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ILPT-News
ILPT-Events
ILPT Reports 48% Year-over-Year Growth in FFO per Share for Q2
CEO Yael Duffy said, "ILPT delivered a solid second quarter, driven by exceptional leasing execution and meaningful earnings growth. During the quarter, we completed nearly 5.4 million square feet of leasing at a weighted average rent roll-up of more than 35%, marking our seventh consecutive quarter of double-digit rent growth. The leasing of two previously vacant properties in Indiana and Hawaii, totaling approximately 2.8 million square feet, lifted portfolio occupancy to over 99% with a weighted average lease term of eight years. Same property Cash Basis NOI increased 2.0%, and Normalized FFO per share grew 48% to $0.31, year over year"
Industrial Logistics Properties Trust Increases Quarterly Cash Distribution to $0.10 per Share
Industrial Logistics Properties Trust announced that its Board of Trustees has increased its quarterly cash distribution on its common shares from 5c per share to 10c per share. This distribution will be paid on or about August 13 to ILPT's shareholders of record as of the close of business on July 20.
Industrial Logistics Properties Trust Signs New Leases Totaling 2.7 Million Square Feet
Industrial Logistics Properties Trust announced the execution of two significant new leases, totaling more than 2.7 million square feet across its U.S. mainland and Hawaii portfolios. Together, these leases fully address the two largest vacancies in ILPT's portfolio, both of which were strategic priorities for 2026, and increase ILPT's portfolio occupancy to approximately 98%, as follows: A lease for a 532,364 square foot warehouse and distribution facility located at 9215-9347 E. Pendleton Pike in Indianapolis, Indiana. The approximately 10-year lease commenced on May 1, 2026, returning this high-quality facility to full occupancy after being vacant since August 2024. A long-term ground lease for 2,237,547 square feet at 91-399 Kauhi Street in Kapolei, Hawaii. Commencing on July 1, 2026, the 53-year lease is expected to unlock value from one of the largest parcels in ILPT's valuable Hawaii land portfolio.
ILPT Exceeds Q1 Expectations with Over 60% FFO Growth
CEO Yael Duffy said, "ILPT began the year with exceptional first quarter results, highlighted by earnings growth that exceeded our expectation and strong leasing momentum across our industrial portfolio. Normalized FFO increased more than 60%, and same property Cash Basis NOI grew 4.1%, year over year. Operationally, we leased 862,000 square feet at a weighted average rent roll-up of 26.3%, marking our sixth consecutive quarter of double digit rent growth, and we ended the period with consolidated occupancy of 94.6%. Last week, we successfully priced $1.6 billion of fixed rate, interest only mortgage debt, which we expect to use to refinance the floating rate and amortizing debts of ILPT's consolidated joint venture, strengthening our balance sheet and providing nearly $20 million of annual cash flow. Looking ahead, our priorities remain focused on converting leasing opportunities in our pipeline at attractive mark-to-market spreads, generating organic cash flow growth and continuing to create long term value for our shareholders."
Industrial Logistics Properties Trust Prices $1.62 Billion Financing
Industrial Logistics Properties Trust announced that it has priced $1.62 billion of five-year, interest-only fixed rate mortgage financing for its consolidated joint venture, Mountain Industrial REIT LLC, or Mountain JV, at an interest rate of 5.71%. The financing proceeds are expected to be used to refinance Mountain JV's $1.4 billion of floating rate mortgage debt due in March 2027 and $0.2 billion of fixed rate amortizing mortgage debt. The new financing will be secured by the same 90 industrial properties previously pledged as collateral for the floating rate and amortizing mortgage debt being refinanced. The closing of the financing is expected to occur on or about May 8, 2026. The financing is being led by Wells Fargo Bank, National Association, and is provided together with Citi Real Estate Funding Inc.; Bank of America, N.A.; UBS AG New York Branch; Morgan Stanley Bank, N.A.; Bank of Montreal, represented by Sidley Austin LLP. Skadden, Arps, Slate, Meagher & Flom LLP serves as legal counsel to ILPT in this transaction.
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