M&A
confidence high
sentiment negative
materiality 0.60
ILPT pro forma net loss widens to $237.9M for 9M 2022 after MNR acquisition
Industrial Logistics Properties Trust
- Pro forma net loss attributable to common shareholders of $237.9M vs historical $195.7M; diluted loss per share $3.65 vs $3.00.
- Pro forma rental income $311.4M (historical $281.8M) from MNR properties and financing adjustments.
- Acquisition financed with $1.4B floating rate CMBS loan, $1.385B bridge loan (repaid Sep 2022), and $700M fixed rate CMBS loan.
- Interest expense pro forma $244.6M; includes $22.2M loss on early extinguishment of debt.
- Pro forma reflects 39% noncontrolling interest in JV with 93 MNR properties and 33% in one TIC property.