Net Lease Office Properties: Shedding Assets, Perhaps No Income

Net Lease Office Properties is a REIT focused on office assets, primarily engaged in asset dispositions post-spin-off from W.P. Carey. NLOP has stabilized its balance sheet with only $47M in debt and $38M in cash, while maintaining positive funds from operations. Recent large, non-dividend distributions reflect asset liquidations, but regular dividends remain uncertain due to ongoing GAAP losses and disposition strategy.

Seeking Alpha • Dec 9, 2025

Net Lease Office Properties Declares Special Cash Distribution of $4.10 Per Share

Announces Sale of Office Property for $33 Million NEW YORK , Nov. 24, 2025 /PRNewswire/ -- Net Lease Office Properties (NYSE: NLOP) reported today that its Board of Trustees declared a special cash distribution of $4.10 per common share, totaling approximately $60.7 million. The distribution is payable on December 19, 2025 to shareholders of record as of the close of business on December 4, 2025.

PRNewsWire • Nov 24, 2025

Halvio Capital Q3 2025 Position Updates

FILA declined during the quarter as a result of an analyst downgrade amidst an uncertain US outlook. During the quarter NLOP paid its first, and hopefully many more, special dividend of $3.10/share totalling $46m. Mestek Inc. is a new position and last year they did $400m in revenue and $34m in operating earnings.

Seeking Alpha • Oct 7, 2025

Net Lease Office Properties: The Dividends Commence

NLOP has begun its capital return program, declaring a $3.10 special dividend as it enters the liquidation phase. Current valuation offers a significant margin of safety, with remaining assets trading at attractive cap rates. Recent property sales and lease extensions demonstrate management's ability to unlock value despite office market headwinds.

Seeking Alpha • Aug 8, 2025

Net Lease Office Properties Declares Special Cash Distribution of $3.10 Per Share

NEW YORK , Aug. 6, 2025 /PRNewswire/ -- Net Lease Office Properties (NYSE: NLOP) reported today that its Board of Trustees has declared a special cash distribution of $3.10 per common share, totaling approximately $45.9 million. The distribution is payable on September 3, 2025 to shareholders of record as of the close of business on August 18, 2025.

PRNewsWire • Aug 6, 2025

Net Lease Office Properties Announces Repayment of J.P. Morgan Mezzanine Loan

Two Office Properties Sold Totaling $10 Million NEW YORK , April 23, 2025 /PRNewswire/ -- Net Lease Office Properties (NYSE: NLOP) today announced the repayment in full of the J.P. Morgan mezzanine loan and the sale of two office properties.

PRNewsWire • Apr 23, 2025

Net Lease Office Properties: Attractively Priced Relative To Book Value

Net Lease Office Properties is in the process of liquidating all its properties and dispose all the returns to shareholders after all the debt is paid back. Judging from where the stock is currently trading, it is priced at a 25% discount to its balance sheet book value. Even accounting for a scenario where NLOP sells its properties for a cap rate above 12%, the downside is still limited.

Seeking Alpha • Mar 6, 2025

The State Of REITs: February 2025 Edition

After a brutal December (-6.85%), the REIT sector averaged negative total returns again in January (-1.29%). Large cap (+0.30%) and mid cap REITs (+0.09%) averaged small gains in January, whereas small caps (-0.95%) and micro caps (-7.80%) started the year in the red. Only 42.58% of REIT securities had a positive total during the first month of 2025.

Seeking Alpha • Feb 21, 2025

Net Lease Office Properties Announces Tax Treatment of 2024 Dividends

NEW YORK , Jan. 22, 2025 /PRNewswire/ -- Net Lease Office Properties (NYSE: NLOP) announced the income tax treatment of dividends reported on Form 1099-DIV for 2024. Shareholders are encouraged to consult with their tax advisors as to their specific tax treatment of Net Lease Office Properties dividends.

PRNewsWire • Jan 22, 2025

Net Lease Office Properties: 2025 Update

NLOP has disposed of a third of its properties, generating $371m in sales, and is on track to reach net debt zero by end of 2024. Remaining property value is estimated at $661m, with $703m of future value to distribute, translating to $47.50 per share (~50% upside). Risks include potential discounts on large property sales and extended liquidation timelines, but ongoing rent collections provide a safety net.

Seeking Alpha • Jan 19, 2025