NLOP portfolio shrinks to 18 properties; Intuit mortgage in default; $3.30 special distribution paid

Net Lease Office Properties

Portfolio reduced from 59 to 18 properties; ABR down from $145M to $25M since spin in 2023.
Paid special cash distribution of $3.30 per share (~$49M) on April 14, 2026; total distributions $22.69/share (~$336M).
Intuit property mortgage ($22M, 7.0% rate) matured July 6, 2026 and not repaid; lender may foreclose; default interest accruing at 5% additional.
Lease renewals and extensions on 1.2M sq ft achieved 91.9% rent recapture; new leases added $780K ABR.
Gross proceeds from 41 property dispositions total $813M; remaining portfolio has 18 properties with $24.8M ABR.

This headline and bullets were generated automatically by deepseek-v4-flash:cloud@v2 from the public filing. Read the source on SEC.gov before relying on any specific claim. Not investment advice. See methodology for how this pipeline works.