Financial Performance - ILPT announced a quarterly distribution on its common shares of $005 per share[11] - Net loss attributable to common shareholders was $2131 million or $032 per diluted share[14] - Normalized FFO attributable to common shareholders was $1381 million or $021 per diluted share[14] - NOI increased by 15% to $8756 million and Cash Basis NOI increased by 21% to $8467 million compared to Q2 2024[14] Portfolio and Leasing Activities - Approximately 76% of annualized rental revenues are generated from investment grade tenants or their subsidiaries and Hawaii land leases[13][14] - Occupancy of the portfolio was 943%[14] - Executed 171000 square feet of new and renewal leases at rental rates 211% higher than prior rates with a weighted average lease term of 48 years[14] - Only 36% or 21 million square feet of leased space is set to expire in the next 12 months[14] Debt and Capital Structure - Refinanced $1235 billion of floating rate debt with $116 billion of fixed rate debt due July 2030 using $75 million of cash on hand[14] - Ended the quarter with $586 million of cash on hand excluding restricted cash[14] - Net debt to total gross assets was 699%[30]
Industrial Logistics Properties Trust(ILPT) - 2025 Q2 - Earnings Call Presentation