Industrial Logistics Properties Trust announced strong Q4 2020 results, marked by a net income of $0.62 per share and normalized FFO of $0.46 per share. The company reduced leverage by adding a second joint venture investor, expanded its portfolio with the acquisition of a Class A industrial facility in Kansas City, and maintained a high portfolio occupancy of 98.5%.
Net income attributable to common shareholders was $0.62 per diluted share.
Normalized FFO attributable to common shareholders was $0.46 per diluted share.
Portfolio occupancy remained stable at 98.5%.
Added a second third party investor to existing joint venture, substantially reducing leverage.
Industrial real estate fundamentals are expected to remain strong in 2021, with ILPT positioned to pursue opportunities that complement existing industrial assets, drive growth across the portfolio, and create sustainable long-term shareholder value.
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