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#Noi webcast series#

Net Operating Income was approximately $28.7 million and Adjusted Cash NOI (CIO share) was approximately $26.9 million for the second quarter of 2022. Excluding the Bloc 83 property, portfolio occupancy was 88.6% as of June 30, 2022. Occupancy was impacted by the newly constructed Bloc 83 property in Raleigh, North Carolina that is completing its initial lease-up phase and has signed leases that have not yet taken occupancy. The Company reported that its total portfolio as of Jcontained 6.0 million net rentable square feet and was 86.9% occupied. generally accepted accounting principles ("GAAP") can be found at the end of this release.

We have provided a slide analyzing the stock repurchase metrics in our August Investor Presentation that can be found in the Investor Relations section of our website at A reconciliation of certain non-GAAP financial measures, including FFO, Core FFO, AFFO, NOI, Same Store NOI, Same Store Cash NOI, Adjusted Cash NOI and their equivalent per share measures, to the most directly comparable financial measure under U.S. In that regard, we closed the sale of our Lake Vista Pointe property for a $22 million gain and have repurchased $30 million of shares of common stock to date at what we believe is a steep discount to their inherent value. We are also focused on opportunities to generate incremental value. "During 2022, a major priority has been executing our spec suite program and advancing strategic enhancements across our portfolio to drive leasing results. Leasing tour activity and tenant utilization trends continue to improve, giving us confidence in the trajectory of our business." "We have built an attractive portfolio of high-quality and amenitized buildings that aligns with tenants' desire for vibrant office locations. "Our properties are predominantly located in desirable Sun Belt locations positioned for long term growth," commented James Farrar, the Company's Chief Executive Officer.

#Noi webcast series#

Declared a second quarter dividend of $0.4140625 per share of Series A Preferred Stock, paid on July 22, 2022.

Declared a second quarter dividend of $0.20 per share of common stock, paid on Jand.

During the quarter and subsequent to quarter end, the Company completed the repurchase of 2,302,694 shares of common stock at an average gross price of $13.11 per share for an aggregate cost of approximately $30.2 million.

Executed approximately 254,000 square feet of new and renewal leases during the quarter.

In-place occupancy closed the quarter at 86.9%.

Closed the disposition of the Lake Vista Pointe property in Dallas, Texas for a gross sales price of $43.8 million, generating a gain on sale of $21.7 million.

AFFO was approximately $8.0 million, or $0.18 per fully diluted share.

Core FFO was approximately $17.6 million, or $0.40 per fully diluted share.

GAAP net income attributable to common stockholders was approximately $1.0 million, or $0.02 per fully diluted share

Rental and other revenues were $45.5 million.( NYSE: CIO) (the "Company," "City Office," "we" or "our") today announced its results for the quarter ended June 30, 2022. 4, 2022 /PRNewswire/ - City Office REIT, Inc.