Investor Presentaiton slide image

Investor Presentaiton

OFFICE PROPERTIES INCOME TRUST RECONCILIATION AND CALCULATION OF SAME PROPERTY NOI AND SAME PROPERTY CASH BASIS NOI (dollars in thousands) Reconciliation of NOI to Same Property NOI: Rental income Property operating expenses ΝΟΙ Less: NOI of properties not included in same property results Same Property NOI Calculation of Same Property Cash Basis NOI: For the Three Months Ended 9/30/2023 9/30/2022 For the Nine Months Ended 9/30/2023 9/30/2022 $ 133,361 $ 137,683 $ 399,780 426,353 (49,663) (52,137) (146,590) (151,910) 83,698 85,546 253,190 274,443 (901) (2,556) (801) (17,382) 82,797 $ 82,990 $ 252,389 $ 257,061 Same Property NOI 82,797 $ 82,990 $ 252,389 $ 257,061 Add: Lease value amortization included in rental income (56) 176 (204) 624 Less: Non-cash straight line rent adjustments included in rental income (7,426) (1,845) (15,956) (7,535) Lease termination fees included in rental income (1,576) (83) (3,160) (3,465) Non-cash amortization included in property operating expenses (1) (109) (108) (325) (309) Same Property Cash Basis NOI $ 73,630 $ 81,130 $ 232,744 $ 246,376 (1) OPI recorded a liability for the amount by which the estimated fair value for accounting purposes exceeded the price OPI paid for its former investment in RMR Inc. common stock in June 2015. A portion of this liability is being amortized on a straight line basis through December 31, 2035 as a reduction to property management fees expense, which is included in other operating expenses. 20
View entire presentation