American Strategic Investment (US:NYC)2025-11-19 23:00Portfolio Overview - The company's Manhattan-focused real estate portfolio features an underlying tenant base in core commercial businesses, with 69% of the top 10 tenants being Investment Grade rated[2] - The portfolio occupancy rate is 80.9%, with a weighted-average remaining lease term of 6.2 years[5] - Over 56% of the leases expire after 2030[5] - The real estate investments are valued at $382.5 million[11] - The annualized straight-line rent is $28.8 million[11] Tenant Profile - The top 10 tenants are 69% Investment Grade rated, with 43.6% being actual Investment Grade and 25.4% being implied Investment Grade[3, 15] - The top 10 tenants have a remaining lease term of 7.1 years[5] - Government/Public Administration represents 27% of the tenant industry diversity[14] Financial Highlights - The company has a 100% fixed-debt capital structure with a weighted-average interest rate of 5.33%[5] - Net Leverage is 58.6%[5, 40] - Total debt is $251.0 million[35] - Revenue from tenants is $12.3 million for Q3 2025[35] - Net income is $35.8 million for Q3 2025[35] Active Portfolio Management - The company entered into an agreement for the consensual foreclosure of 1140 Avenue of the Americas, eliminating a $99 million debt maturity[5] - The company continued the marketing process for the dispositions of 123 William St and 196 Orchard St[5, 7]