secwatch.observer — SEC 8-K summary
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Issuer:     OFFICE PROPERTIES INCOME TRUST (OPIRQ)
CIK:        0001456772
Form:       8-K
Filed at:   2023-02-15T23:59:59+00:00
Accession:  0001456772-23-000011
Event type: earnings
Sentiment:  neutral
Materiality: 0.70
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

OPI Q4 net income $0.13/share, Normalized FFO $1.13; occupancy 90.6%, leases 705K sq ft
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- Net income of $6.4M ($0.13 diluted EPS) vs $16.9M ($0.35) in Q4 2021; Normalized FFO of $54.5M ($1.13) vs $58.1M ($1.20).
- Leased 705,000 sq ft in Q4 with a 10.1-year weighted average lease term; 2022 annual leasing rent roll-up of 5.6%.
- Portfolio occupancy 90.6% at Dec 31, 2022, up 110 bps YoY; Same Property Cash Basis NOI down 1.4%.
- Sold five properties for $20.5M since Oct 1, 2022; $12.2M cash + $555M credit facility liquidity.
- Two redevelopment projects: 20 Massachusetts Ave (54% pre-leased, completion Q2 2023) and Seattle (28% pre-leased, Q4 2023).

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1456772/000145677223000011/0001456772-23-000011-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1456772/000145677223000011/opi-20230215.htm
  HTML page:      https://secwatch.observer/filing/0001456772-23-000011

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer