Attached files
| file | filename |
|---|---|
| 8-K - 8-K - COLUMBIA PROPERTY TRUST, INC. | cxp8-k201710presentation.htm |
183
248
248
80
277
$150,000
$170,000
$190,000
$210,000
$230,000
$250,000
$270,000
$290,000
3Q 17
Cash NOI
Annualized
Dispositions
333 Market St.
University Circle
(Remaining 22.5%)
Acquisitions
1800 M St 55%
Acquisitions
NYRT Assets
Uncommenced
Leases &
Free Rent
Burnoff
Lease Rent
Escalations
Lease
Expirations
Lease Up
Expired Space
Lease Up
Vacant Space
Pro Forma
Cash NOI
NOI Bridge - Cash Rents
Allianz JV
Contractual
RECONCILIATIONS: NON-GAAP TO COMPARABLE GAAP
MEASURES
Three Months
(in thousands) Ended 9/30/17 Annualized
Net Cash Provided by Operating Activities $ 11,152 $ 44,608
Straight line rental income 8,501 34,004
Depreciation of real estate assets (18,501) (74,004)
Amortization of lease-related costs (7,326) (29,304)
Gain from unconsolidated joint venture 2,853 11,412
Gain on sale of real estate 102,365 409,460
Other non-cash expenses (2,584) (10,336)
Net changes in operating assets & liabilities 5,074 20,296
Net Income $ 101,534 $ 406,136
Interest expense (net) 13,690 54,760
Interest income from development authority bonds (1,800) (7,200)
Income tax benefit 3 12
Depreciation of real estate assets 18,501 74,004
Amortization of lease-related costs 6,870 27,480
Adjustments from unconsolidated joint venture 9,286 37,144
EBITDA $ 148,084 $ 592,336
Gain on sale of real estate assets (102,365) (409,460)
Loss on early extinguishment of debt 280 1,120
Adjusted EBITDA $ 45,999 $ 183,996
Asset & property management fee income (1,154) (4,616)
General and administrative – corporate 7,034 28,136
General and administrative – unconsolidated joint ventures 713 2,852
Straight line rental income (8,307) (33,228)
Net effect of below market amortization 457 1,828
Adjustments from unconsolidated joint venture 930 3,720
Net Operating Income (based on cash rents) $ 45,672 $ 182,688
RECONCILIATIONS: NON-GAAP TO COMPARABLE GAAP
MEASURES
(continued from prior page)
(in thousands) Three Months
Ended 9/30/17 Annualized
Net Operating Income (based on cash rents) $ 45,672 $ 182,688
Dispositions – 333 Market St. & University Circle, remaining 22.5% (Allianz JV) (2,994) (11,976)
Acquisitions – 1800 M Street, 55% (Allianz JV) 2,611 10,444
Acquisitions – NYRT Assets 6,028 24,112
Uncommenced Leases & Free Rent Burnoff 11,575 46,300
Lease Rent Escalations 1,150 4,600
Lease Expirations (1,955) (7,820)
Lease Up Expired Space 2,250 9,000
Lease Up Vacant Space 5,000 20,000
Net Operating Income (based on cash rents) – “Pro Forma” $ 69,337 $ 277,348