![]() NOI from continuing operations, which is defined as rental revenue less operating expenses of rental properties and real estate taxes, increased 31.4% to approximately $9.2 million in the 2022 second quarter from $7.0 million in the 2021 second quarter.Ĭash NOI from continuing operations for the 2022 second quarter increased 24.2% to $8.2 million as compared to $6.6 million for the comparable prior year period. Recognized as a 2022 Green Lease Leader for innovation in environmental stewardship, including collaborative tenant engagement.Added to the MSCI US REIT Index as part of the May 2022 Semi-Annual Index Review for the MSCI Equity Indexes.Repaid four existing mortgages covering ten buildings with $60 million in proceeds from the DDTL resulting in no fixed-rate debt maturities until 2027.Amended and restated the existing $100 million credit agreement to increase the size to $250 million with the addition of a new $150 million delayed draw term loan with a term of five years (the “DDTL”).Leased the remaining 78,000 square feet in the 234,000 square foot development in Connecticut expected to deliver late in Q3 2022.Subsequent to quarter end, executed a lease for the remaining space and the building is now fully-leased Completed and placed into service a 66% pre-leased, approximately 102,000 square foot building in Lehigh Valley, Pennsylvania.Acquired a fully-leased, approximately 205,000 square foot portfolio of last-mile industrial/logistics buildings located in the Orlando and Palm Beach, Florida markets.As of June 30, 2022, stabilized 2 portfolio was 100.0% leased total in-service portfolio was 99.4% leased. ![]() Net Operating Income from Continuing Operations (“NOI from continuing operations”) 1 of $9.2 million for the 2022 second quarter compared to $7.0 million for the 2021 second quarter.Core Funds from Continuing Operations (“Core FFO from continuing operations”) 1 of $5.0 million, or $0.48 per diluted share, for the 2022 second quarter compared to $2.9 million, or $0.37 per diluted share, for the 2021 second quarter.Net income of $2.8 million, or $0.27 per diluted share, for the 2022 second quarter compared to a net loss of $1.2 million, or $0.15 per diluted share, for the quarter ending J(the “2021 second quarter”).based industrial/logistics REIT, today reported financial results for the quarter ending J(the “2022 second quarter”). (Nasdaq: INDT) (“INDUS” or the “Company”), a U.S.
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