$NLOP
Net Lease Office Properties

2024 Q3 Form 10-Q Financial Statement

#000195297624000042 Filed on August 08, 2024

View on sec.gov

Income Statement

Concept 2024 Q3 2024 Q2 2023 Q2
Revenue $31.48M $39.03M $85.47M
YoY Change -26.98% -54.33%
Cost Of Revenue $11.44M $17.87M
YoY Change -35.97%
Gross Profit $27.59M $67.60M
YoY Change -59.19%
Gross Profit Margin 70.69% 79.1%
Selling, General & Admin $1.880M $6.599M
YoY Change -71.51%
% of Gross Profit 6.81% 9.76%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $5.300M $6.100M $36.46M
YoY Change -71.04% -83.27% 25.21%
% of Gross Profit 22.11% 53.93%
Operating Expenses $17.00M $43.58M
YoY Change -60.98%
Operating Profit $10.59M $24.02M
YoY Change -55.93%
Interest Expense -$27.80M -$16.38M
YoY Change 69.7%
% of Operating Profit -262.57% -68.19%
Other Income/Expense, Net -$11.99M $10.26M $49.00K
YoY Change 39876.67% 20832.65%
Pretax Income -$39.79M $12.62M $7.691M
YoY Change -1417.52% 64.11%
Income Tax $485.0K $149.0K $72.00K
% Of Pretax Income 1.18% 0.94%
Net Earnings -$40.30M $12.45M $7.568M
YoY Change -1559.96% 64.52%
Net Earnings / Revenue -128.0% 31.9% 8.85%
Basic Earnings Per Share -$2.73 $0.84 $0.26
Diluted Earnings Per Share -$2.73 $0.84 $0.52
COMMON SHARES
Basic Shares Outstanding 14.79M shares 14.79M shares 14.62M shares
Diluted Shares Outstanding 14.79M shares 14.81M shares 14.62M shares

Balance Sheet

Concept 2024 Q3 2024 Q2 2023 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $36.08M $5.500M
YoY Change 555.96%
Cash & Equivalents $36.10M $36.08M $5.500M
Short-Term Investments
Other Short-Term Assets
YoY Change
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets $36.08M $5.500M
YoY Change 555.96%
LONG-TERM ASSETS
Property, Plant & Equipment $924.8M $1.301B
YoY Change -28.94%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $44.63M
YoY Change
Total Long-Term Assets $1.009B $1.416B
YoY Change -28.75%
TOTAL ASSETS
Total Short-Term Assets $36.08M $5.500M
Total Long-Term Assets $1.009B $1.416B
Total Assets $919.9M $1.045B $1.421B
YoY Change 1415253746.15% -26.49%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $40.81M $49.00M
YoY Change -16.72%
Accrued Expenses
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $40.81M $49.00M
YoY Change -16.72%
LONG-TERM LIABILITIES
Long-Term Debt $327.4M $265.3M
YoY Change 23.41%
Other Long-Term Liabilities $8.661M $13.00M
YoY Change -33.38%
Total Long-Term Liabilities $336.1M $278.3M
YoY Change 20.75%
TOTAL LIABILITIES
Total Short-Term Liabilities $40.81M $49.00M
Total Long-Term Liabilities $336.1M $278.3M
Total Liabilities $293.8M $380.0M $342.2M
YoY Change -12.4% 11.05%
SHAREHOLDERS EQUITY
Retained Earnings
YoY Change
Common Stock $15.00K $15.00K
YoY Change 1499900.0%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $621.9M $660.3M $1.079B
YoY Change
Total Liabilities & Shareholders Equity $919.9M $1.045B $1.421B
YoY Change -35.17% -26.49%

Cashflow Statement

Concept 2024 Q3 2024 Q2 2023 Q2
OPERATING ACTIVITIES
Net Income -$40.30M $12.45M $7.568M
YoY Change -1559.96% 64.52%
Depreciation, Depletion And Amortization $5.300M $6.100M $36.46M
YoY Change -71.04% -83.27% 25.21%
Cash From Operating Activities $20.29M $14.69M $43.22M
YoY Change -1.72% -66.01% 12.46%
INVESTING ACTIVITIES
Capital Expenditures $1.980M $1.646M $2.540M
YoY Change -4.81% -35.2% 42.7%
Acquisitions
YoY Change
Other Investing Activities $79.13M $152.4M
YoY Change
Cash From Investing Activities $77.15M $150.8M -$2.540M
YoY Change -3809.23% -6036.46% 42.7%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -92.93M -173.1M -40.45M
YoY Change 400.43% 328.04% -3.44%
NET CHANGE
Cash From Operating Activities 20.29M 14.69M 43.22M
Cash From Investing Activities 77.15M 150.8M -2.540M
Cash From Financing Activities -92.93M -173.1M -40.45M
Net Change In Cash 4.517M -7.665M 230.0K
YoY Change -3432.61% -104.39%
FREE CASH FLOW
Cash From Operating Activities $20.29M $14.69M $43.22M
Capital Expenditures $1.980M $1.646M $2.540M
Free Cash Flow $18.31M $13.05M $40.68M
YoY Change -1.38% -67.93% 11.0%

Facts In Submission

Frame Concept Type Concept / XBRL Key Value Unit
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StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
1083405000 usd
us-gaap Profit Loss
ProfitLoss
-15348000 usd
us-gaap Profit Loss
ProfitLoss
7619000 usd
nlop Depreciation And Amortization Including Intangible Assets And Deferred Financing Costs
DepreciationAndAmortizationIncludingIntangibleAssetsAndDeferredFinancingCosts
54679000 usd
nlop Depreciation And Amortization Including Intangible Assets And Deferred Financing Costs
DepreciationAndAmortizationIncludingIntangibleAssetsAndDeferredFinancingCosts
36461000 usd
us-gaap Gain Loss On Sale Of Properties
GainLossOnSaleOfProperties
21947000 usd
us-gaap Gain Loss On Sale Of Properties
GainLossOnSaleOfProperties
0 usd
us-gaap Impairment Of Real Estate
ImpairmentOfRealEstate
12287000 usd
nlop Amortization Of Rent Related Intangibles And Deferred Rental Revenue
AmortizationOfRentRelatedIntangiblesAndDeferredRentalRevenue
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nlop Amortization Of Rent Related Intangibles And Deferred Rental Revenue
AmortizationOfRentRelatedIntangiblesAndDeferredRentalRevenue
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nlop Realized Gain Loss On Foreign Currency Transactions And Other
RealizedGainLossOnForeignCurrencyTransactionsAndOther
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nlop Realized Gain Loss On Foreign Currency Transactions And Other
RealizedGainLossOnForeignCurrencyTransactionsAndOther
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us-gaap Straight Line Rent Adjustments
StraightLineRentAdjustments
1510000 usd
us-gaap Straight Line Rent Adjustments
StraightLineRentAdjustments
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us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
150000 usd
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
1613000 usd
us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
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nlop Proceeds From Lease Payment Sales Type And Direct Financing Leases Operating Activity
ProceedsFromLeasePaymentSalesTypeAndDirectFinancingLeasesOperatingActivity
10341000 usd
nlop Proceeds From Lease Payment Sales Type And Direct Financing Leases Operating Activity
ProceedsFromLeasePaymentSalesTypeAndDirectFinancingLeasesOperatingActivity
0 usd
us-gaap Increase Decrease In Other Operating Capital Net
IncreaseDecreaseInOtherOperatingCapitalNet
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us-gaap Increase Decrease In Other Operating Capital Net
IncreaseDecreaseInOtherOperatingCapitalNet
3457000 usd
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
41084000 usd
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
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us-gaap Proceeds From Sale Of Real Estate Heldforinvestment
ProceedsFromSaleOfRealEstateHeldforinvestment
184855000 usd
us-gaap Proceeds From Sale Of Real Estate Heldforinvestment
ProceedsFromSaleOfRealEstateHeldforinvestment
0 usd
nlop Payments To Acquire Real Estate Under Construction
PaymentsToAcquireRealEstateUnderConstruction
7312000 usd
nlop Payments To Acquire Real Estate Under Construction
PaymentsToAcquireRealEstateUnderConstruction
2541000 usd
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
177543000 usd
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-2541000 usd
us-gaap Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
203968000 usd
us-gaap Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
7130000 usd
us-gaap Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
1071000 usd
us-gaap Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
0 usd
us-gaap Payments Of Dividends Minority Interest
PaymentsOfDividendsMinorityInterest
151000 usd
us-gaap Payments Of Dividends Minority Interest
PaymentsOfDividendsMinorityInterest
0 usd
us-gaap Proceeds From Payments For Other Financing Activities
ProceedsFromPaymentsForOtherFinancingActivities
11000 usd
us-gaap Proceeds From Payments For Other Financing Activities
ProceedsFromPaymentsForOtherFinancingActivities
75000 usd
nlop Proceeds From Payments For Net Transfers Related To Parent Company Investment
ProceedsFromPaymentsForNetTransfersRelatedToParentCompanyInvestment
0 usd
nlop Proceeds From Payments For Net Transfers Related To Parent Company Investment
ProceedsFromPaymentsForNetTransfersRelatedToParentCompanyInvestment
-36230000 usd
us-gaap Proceeds From Minority Shareholders
ProceedsFromMinorityShareholders
0 usd
us-gaap Proceeds From Minority Shareholders
ProceedsFromMinorityShareholders
2840000 usd
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-205179000 usd
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-40445000 usd
us-gaap Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
-570000 usd
us-gaap Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
-102000 usd
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
12878000 usd
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
134000 usd
CY2023Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
67829000 usd
CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
5998000 usd
CY2024Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
80707000 usd
us-gaap Nature Of Operations
NatureOfOperations
Business and Organization<div><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Pursuant to the terms of a separation and distribution agreement, W. P. Carey Inc. (“WPC”) spun off a portfolio of 59 office assets into a separate publicly-traded company (the “Spin-Off”). To accomplish this Spin-Off, WPC formed a Maryland real estate investment trust, Net Lease Office Properties (“NLOP”), on October 21, 2022, to own the 59 office assets. Information with respect to number of properties and square footage is unaudited.</span></div><div><span><br/></span></div><div><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">On November 1, 2023, WPC completed the Spin-Off, contributing 59 office properties to NLOP. Following the closing of the Spin-Off, NLOP operates as a separate publicly-traded real estate investment trust (“REIT”), and certain wholly-owned affiliates of WPC (our “Advisor”) externally manage NLOP pursuant to certain advisory agreements (the “NLOP Advisory Agreements”). The Spin-Off was accomplished via a pro rata dividend of 1 NLOP common share for every 15 shares of WPC common stock outstanding.</span></div><div><span><br/></span></div><div><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">NLOP intends to qualify and elect to be taxed as a REIT under Sections 856 through 860 of the Internal Revenue Code, commencing with the Company’s taxable year ended December 31, 2023.</span></div><div><span><br/></span></div><div><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">NLOP operates as one segment, and through its subsidiaries, owns, operates, and finances office buildings. As of June 30, 2024, NLOP’s portfolio was comprised of full or partial ownership interests in 47 properties, net leased to 50 corporate tenants, totaling approximately 7.5 million leasable square feet (including 0.6 million of operating square footage for a parking garage at a domestic property), with a weighted-average lease term of 5.2 years.</span></div>
us-gaap Number Of Operating Segments
NumberOfOperatingSegments
1 segment
CY2024Q2 us-gaap Number Of Real Estate Properties
NumberOfRealEstateProperties
47 property
CY2024Q2 nlop Number Of Tenants
NumberOfTenants
50 tenant
CY2024Q2 us-gaap Area Of Real Estate Property
AreaOfRealEstateProperty
7500000 acre
us-gaap Variable Interest Entity Number Of Entities With Unavailability Of Information
VariableInterestEntityNumberOfEntitiesWithUnavailabilityOfInformation
1 vie
CY2023 us-gaap Variable Interest Entity Number Of Entities With Unavailability Of Information
VariableInterestEntityNumberOfEntitiesWithUnavailabilityOfInformation
1 vie
CY2024Q2 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
36078000 usd
CY2023Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
16269000 usd
CY2024Q2 us-gaap Restricted Cash
RestrictedCash
44629000 usd
CY2023Q4 us-gaap Restricted Cash
RestrictedCash
51560000 usd
CY2024Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
80707000 usd
CY2023Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
67829000 usd
CY2024Q2 nlop Debt Covenant Cash Requirements
DebtCovenantCashRequirements
43400000 usd
CY2023Q4 nlop Debt Covenant Cash Requirements
DebtCovenantCashRequirements
48400000 usd
CY2024Q2 us-gaap Related Party Transaction Amounts Of Transaction
RelatedPartyTransactionAmountsOfTransaction
2599000 usd
us-gaap Related Party Transaction Amounts Of Transaction
RelatedPartyTransactionAmountsOfTransaction
5403000 usd
CY2024Q2 nlop Number Of Jointly Owned Investments
NumberOfJointlyOwnedInvestments
1 investment
CY2024Q2 us-gaap Property Subject To Or Available For Operating Lease Accumulated Depreciation
PropertySubjectToOrAvailableForOperatingLeaseAccumulatedDepreciation
169883000 usd
CY2023Q4 us-gaap Property Subject To Or Available For Operating Lease Accumulated Depreciation
PropertySubjectToOrAvailableForOperatingLeaseAccumulatedDepreciation
213034000 usd
CY2024Q2 nlop Real Estate Investment Property Net Real Estate Leased
RealEstateInvestmentPropertyNetRealEstateLeased
734306000 usd
CY2023Q4 nlop Real Estate Investment Property Net Real Estate Leased
RealEstateInvestmentPropertyNetRealEstateLeased
990957000 usd
nlop Property Pant And Equipment Decrease Foreign Currency Exchange
PropertyPantAndEquipmentDecreaseForeignCurrencyExchange
4300000 usd
CY2024Q2 us-gaap Depreciation
Depreciation
6100000 usd
CY2023Q2 us-gaap Depreciation
Depreciation
7800000 usd
us-gaap Depreciation
Depreciation
13300000 usd
CY2024Q2 us-gaap Operating Lease Lease Income Lease Payments
OperatingLeaseLeaseIncomeLeasePayments
27182000 usd
CY2023Q2 us-gaap Operating Lease Lease Income Lease Payments
OperatingLeaseLeaseIncomeLeasePayments
33960000 usd
us-gaap Operating Lease Lease Income Lease Payments
OperatingLeaseLeaseIncomeLeasePayments
58544000 usd
CY2024Q2 us-gaap Operating Lease Variable Lease Income
OperatingLeaseVariableLeaseIncome
7967000 usd
CY2023Q2 us-gaap Operating Lease Variable Lease Income
OperatingLeaseVariableLeaseIncome
7597000 usd
us-gaap Operating Lease Variable Lease Income
OperatingLeaseVariableLeaseIncome
14919000 usd
CY2024Q2 us-gaap Operating Lease Lease Income
OperatingLeaseLeaseIncome
35149000 usd
CY2023Q2 us-gaap Operating Lease Lease Income
OperatingLeaseLeaseIncome
41557000 usd
us-gaap Operating Lease Lease Income
OperatingLeaseLeaseIncome
73463000 usd
CY2024Q2 us-gaap Gain Loss On Termination Of Lease
GainLossOnTerminationOfLease
3100000 usd
us-gaap Gain Loss On Termination Of Lease
GainLossOnTerminationOfLease
7800000 usd
CY2024Q2 us-gaap Other Income
OtherIncome
500000 usd
CY2023Q2 us-gaap Other Income
OtherIncome
500000 usd
us-gaap Other Income
OtherIncome
1000000.0 usd
CY2024Q2 nlop Assets Held For Sale Not Part Of Disposal Group Accumulated Depreciation
AssetsHeldForSaleNotPartOfDisposalGroupAccumulatedDepreciation
5205000 usd
CY2023Q4 nlop Assets Held For Sale Not Part Of Disposal Group Accumulated Depreciation
AssetsHeldForSaleNotPartOfDisposalGroupAccumulatedDepreciation
0 usd
CY2024Q2 nlop Real Estate Investments Net Including Real Estate Held For Sale
RealEstateInvestmentsNetIncludingRealEstateHeldForSale
68884000 usd
CY2023Q4 nlop Real Estate Investments Net Including Real Estate Held For Sale
RealEstateInvestmentsNetIncludingRealEstateHeldForSale
0 usd
CY2024Q2 us-gaap Sales Type Lease Lease Receivable
SalesTypeLeaseLeaseReceivable
0 usd
CY2023Q4 us-gaap Sales Type Lease Lease Receivable
SalesTypeLeaseLeaseReceivable
10614000 usd
CY2024Q2 nlop Sales Type Lease Net Investment In Lease Excluding Deferred Selling Profit
SalesTypeLeaseNetInvestmentInLeaseExcludingDeferredSellingProfit
0 usd
CY2023Q4 nlop Sales Type Lease Net Investment In Lease Excluding Deferred Selling Profit
SalesTypeLeaseNetInvestmentInLeaseExcludingDeferredSellingProfit
10614000 usd
CY2024Q2 nlop Sales Type Lease Deferred Selling Profit
SalesTypeLeaseDeferredSellingProfit
0 usd
CY2023Q4 nlop Sales Type Lease Deferred Selling Profit
SalesTypeLeaseDeferredSellingProfit
92000 usd
CY2024Q2 us-gaap Sales Type Lease Net Investment In Lease
SalesTypeLeaseNetInvestmentInLease
0 usd
CY2023Q4 us-gaap Sales Type Lease Net Investment In Lease
SalesTypeLeaseNetInvestmentInLease
10522000 usd
CY2023Q3 nlop Number Of Real Estate Properties Reclassified From Direct Financing Lease To Property Plant And Equipment
NumberOfRealEstatePropertiesReclassifiedFromDirectFinancingLeaseToPropertyPlantAndEquipment
4 property
CY2023Q2 us-gaap Direct Financing Lease Interest Income
DirectFinancingLeaseInterestIncome
400000 usd
us-gaap Direct Financing Lease Interest Income
DirectFinancingLeaseInterestIncome
900000 usd
CY2024Q2 us-gaap Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
292092000 usd
CY2024Q2 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
172493000 usd
CY2024Q2 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
119599000 usd
CY2023Q4 us-gaap Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
411479000 usd
CY2023Q4 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
245396000 usd
CY2023Q4 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
166083000 usd
CY2024Q2 us-gaap Below Market Lease Gross
BelowMarketLeaseGross
23432000 usd
CY2024Q2 us-gaap Below Market Lease Accumulated Amortization
BelowMarketLeaseAccumulatedAmortization
14771000 usd
CY2024Q2 us-gaap Below Market Lease Net
BelowMarketLeaseNet
8661000 usd
CY2023Q4 us-gaap Below Market Lease Gross
BelowMarketLeaseGross
26801000 usd
CY2023Q4 us-gaap Below Market Lease Accumulated Amortization
BelowMarketLeaseAccumulatedAmortization
16158000 usd
CY2023Q4 us-gaap Below Market Lease Net
BelowMarketLeaseNet
10643000 usd
us-gaap Finite Lived Intangible Assets Foreign Currency Translation Gain Loss
FiniteLivedIntangibleAssetsForeignCurrencyTranslationGainLoss
-400000 usd
CY2024Q2 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
9800000 usd
CY2023Q2 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
10800000 usd
us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
21500000 usd
us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
21500000 usd
CY2023Q4 us-gaap Derivative Asset Collateral Obligation To Return Cash Offset
DerivativeAssetCollateralObligationToReturnCashOffset
0 usd
CY2024Q2 us-gaap Derivative Asset Collateral Obligation To Return Cash Offset
DerivativeAssetCollateralObligationToReturnCashOffset
0 usd
CY2024Q2 us-gaap Derivative Fair Value Of Derivative Asset
DerivativeFairValueOfDerivativeAsset
130000 usd
CY2023Q4 us-gaap Derivative Fair Value Of Derivative Asset
DerivativeFairValueOfDerivativeAsset
433000 usd
CY2024Q2 us-gaap Other Comprehensive Income Loss Cash Flow Hedge Gain Loss After Reclassification And Tax
OtherComprehensiveIncomeLossCashFlowHedgeGainLossAfterReclassificationAndTax
572000 usd
CY2023Q2 us-gaap Other Comprehensive Income Loss Cash Flow Hedge Gain Loss After Reclassification And Tax
OtherComprehensiveIncomeLossCashFlowHedgeGainLossAfterReclassificationAndTax
0 usd
CY2024Q2 us-gaap Other Comprehensive Income Loss Cash Flow Hedge Gain Loss Reclassification Before Tax
OtherComprehensiveIncomeLossCashFlowHedgeGainLossReclassificationBeforeTax
-705000 usd
CY2023Q2 us-gaap Other Comprehensive Income Loss Cash Flow Hedge Gain Loss Reclassification Before Tax
OtherComprehensiveIncomeLossCashFlowHedgeGainLossReclassificationBeforeTax
0 usd
CY2024Q2 us-gaap Gain Loss On Derivative Instruments Net Pretax
GainLossOnDerivativeInstrumentsNetPretax
-15000 usd
CY2023Q2 us-gaap Gain Loss On Derivative Instruments Net Pretax
GainLossOnDerivativeInstrumentsNetPretax
0 usd
us-gaap Gain Loss On Derivative Instruments Net Pretax
GainLossOnDerivativeInstrumentsNetPretax
-17000 usd
us-gaap Gain Loss On Derivative Instruments Net Pretax
GainLossOnDerivativeInstrumentsNetPretax
0 usd
CY2024Q2 us-gaap Interest Rate Derivatives At Fair Value Net
InterestRateDerivativesAtFairValueNet
130000 usd
CY2024Q2 us-gaap Derivative Asset Collateral Obligation To Return Cash Offset
DerivativeAssetCollateralObligationToReturnCashOffset
0 usd
CY2024Q2 us-gaap Credit Derivative Maximum Exposure Undiscounted
CreditDerivativeMaximumExposureUndiscounted
100000 usd
CY2023Q3 nlop Debt Instrument Extension Term
DebtInstrumentExtensionTerm
P1Y
CY2023Q3 us-gaap Payments Of Distributions To Affiliates
PaymentsOfDistributionsToAffiliates
343900000 usd
CY2023Q3 nlop Number Of Encumbered Property
NumberOfEncumberedProperty
40 property
CY2024Q2 nlop Number Of Encumbered Property
NumberOfEncumberedProperty
32 property
nlop Number Of Properties Sold
NumberOfPropertiesSold
8 property
nlop Debt Instrument Decrease Foreign Currency Exchange
DebtInstrumentDecreaseForeignCurrencyExchange
1900000 usd
CY2024Q2 us-gaap Long Term Debt Maturities Repayments Of Principal Remainder Of Fiscal Year
LongTermDebtMaturitiesRepaymentsOfPrincipalRemainderOfFiscalYear
22558000 usd
CY2024Q2 us-gaap Long Term Debt Maturities Repayments Of Principal In Next Twelve Months
LongTermDebtMaturitiesRepaymentsOfPrincipalInNextTwelveMonths
217567000 usd
CY2024Q2 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Two
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo
7379000 usd
CY2024Q2 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Three
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree
0 usd
CY2024Q2 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Four
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFour
89345000 usd
CY2024Q2 us-gaap Debt Instrument Carrying Amount
DebtInstrumentCarryingAmount
336849000 usd
CY2024Q2 us-gaap Debt Instrument Unamortized Discount Premium Net
DebtInstrumentUnamortizedDiscountPremiumNet
6559000 usd
CY2024Q2 us-gaap Deferred Finance Costs Net
DeferredFinanceCostsNet
2894000 usd
CY2024Q2 us-gaap Debt Longterm And Shortterm Combined Amount
DebtLongtermAndShorttermCombinedAmount
327396000 usd
CY2024Q2 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
100000 usd
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
200000 usd
CY2023Q4 us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
0.34
CY2023Q4 us-gaap Stock Dividends Shares
StockDividendsShares
164199 shares
CY2023Q4 us-gaap Payments Of Dividends
PaymentsOfDividends
1100000 usd
CY2024Q2 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
12451000 usd
CY2024Q2 us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
12451000 usd
CY2023Q2 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
3825000 usd
CY2023Q2 us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
3825000 usd
us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-15391000 usd
us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
-15391000 usd
us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
7568000 usd
us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
7568000 usd
CY2024Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
14785118 shares
CY2023Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
14620919 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
14785118 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
14620919 shares
CY2024Q2 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
22842 shares
CY2023Q2 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
0 shares
us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
0 shares
us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
0 shares
CY2024Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
14807960 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
14620919 shares

Files In Submission

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