Investor Presentaiton
Reconciliation of Non-GAAP Measures
SAME STORE RESULTS - NOI
(unaudited and in thousands)
SAME STORE NOI
(1)
Total
Three Months Ended December 31, 2023
New York
San Francisco
Other
PGRE's share of NOI for the three months ended December 31, 2023
Lease termination income
92,533
(766)
64,423
(766)
28,850
(740)
Non-cash write-offs of straight-line rent receivables
363
277
Redevelopment and other, net
1,939
1,075
86
124
740
PGRE's share of Same Store NOI for the three months ended
December 31, 2023
$
94,069
$
65,009
$
29,060
$
Total
Three Months Ended December 31, 2022
New York
San Francisco
Other
PGRE's share of NOI for the three months ended December 31, 2022
Non-cash write-offs of straight-line rent receivables
$
100,134
445
69,746
$
31,498
445
$
(1,110)
Redevelopment and other, net
829
118
(2)
(399)
1,110
PGRE's share of Same Store NOI for the three months ended
December 31, 2022
$
101,408
$
69,864
$
31,544
$
Decrease in PGRE's share of Same Store NOI
% Decrease
$
(7,339)
(7.2%)
$
(4,855)
$
(2,484)
$
(6.9%)
(7.9%)
(1) Please see Appendix for our definition of this measure.
(2) Includes our share of NOI attributable to 60 Wall Street, which has been taken "out-of-service" for redevelopment.
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