---
schema_version: "secwatch.filing_event.v1"
accession: "0001952976-26-000058"
form_type: "8-K"
ticker: "NLOP"
cik: "0001952976"
company_name: "Net Lease Office Properties"
filed_at: "2026-08-05T20:06:05+00:00"
generated_at: "2026-08-05T20:07:49.076646+00:00"
event_type: "other_material"
sentiment: "negative"
materiality_score: 0.6
calibrated_materiality_score: 0.6
confidence: "high"
source: SEC EDGAR
---

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

## Summary
- 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.

## SEC filing metadata
- accession: 0001952976-26-000058
- form_type: 8-K
- ticker: NLOP
- cik: 0001952976
- company_name: Net Lease Office Properties
- filed_at: 2026-08-05T20:06:05+00:00
- event_type: other_material
- sentiment: negative
- materiality_score: 0.6
- calibrated_materiality_score: 0.6
- confidence: high
- sec_items: 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1952976/000195297626000058/0001952976-26-000058-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1952976/000195297626000058/nlop-20260805.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001952976-26-000058
- JSON: https://secwatch.observer/filing/0001952976-26-000058.json
- Plain text: https://secwatch.observer/filing/0001952976-26-000058.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.