| | | | Sincerely, | |
| | | |
Paul H. McDowell
Chief Executive Officer Orion Office REIT Inc. |
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Page
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| | | | F-1 | | |
Region
|
| |
Total Square Feet (000s)
|
| |
% of June 30, 2021 ABR
|
| ||||||
Northeast
|
| | | | 2,487 | | | | | | 29.1% | | |
Midwest
|
| | | | 3,698 | | | | | | 28.7% | | |
Southwest
|
| | | | 2,760 | | | | | | 24.7% | | |
Southeast
|
| | | | 647 | | | | | | 6.9% | | |
Mid-Atlantic
|
| | | | 510 | | | | | | 5.9% | | |
West
|
| | | | 274 | | | | | | 2.9% | | |
Other
|
| | | | 56 | | | | | | 1.2% | | |
Northwest
|
| | | | 74 | | | | | | 0.6% | | |
Totals | | | | | 10,506 | | | | | | 100.0% | | |
As of
|
| |
Square Feet
Owned (000s) |
| |
Occupancy Rate
|
| |
Average Annual Base
Rent per Square Foot |
| |||||||||
June 30, 2021
|
| | | | 10,506 | | | | | | 94.4% | | | | | $ | 16.72 | | |
| | | | | | | | | | | | | | |
Property
|
| |
IG
|
| |
Annualized
|
| |
Annualized
|
| |||||||||
#
|
| |
Client Industry
|
| |
City
|
| |
State
|
| |
Square
Feet (000s) |
| |
Rated(1)
|
| |
Base Rent
(000s)(2) |
| |
Base Rent
per SF |
| ||||||||||||
1
|
| |
Financial Services
|
| |
Hopewell
|
| | | | NJ | | | | | | 482 | | | |
✓
|
| | | $ | 11,564 | | | | | $ | 24.00 | | |
2
|
| |
Insurance
|
| |
Buffalo
|
| | | | NY | | | | | | 430 | | | | | | | | $ | 8,090 | | | | | $ | 18.79 | | |
3
|
| |
Telecommunications
|
| |
Bedford
|
| | | | MA | | | | | | 328 | | | | | | | | $ | 7,221 | | | | | $ | 22.00 | | |
4
|
| |
Multi-Tenant
|
| |
Covington
|
| | | | KY | | | | | | 438 | | | |
✓
|
| | | $ | 6,227 | | | | | $ | 14.21 | | |
5
|
| |
Multi-Tenant
|
| |
Tulsa
|
| | | | OK | | | | | | 329 | | | | | | | | $ | 5,578 | | | | | $ | 16.98 | | |
6
|
| |
Health Care
|
| |
Malvern
|
| | | | PA | | | | | | 188 | | | | | | | | $ | 5,254 | | | | | $ | 28.00 | | |
7
|
| |
Health Care
|
| |
Parsippany
|
| | | | NJ | | | | | | 176 | | | | | | | | $ | 5,107 | | | | | $ | 29.00 | | |
| | | | | | | | | | | | | | |
Property
|
| |
IG
|
| |
Annualized
|
| |
Annualized
|
| |||||||||
#
|
| |
Client Industry
|
| |
City
|
| |
State
|
| |
Square
Feet (000s) |
| |
Rated(1)
|
| |
Base Rent
(000s)(2) |
| |
Base Rent
per SF |
| ||||||||||||
8
|
| |
Insurance
|
| |
Plano
|
| | | | TX | | | | | | 209 | | | |
✓
|
| | | $ | 4,188 | | | | | $ | 20.07 | | |
9
|
| |
Multi-Tenant
|
| |
Denver
|
| | | | CO | | | | | | 262 | | | |
✓
|
| | | $ | 4,132 | | | | | $ | 15.75 | | |
10
|
| |
Drug Stores
|
| |
Northbrook
|
| | | | IL | | | | | | 195 | | | |
✓
|
| | | $ | 3,722 | | | | | $ | 19.08 | | |
11
|
| |
Health Care
|
| |
Berkeley
|
| | | | MO | | | | | | 227 | | | |
✓
|
| | | $ | 3,498 | | | | | $ | 15.38 | | |
12
|
| |
Health Care
|
| |
Irving
|
| | | | TX | | | | | | 172 | | | | | | | | $ | 3,413 | | | | | $ | 19.81 | | |
13
|
| |
Insurance
|
| |
Urbana
|
| | | | MD | | | | | | 116 | | | |
✓
|
| | | $ | 3,325 | | | | | $ | 28.72 | | |
14
|
| |
Health Care US
|
| |
Bedford
|
| | | | TX | | | | | | 75 | | | | | | | | $ | 3,303 | | | | | $ | 44.04 | | |
15
|
| |
Other
|
| |
Sterling
|
| | | | VA | | | | | | 207 | | | | | | | | $ | 3,232 | | | | | $ | 15.60 | | |
16
|
| |
Other
|
| |
Schaumburg
|
| | | | IL | | | | | | 178 | | | |
✓
|
| | | $ | 2,844 | | | | | $ | 15.99 | | |
17
|
| |
Insurance
|
| |
Oklahoma City
|
| | | | OK | | | | | | 147 | | | | | | | | $ | 2,791 | | | | | $ | 18.97 | | |
18
|
| |
Other Manufacturing
|
| |
Glen Burnie
|
| | | | MD | | | | | | 120 | | | | | | | | $ | 2,728 | | | | | $ | 22.73 | | |
19
|
| |
Transportation Services
|
| |
Uniontown
|
| | | | OH | | | | | | 267 | | | |
✓
|
| | | $ | 2,726 | | | | | $ | 10.23 | | |
20
|
| |
Telecommunications
|
| |
Richardson
|
| | | | TX | | | | | | 203 | | | |
✓
|
| | | $ | 2,642 | | | | | $ | 13.00 | | |
21
|
| |
Multi-Tenant
|
| |
The Woodlands
|
| | | | TX | | | | | | 154 | | | | | | | | $ | 2,433 | | | | | $ | 15.82 | | |
22
|
| |
Health Care US
|
| |
St. Louis
|
| | | | MO | | | | | | 181 | | | |
✓
|
| | | $ | 2,403 | | | | | $ | 13.27 | | |
23
|
| |
Multi-Tenant
|
| |
The Woodlands
|
| | | | TX | | | | | | 175 | | | | | | | | $ | 2,346 | | | | | $ | 13.40 | | |
24
|
| |
General Merchandise
|
| |
Providence
|
| | | | RI | | | | | | 136 | | | |
✓
|
| | | $ | 2,242 | | | | | $ | 16.50 | | |
25
|
| |
Telecommunications
|
| |
Lincoln
|
| | | | NE | | | | | | 150 | | | | | | | | $ | 2,237 | | | | | $ | 14.91 | | |
26
|
| |
Telecommunications
|
| |
Amherst
|
| | | | NY | | | | | | 200 | | | | | | | | $ | 2,197 | | | | | $ | 10.98 | | |
27
|
| |
Telecommunications
|
| |
Milwaukee
|
| | | | WI | | | | | | 155 | | | |
✓
|
| | | $ | 2,188 | | | | | $ | 14.13 | | |
28
|
| |
Financial Services
|
| |
Mount Pleasant
|
| | | | SC | | | | | | 68 | | | |
✓
|
| | | $ | 2,186 | | | | | $ | 32.14 | | |
29
|
| |
Insurance
|
| |
Fresno
|
| | | | CA | | | | | | 127 | | | |
✓
|
| | | $ | 2,130 | | | | | $ | 16.77 | | |
30
|
| |
Insurance
|
| |
Phoenix
|
| | | | AZ | | | | | | 90 | | | |
✓
|
| | | $ | 2,089 | | | | | $ | 23.11 | | |
31
|
| |
Government Services
|
| |
Ponce
|
| | | | PR | | | | | | 57 | | | |
✓
|
| | | $ | 2,023 | | | | | $ | 35.81 | | |
32
|
| |
Food Processing
|
| |
St. Charles
|
| | | | MO | | | | | | 96 | | | |
✓
|
| | | $ | 2,022 | | | | | $ | 21.02 | | |
33
|
| |
Aerospace
|
| |
Columbus
|
| | | | OH | | | | | | 147 | | | |
✓
|
| | | $ | 1,941 | | | | | $ | 13.24 | | |
34
|
| |
Financial Services
|
| |
Englewood
|
| | | | CO | | | | | | 95 | | | | | | | | $ | 1,858 | | | | | $ | 19.50 | | |
35
|
| |
Other
|
| |
Dublin
|
| | | | OH | | | | | | 150 | | | |
✓
|
| | | $ | 1,800 | | | | | $ | 12.00 | | |
36
|
| |
Home Improvement
|
| |
Santee
|
| | | | CA | | | | | | 73 | | | | | | | | $ | 1,797 | | | | | $ | 24.66 | | |
37
|
| |
Multi-Tenant
|
| |
San Antonio
|
| | | | TX | | | | | | 96 | | | |
✓
|
| | | $ | 1,779 | | | | | $ | 18.56 | | |
38
|
| |
Other Manufacturing
|
| |
East Windsor
|
| | | | NJ | | | | | | 66 | | | | | | | | $ | 1,754 | | | | | $ | 26.62 | | |
39
|
| |
Transportation Services
|
| |
Memphis
|
| | | | TN | | | | | | 90 | | | |
✓
|
| | | $ | 1,744 | | | | | $ | 19.28 | | |
40
|
| |
Diversified Industrial
|
| |
Annandale
|
| | | | NJ | | | | | | 105 | | | |
✓
|
| | | $ | 1,707 | | | | | $ | 16.25 | | |
41
|
| |
Telecommunications
|
| |
Augusta
|
| | | | GA | | | | | | 79 | | | |
✓
|
| | | $ | 1,645 | | | | | $ | 20.83 | | |
42
|
| |
Diversified Industrial
|
| |
Buffalo Grove
|
| | | | IL | | | | | | 105 | | | |
✓
|
| | | $ | 1,629 | | | | | $ | 15.50 | | |
43
|
| |
Health Care
|
| |
Waukegan
|
| | | | IL | | | | | | 131 | | | |
✓
|
| | | $ | 1,576 | | | | | $ | 12.00 | | |
44
|
| |
Telecommunications
|
| |
Brownsville
|
| | | | TX | | | | | | 78 | | | |
✓
|
| | | $ | 1,570 | | | | | $ | 20.12 | | |
45
|
| |
Diversified Industrial
|
| |
Longmont
|
| | | | CO | | | | | | 152 | | | |
✓
|
| | | $ | 1,568 | | | | | $ | 10.30 | | |
46
|
| |
Equipment Services
|
| |
Duluth
|
| | | | GA | | | | | | 126 | | | |
✓
|
| | | $ | 1,461 | | | | | $ | 11.61 | | |
47
|
| |
Telecommunications
|
| |
East Syracuse
|
| | | | NY | | | | | | 109 | | | |
✓
|
| | | $ | 1,446 | | | | | $ | 13.32 | | |
48
|
| |
Telecommunications
|
| |
Schaumburg
|
| | | | IL | | | | | | 106 | | | |
✓
|
| | | $ | 1,383 | | | | | $ | 13.00 | | |
49
|
| |
Diversified Industrial
|
| |
Cedar Rapids
|
| | | | IA | | | | | | 78 | | | |
✓
|
| | | $ | 1,375 | | | | | $ | 17.64 | | |
50
|
| |
Government Services
|
| |
Redding
|
| | | | CA | | | | | | 56 | | | |
✓
|
| | | $ | 1,233 | | | | | $ | 22.18 | | |
51
|
| |
Other Manufacturing
|
| |
Malvern
|
| | | | PA | | | | | | 45 | | | | | | | | $ | 1,231 | | | | | $ | 27.10 | | |
52
|
| |
Home Improvement
|
| |
Kennesaw
|
| | | | GA | | | | | | 80 | | | |
✓
|
| | | $ | 1,209 | | | | | $ | 15.11 | | |
53
|
| |
Financial Services
|
| |
Harleysville
|
| | | | PA | | | | | | 80 | | | |
✓
|
| | | $ | 1,197 | | | | | $ | 14.91 | | |
| | | | | | | | | | | | | | |
Property
|
| |
IG
|
| |
Annualized
|
| |
Annualized
|
| |||||||||
#
|
| |
Client Industry
|
| |
City
|
| |
State
|
| |
Square
Feet (000s) |
| |
Rated(1)
|
| |
Base Rent
(000s)(2) |
| |
Base Rent
per SF |
| ||||||||||||
54
|
| |
Drug Stores
|
| |
Deerfield
|
| | | | IL | | | | | | 110 | | | |
✓
|
| | | $ | 1,165 | | | | | $ | 10.61 | | |
55
|
| |
Telecommunications
|
| |
Salem
|
| | | | OR | | | | | | 74 | | | |
✓
|
| | | $ | 1,120 | | | | | $ | 15.17 | | |
56
|
| |
Drug Stores
|
| |
Deerfield
|
| | | | IL | | | | | | 105 | | | |
✓
|
| | | $ | 1,119 | | | | | $ | 10.61 | | |
57
|
| |
Drug Stores
|
| |
Deerfield
|
| | | | IL | | | | | | 105 | | | |
✓
|
| | | $ | 1,118 | | | | | $ | 10.61 | | |
58
|
| |
Drug Stores
|
| |
Deerfield
|
| | | | IL | | | | | | 105 | | | |
✓
|
| | | $ | 1,116 | | | | | $ | 10.61 | | |
59
|
| |
Government Services
|
| |
Parkersburg
|
| | | | WV | | | | | | 67 | | | |
✓
|
| | | $ | 1,071 | | | | | $ | 15.94 | | |
60
|
| |
Other
|
| |
Dublin
|
| | | | OH | | | | | | 69 | | | | | | | | $ | 1,044 | | | | | $ | 15.19 | | |
61
|
| |
Other
|
| |
Lawrence
|
| | | | KS | | | | | | 106 | | | | | | | | $ | 1,035 | | | | | $ | 9.80 | | |
62
|
| |
Telecommunications
|
| |
Nashville
|
| | | | TN | | | | | | 69 | | | | | | | | $ | 1,032 | | | | | $ | 14.90 | | |
63
|
| |
Government Services
|
| |
Malone
|
| | | | NY | | | | | | 31 | | | |
✓
|
| | | $ | 999 | | | | | $ | 32.47 | | |
64
|
| |
Health Care
|
| |
Nashville
|
| | | | TN | | | | | | 55 | | | | | | | | $ | 969 | | | | | $ | 17.77 | | |
65
|
| |
Other
|
| |
Tulsa
|
| | | | OK | | | | | | 108 | | | | | | | | $ | 966 | | | | | $ | 8.98 | | |
66
|
| |
Other
|
| |
Lawrence
|
| | | | KS | | | | | | 90 | | | | | | | | $ | 887 | | | | | $ | 9.91 | | |
67
|
| |
Drug Stores
|
| |
Deerfield
|
| | | | IL | | | | | | 82 | | | |
✓
|
| | | $ | 870 | | | | | $ | 10.61 | | |
68
|
| |
Government Services
|
| |
New Port Richey
|
| | | | FL | | | | | | 49 | | | |
✓
|
| | | $ | 866 | | | | | $ | 17.76 | | |
69
|
| |
Government Services
|
| |
Knoxville
|
| | | | TN | | | | | | 25 | | | |
✓
|
| | | $ | 821 | | | | | $ | 32.31 | | |
70
|
| |
Government Services
|
| |
Dallas
|
| | | | TX | | | | | | 18 | | | |
✓
|
| | | $ | 763 | | | | | $ | 43.27 | | |
71
|
| |
Financial Services
|
| |
Warwick
|
| | | | RI | | | | | | 70 | | | |
✓
|
| | | $ | 762 | | | | | $ | 10.93 | | |
72
|
| |
Insurance
|
| |
Cedar Falls
|
| | | | IA | | | | | | 45 | | | |
✓
|
| | | $ | 753 | | | | | $ | 16.56 | | |
73
|
| |
Government Services
|
| |
Grangeville
|
| | | | ID | | | | | | 35 | | | |
✓
|
| | | $ | 742 | | | | | $ | 21.00 | | |
74
|
| |
Drug Stores
|
| |
Deerfield
|
| | | | IL | | | | | | 67 | | | |
✓
|
| | | $ | 707 | | | | | $ | 10.61 | | |
75
|
| |
Health Care
|
| |
Indianapolis
|
| | | | IN | | | | | | 83 | | | | | | | | $ | 538 | | | | | $ | 6.50 | | |
76
|
| |
Government Services
|
| |
Fort Worth
|
| | | | TX | | | | | | 16 | | | |
✓
|
| | | $ | 501 | | | | | $ | 31.65 | | |
77
|
| |
Government Services
|
| |
Minneapolis
|
| | | | MN | | | | | | 39 | | | |
✓
|
| | | $ | 493 | | | | | $ | 12.55 | | |
78
|
| |
Food Processing
|
| |
Blair
|
| | | | NE | | | | | | 30 | | | |
✓
|
| | | $ | 493 | | | | | $ | 16.43 | | |
79
|
| |
Government Services
|
| |
Sioux City
|
| | | | IA | | | | | | 11 | | | |
✓
|
| | | $ | 485 | | | | | $ | 43.35 | | |
80
|
| |
Government Services
|
| |
Eagle Pass
|
| | | | TX | | | | | | 22 | | | |
✓
|
| | | $ | 454 | | | | | $ | 20.72 | | |
81
|
| |
Government Services
|
| |
Paris
|
| | | | TX | | | | | | 11 | | | |
✓
|
| | | $ | 425 | | | | | $ | 39.35 | | |
82
|
| |
Government Services
|
| |
Plattsburgh
|
| | | | NY | | | | | | 19 | | | |
✓
|
| | | $ | 397 | | | | | $ | 21.29 | | |
83
|
| |
Government Services
|
| |
Brownsville
|
| | | | TX | | | | | | 11 | | | |
✓
|
| | | $ | 323 | | | | | $ | 30.68 | | |
84
|
| |
Government Services
|
| |
Caldwell
|
| | | | ID | | | | | | 11 | | | |
✓
|
| | | $ | 277 | | | | | $ | 25.72 | | |
85
|
| |
Government Services
|
| |
Eagle Pass
|
| | | | TX | | | | | | 12 | | | |
✓
|
| | | $ | 203 | | | | | $ | 17.42 | | |
86
|
| |
Government Services
|
| |
Cocoa
|
| | | | FL | | | | | | 6 | | | |
✓
|
| | | $ | 176 | | | | | $ | 28.84 | | |
87
|
| |
Vacant
|
| |
El Centro
|
| | | | CA | | | | | | 18 | | | | | | | | $ | 0 | | | | | $ | 0.00 | | |
88
|
| |
Vacant
|
| |
Englewood
|
| | | | CO | | | | | | 61 | | | | | | | | $ | 0 | | | | | $ | 0.00 | | |
89
|
| |
Vacant
|
| |
Ridley Park
|
| | | | PA | | | | | | 23 | | | | | | | | $ | 0 | | | | | $ | 0.00 | | |
90
|
| |
Vacant
|
| |
Richardson
|
| | | | TX | | | | | | 116 | | | | | | | | $ | 0 | | | | | $ | 0.00 | | |
91
|
| |
Vacant
|
| |
Sierra Vista
|
| | | | AZ | | | | | | 24 | | | | | | | | $ | 0 | | | | | $ | 0.00 | | |
92
|
| |
Vacant
|
| |
Tucson
|
| | | | AZ | | | | | | 125 | | | | | | | | $ | 0 | | | | | $ | 0.00 | | |
Total | | | | | | | | | | | | | | | | | 10,506 | | | | | | | | $ | 175,676 | | | | | $ | 16.72 | | |
|
| | |
Interest Rate
(as of June 30, 2021) |
| |
Fixed or Floating
Interest Rate |
| |
Contractual
or Anticipated Maturity Date |
| |
Mortgage Balance
($000s, as of June 30, 2021) |
| |||
| | |
L+325 bps
|
| |
Floating
|
| |
8/19/2021
|
| | | $ | 14,914 | | |
| | |
6.05%
|
| |
Fixed
|
| |
5/6/2022
|
| | | $ | 2,990 | | |
| | |
4.73%
|
| |
Fixed
|
| |
6/1/2022
|
| | | $ | 27,700 | | |
| | |
4.88%
|
| |
Fixed
|
| |
6/1/2022
|
| | | $ | 9,625 | | |
| | |
4.73%
|
| |
Fixed
|
| |
6/1/2022
|
| | | $ | 8,600 | | |
| | |
4.73%
|
| |
Fixed
|
| |
6/1/2022
|
| | | $ | 4,700 | | |
| | |
4.60%
|
| |
Fixed
|
| |
6/6/2022
|
| | | $ | 17,270 | | |
| | |
4.23%
|
| |
Fixed
|
| |
3/1/2023
|
| | | $ | 74,250 | | |
| | |
3.95%
|
| |
Fixed
|
| |
4/1/2023
|
| | | $ | 8,558 | | |
| | |
5.63%
|
| |
Fixed
|
| |
6/1/2032
|
| | | $ | 12,572 | | |
Totals | | |
4.71%
|
| | | | | | | | | $ | 181,179 | | |
Client
|
| |
Square Feet
Leased (000s) |
| |
Annualized Base Rent for
the month ending June 30, 2021 ($000s) |
| |
Percentage of
June 30, 2021 ABR |
| |||||||||
Cigna
|
| | | | 708 | | | | | $ | 12,177 | | | | | | 6.9% | | |
Merrill Lynch
|
| | | | 482 | | | | | $ | 11,564 | | | | | | 6.6% | | |
Government Services Administration
|
| | | | 455 | | | | | $ | 11,760 | | | | | | 6.7% | | |
HealthNow Systems
|
| | | | 430 | | | | | $ | 8,090 | | | | | | 4.6% | | |
RSA Security
|
| | | | 328 | | | | | $ | 7,221 | | | | | | 4.1% | | |
Walgreens
|
| | | | 575 | | | | | $ | 6,094 | | | | | | 3.5% | | |
T-Mobile
|
| | | | 300 | | | | | $ | 5,367 | | | | | | 3.1% | | |
Teva Pharmacueticals
|
| | | | 188 | | | | | $ | 5,254 | | | | | | 3.0% | | |
The Medicines Company (Novartis)
|
| | | | 176 | | | | | $ | 5,107 | | | | | | 2.9% | | |
FedEx Corporation
|
| | | | 357 | | | | | $ | 4,469 | | | | | | 2.5% | | |
Industry
|
| |
Square Feet
Leased (000s) |
| |
Annualized Base Rent for
the month ending June 30, 2021 ($000s) |
| |
Percentage of
June 30, 2021 ABR |
| |||||||||
Health Care
|
| | | | 1,480 | | | | | $ | 25,483 | | | | | | 14.5% | | |
Telecommunications
|
| | | | 1,551 | | | | | $ | 24,682 | | | | | | 14.0% | | |
Insurance
|
| | | | 1,165 | | | | | $ | 23,365 | | | | | | 13.3% | | |
Financial Services
|
| | | | 945 | | | | | $ | 19,367 | | | | | | 11.0% | | |
Government Services
|
| | | | 494 | | | | | $ | 12,254 | | | | | | 7.0% | | |
Drug Stores
|
| | | | 770 | | | | | $ | 9,817 | | | | | | 5.6% | | |
Other
|
| | | | 561 | | | | | $ | 8,086 | | | | | | 4.6% | | |
Home Improvement
|
| | | | 153 | | | | | $ | 3,006 | | | | | | 1.7% | | |
Diversified Industrial
|
| | | | 440 | | | | | $ | 6,279 | | | | | | 3.6% | | |
Other Manufacturing
|
| | | | 231 | | | | | $ | 5,712 | | | | | | 3.3% | | |
Year
|
| |
Square Feet
of Expiring Leases (000s) |
| |
Percentage of
Property Square Feet |
| |
Annualized Base Rent for
the month ending June 30, 2021 ($000s) |
| |
Percentage of
June 30, 2021 ABR |
| ||||||||||||
2021
|
| | | | 808 | | | | | | 9.3% | | | | | $ | 15,029 | | | | | | 9.8% | | |
2022
|
| | | | 1,486 | | | | | | 17.1% | | | | | $ | 25,547 | | | | | | 16.7% | | |
2023
|
| | | | 1,644 | | | | | | 18.9% | | | | | $ | 25,098 | | | | | | 16.4% | | |
2024
|
| | | | 2,098 | | | | | | 24.2% | | | | | $ | 40,969 | | | | | | 26.7% | | |
2025
|
| | | | 615 | | | | | | 7.1% | | | | | $ | 10,337 | | | | | | 6.7% | | |
2026
|
| | | | 340 | | | | | | 3.9% | | | | | $ | 5,825 | | | | | | 3.8% | | |
2027
|
| | | | 620 | | | | | | 7.1% | | | | | $ | 9,746 | | | | | | 6.4% | | |
2028
|
| | | | 384 | | | | | | 4.4% | | | | | $ | 6,217 | | | | | | 4.1% | | |
2029
|
| | | | 207 | | | | | | 2.4% | | | | | $ | 3,232 | | | | | | 2.1% | | |
2030
|
| | | | 75 | | | | | | 0.9% | | | | | $ | 3,303 | | | | | | 2.2% | | |
Thereafter
|
| | | | 407 | | | | | | 4.7% | | | | | $ | 7,877 | | | | | | 5.1% | | |
| | |
Six Months Ended
June 30, |
| |
Year Ended December 31,
|
| ||||||||||||||||||||||||
(in millions)
|
| |
2021
|
| |
2020
|
| |
2020
|
| |
2019
|
| |
2018
|
| |||||||||||||||
Income Statement Data | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Total revenues
|
| | | $ | 25.6 | | | | | $ | 26.9 | | | | | $ | 53.5 | | | | | $ | 53.5 | | | | | $ | 54.7 | | |
Total expenses
|
| | | | 16.8 | | | | | | 18.8 | | | | | | 55.4 | | | | | | 38.2 | | | | | | 39.9 | | |
Total net income (loss)
|
| | | $ | 8.8 | | | | | $ | 8.1 | | | | | $ | (1.9) | | | | | $ | 15.3 | | | | | $ | 14.8 | | |
Cash Flow Provided By (Used In) | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Operating Activities
|
| | | $ | 21.3 | | | | | $ | 22.0 | | | | | $ | 42.3 | | | | | $ | 40.0 | | | | | $ | 42.0 | | |
Investing Activities
|
| | | | (0.1) | | | | | | (0.3) | | | | | | (0.5) | | | | | | (0.5) | | | | | | (2.4) | | |
Financing Activities
|
| | | | (24.7) | | | | | | (21.2) | | | | | | (41.7) | | | | | | (38.6) | | | | | | (49.6) | | |
(in millions)
|
| |
As of June 30,
2021 |
| |
As of December 31,
|
| ||||||||||||
|
2020
|
| |
2019
|
| ||||||||||||||
Balance Sheet Data | | | | | | | | | | | | | | | | | | | |
Total real estate, net
|
| | | $ | 489.2 | | | | | $ | 497.9 | | | | | $ | 534.1 | | |
Total assets
|
| | | | 531.0 | | | | | | 546.4 | | | | | | 592.2 | | |
Mortgage payable, net
|
| | | | 22.7 | | | | | | 37.1 | | | | | | 70.1 | | |
Total liabilities
|
| | | | 35.4 | | | | | | 49.3 | | | | | | 84.2 | | |
Total equity
|
| | | | 495.6 | | | | | | 497.1 | | | | | | 508.0 | | |
| | |
Six Months Ended
June 30, |
| |
Year Ended December 31,
|
| ||||||||||||||||||||||||
(in millions)
|
| |
2021
|
| |
2020
|
| |
2020
|
| |
2019
|
| |
2018
|
| |||||||||||||||
Funds from operations (FFO)
|
| | | $ | 20.7 | | | | | $ | 21.2 | | | | | $ | 42.8 | | | | | $ | 42.2 | | | | | $ | 42.8 | | |
Adjusted funds from operations (AFFO)
|
| | | $ | 20.2 | | | | | $ | 20.8 | | | | | $ | 42.0 | | | | | $ | 40.8 | | | | | $ | 40.2 | | |
| | |
Six Months Ended June 30,
|
| |
Year Ended December 31,
|
| ||||||||||||||||||||||||
(in millions)
|
| |
2021
|
| |
2020
|
| |
2020
|
| |
2019
|
| |
2018
|
| |||||||||||||||
Income Statement Data: | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Total revenues
|
| | | $ | 81.3 | | | | | $ | 86.6 | | | | | $ | 170.9 | | | | | $ | 182.1 | | | | | $ | 180.0 | | |
Total expenses, net of other income and gains(1)
|
| | | | 79.2 | | | | | | 54.0 | | | | | | 127.4 | | | | | | 141.5 | | | | | | 154.4 | | |
Total net income
|
| | | | 2.1 | | | | | | 32.6 | | | | | | 43.5 | | | | | | 40.6 | | | | | | 25.6 | | |
Total net loss attributable to non-controlling interest
|
| | | | 0.1 | | | | | | — | | | | | | 0.1 | | | | | | 0.1 | | | | | | 0.2 | | |
Total net income attributable to VEREIT Office Assets
|
| | | $ | 2.2 | | | | | $ | 32.6 | | | | | $ | 43.6 | | | | | $ | 40.7 | | | | | $ | 25.8 | | |
Cash Flow Provided By (Used In): | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Operating activities
|
| | | $ | 50.8 | | | | | $ | 56.1 | | | | | $ | 108.5 | | | | | $ | 112.6 | | | | | $ | 103.9 | | |
Investing activities
|
| | | | (5.4) | | | | | | 70.8 | | | | | | 111.4 | | | | | | (17.1) | | | | | | (16.5) | | |
Financing activities
|
| | | | (44.7) | | | | | | (127.0) | | | | | | (219.4) | | | | | | (94.5) | | | | | | (90.5) | | |
| | |
As of June 30,
|
| |
As of December 31,
|
| ||||||||||||
Balance Sheet Data:
|
| |
2021
|
| |
2020
|
| |
2019
|
| |||||||||
Total real estate, net
|
| | | $ | 1,147.4 | | | | | $ | 1,196.0 | | | | | $ | 1,375.1 | | |
Total assets
|
| | | | 1,364.5 | | | | | | 1,412.4 | | | | | | 1,589.0 | | |
Mortgages payable, net
|
| | | | 158.3 | | | | | | 217.6 | | | | | | 243.9 | | |
Total liabilities
|
| | | | 186.4 | | | | | | 250.9 | | | | | | 278.9 | | |
Total equity
|
| | | | 1,178.1 | | | | | | 1,161.4 | | | | | | 1,310.1 | | |
| | |
Six Months Ended
June 30, |
| |
Year Ended December 31,
|
| ||||||||||||||||||||||||
(in millions)
|
| |
2021
|
| |
2020
|
| |
2020
|
| |
2019
|
| |
2018
|
| |||||||||||||||
Funds from operations (FFO)
|
| | | $ | 53.8 | | | | | $ | 54.1 | | | | | $ | 106.8 | | | | | $ | 115.0 | | | | | $ | 111.9 | | |
Adjusted funds from operations (AFFO)
|
| | | | 55.4 | | | | | | 55.5 | | | | | | 109.0 | | | | | | 114.4 | | | | | | 103.6 | | |