secwatch.observer — SEC 8-K summary
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Issuer:     Industrial Logistics Properties Trust (ILPT)
CIK:        0001717307
Form:       8-K
Filed at:   2022-10-25T23:59:59+00:00
Accession:  0001717307-22-000038
Event type: earnings
Sentiment:  negative
Materiality: 0.75
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

ILPT Q3 net loss $0.70/sh on bridge loan charges; Normalized FFO $0.23, down 50% YoY
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- Net loss attributable to common shareholders of $45.6M ($0.70/diluted share) vs net income of $18.3M ($0.28) in Q3 2021.
- Normalized FFO per share $0.23, down 50% YoY from $0.46; includes $31.4M amortized bridge loan costs and $21.4M loss on debt extinguishment.
- $1.2B debt financing completed, fully repaying $1.4B bridge loan facility; loans mature Oct 2024 with three 1-yr extension options.
- Leased 1.685M sq ft at 77.5% higher rental rates; same property NOI down 0.3% (up 2.6% excluding $1.2M bad debt reserve).
- Occupancy 99.2%; acquired 226k sq ft property in Augusta, GA for $38M via 61% JV; terminated other committed MNR acquisition.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1717307/000171730722000038/0001717307-22-000038-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1717307/000171730722000038/ilpt-20221025.htm
  HTML page:      https://secwatch.observer/filing/0001717307-22-000038

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