American Strategic Investment (US:NYC)2025-03-19 15:23Portfolio Highlights - The company's real estate investments, at cost, totaled $470.8 million[8] - The portfolio consists of 6 properties with a total square footage of 1 million[8] - The portfolio's occupancy rate is 80.8%[4, 8] with a weighted-average remaining lease term of 6.3 years[4, 8] - Annualized Straight-Line Rent (SLR) for the portfolio is $45.4 million[8] - 77% of the top 10 tenants are Investment Grade rated[3, 4, 9] Strategic Dispositions and Leasing - The company completed the sale of 9 Times Square for $63.5 million during Q4'24[4, 7, 24] and generated net proceeds of approximately $13.5 million[7, 24] - The company completed five new leases in 2024 totaling 37,407 SF and $2.0 million of SLR[4, 23, 24] Capital Structure - The company has a 100% fixed-debt capital structure with a weighted-average debt maturity of 3.6 years at a 4.4% weighted-average interest rate[4, 27, 31, 33] - Total debt is $350 million[27, 34] and Net Leverage is 56.9%[27, 31, 32, 33] - There are no debt maturities in 2025[4, 28, 31, 33] Financial Results - Revenue from tenants was $14.9 million in Q4'24[27] - Cash NOI was $6.4 million in Q4'24, up approximately 2% year-over-year from $6.3 million in Q4'23[27, 31]