City Office REIT(US:CIO)2024-10-31 20:07Company Overview - City Office REIT owns a diversified portfolio of premier office properties in high-growth Sun Belt markets[4] - The portfolio comprises 56 buildings with 5567 thousands square feet of net rentable area[4] - The portfolio's in-place occupancy is 834% with a lease term remaining of 44 years[4] Financial Performance and Outlook - In Q3 2024, Core FFO per share was $027 and AFFO per share was $012[22] - The company completed a loan repayment on maturity of a $50 million term loan[22] - The full year 2024 Net Operating Income is expected to be between $1015 million and $1020 million[23] - The company projects Core FFO per Share for full year 2024 to be between $115 and $117[23] - The company anticipates December 31, 2024 Occupancy to be between 850% and 860%[23] Portfolio Strategy and Value Creation - CIO's 12 dispositions have generated $560 million of gains on sale[7, 15] - The company is investing in property upgrades and spec suites to optimally position the portfolio for leasing[7] - The company has inventory of 43000 SF of completed spec suites, with approximately 15000 SF under construction or planned for 2024[16]