Netstreit Investor Presentation Deck
Net Operating Income
(unaudited, dollars in thousands)
GAAP Reconciliation:
Net income
General and administrative
Depreciation and amortization
Provisions for impairment
Transaction costs
Interest expense, net
Gain on sales of real estate, net
Income tax expense (benefit)
Loss on debt extinguishment
Interest income on mortgage loans receivable
Lease termination fees
Other income, net
Property-Level NOI
Straight-line rent adjustments
Amortization of lease-related intangibles
Property-Level Cash NOI
Adjustment for intraquarter acquisitions, dispositions and completed
development (1)
Property-Level Cash NOI Estimated Run Rate
Interest income on mortgage loans receivable
Adjustments for intraquarter mortgage loan activity (2)
Total Cash NOI - Estimated Run Rate
Property Operating Expense Coverage
Property operating expense reimbursement
Property operating expenses
Property operating expenses, net
$
NETSTREIT
$
$
$
$
Three Months Ended September 30,
2023
2022
4,239 $
5,133
15,804
1,538
143
3,946
(373)
15
(2,244)
(550)
(367)
27,284
(245)
(121)
26,918
1,320
28,238
2,244
21
30,503
$
3,451 $
(3,883)
(432)
$
1,419 $
4,552
13,407
51
3,017
(143)
171
(674)
21,800
(272)
(313)
21,215
2,112
(2,539)
(427)
$
$
$
Nine Months Ended September 30,
2023
4,928 $
15,299
46,599
4,374
267
13,412
(669)
(60)
128
(5,145)
(550)
(586)
77,997
(707)
(517)
76,773
$
10,233 $
(11,350)
(1,117) $
1. Adjustments assumes all re-leasing activity, investments in and dispositions of real estate, including developments completed during the three months ended September 30, 2023, had occurred on July 1, 2023.
2. Adjustment assumes all loan activity completed during the three months ended September 30, 2023, had occurred on July 1, 2023.
2022
5,395
13,608
36,137
1,114
704
5,708
(2,162)
356
(1,671)
(36)
59,153
(1,144)
(644)
57,365
7,064
(8,156)
(1,093)
31View entire presentation