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Added to YB: 2024-10-30

Pitch date: 2024-10-28

NLOP [bullish]

Net Lease Office Properties

-0.93%

current return

Author Info

No bio for this author

Company Info

Net Lease Office Properties (NYSE: NLOP) is a publicly traded real estate investment trust with a portfolio of 59 high-quality office properties, totaling approximately 8.

Market Cap

$448.9M

Pitch Price

$30.21

Price Target

N/A

Dividend

1.12%

Sector

Office REITs

Category

value

Alluvial Capital Management Portfolio Holding: Net Lease Office Properties

NLOP: Reduced term loan to $74M & mezzanine to $81M after $71.5M property sale. $300M debt reduction in <1yr. Few more sales to clear debt. Expect majority investment return 2025. EV $615M, NOI $94M (15.3% cap rate). $96/sqft vs. $130/sqft est. $45/share NAV post-debt.

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