Professional
Added to YB: 2025-10-08
Pitch date: 2025-10-06
NLOP [neutral]
Net Lease Office Properties
+2.2%
current return
Author Info
Halvio Capital is an investment firm that seeks to compound capital at high rates of return while taking limited risk of capital impairment through separately managed accounts. The firm’s goal is to outperform the broader indices over a long time frame. Sign up for the newsletter.
Company Info
Net Lease Office Properties (NYSE: NLOP) is a publicly traded real estate investment trust with a portfolio of 37 high-quality office properties, totaling approximately 5.
Market Cap
$438.5M
Pitch Price
$25.70
Price Target
43.00 (+64%)
Dividend
N/A
EV/EBITDA
4.59
P/E
-2.42
EV/Sales
3.89
Sector
Office REITs
Category
special_situation
Halvio Capital Portfolio Holding: Net Lease Office Properties
NLOP (holding update): Office REIT in wind-down paid $3.10/share special dividend, more expected. City Office buyout at $204/sq ft suggests $43 fair value vs current price. Trading at high-teens cap rate vs 7% buyout comp. $117M debt non-recourse on 6/35 properties. $82M impairment on largest asset but $20M/yr rent for 5yrs remains.
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