Net Lease Office Properties
Net Lease Office Properties (NYSE: NLOP) is a Maryland-based real estate investment trust that owns and manages a diversified portfolio of single-tenant office properties leased to corporate tenants on a net-lease basis. The company's website is located at nloproperties.com. From the company’s description.
Margins and return on equity change in ; everything else in percent. Fewer shares and less debt are shown plainly, not as bad news — it depends what you make of buybacks. Dotted labels explain each measure. is shown separately from the annual figures.
What Net Lease Office Properties does
In the company’s own words
Net Lease Office Properties (NYSE: NLOP) is a Maryland-based real estate investment trust that owns and manages a diversified portfolio of single-tenant office properties leased to corporate tenants on a net-lease basis. The company's website is located at nloproperties.com.
NLOP was created through a spinoff from W. P. Carey Inc. in November 2023, when WPC distributed a portfolio of 59 office assets into a separate publicly-traded company. Following the spinoff, WPC's wholly-owned affiliates serve as the company's external advisor, managing all aspects of operations including asset disposition, lease negotiations, debt management, and SEC filings under the supervision of NLOP's Board of Trustees.
As of December 31, 2025, NLOP's portfolio comprises 24 properties encompassing approximately 3.4 million net-leased square feet, generating annualized base rent of approximately $54.1 million. The portfolio is leased to 26 corporate tenants operating across various industries, with an occupancy rate of approximately 79 percent. The company has no employees; all management services are provided by its advisor.
The company's business strategy focuses on realizing shareholder value primarily through strategic asset management and disposition of its property portfolio over time. Proceeds from dispositions are anticipated to be used for shareholder distributions, debt reduction, and capital expenditures as needed. Approximately 91.6 percent of leases provide rent adjustments, with 76 percent fixed increases and 15.3 percent tied to the Consumer Price Index or similar metrics. The weighted-average lease term is 3.9 years.
NLOP elected to be taxed as a REIT effective November 1, 2023, and must distribute at least 90 percent of REIT taxable income annually to shareholders. The company's net leases typically require tenants to pay substantially all operating and maintenance costs associated with their properties, creating a relatively stable income stream. As of December 31, 2025, all properties were located in the United States, with significant geographic concentration in Texas and California. The company had approximately $21.9 million in outstanding indebtedness as of year-end 2025.
Company details
- Sector
- Real Estate
- Industry
- REITs
- Headquarters
- NEW YORK, NY
- Fiscal year end
- December
- CIK
- 1952976
- SIC
- 6798
Financial performance, year by year
Fiscal 2023–2025 · USDThe full income statement, balance sheet and cash flow for each of these years — every figure traceable to its filing — is on the Financials tab with a free account.
Who owns Net Lease Office Properties — and what changed
Funds as of 2026Q2 · superinvestors as of 2026-06-30
Largest fund holders · Net Lease Office Properties’s weight in each
Fund ownership is a floor, not a census — pensions, insurers and people holding shares directly are not visible here.
Fund ownership counts N-PORT filers only, so it is a floor rather than a census — pensions, insurers and direct holders are not visible here, and the remainder is not “held by individuals”.
Could not be determined for this company: bond issues.
Every fund and institutional holder, quarter by quarter, is on the Ownership tab with a free account.
Recent filings
All filings →Each filing opens into its own statements and disclosures here.
Put this business in context.
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