WashREIT reported a net loss of $5.4 million, or $0.07 per diluted share, primarily due to a loss recognized on the sale of an office asset. However, the company delivered solid second quarter performance driven by strong cash collections despite the challenges presented by the ongoing economic disruption due to COVID-19.
Net loss attributable to controlling interests was $5.4 million, or $0.07 per diluted share.
NAREIT FFO was $31.7 million, or $0.38 per diluted share.
Same-store multifamily NOI increased 0.7% compared to the second quarter of 2019.
Available liquidity of approximately $530 million as of June 30.
Given the uncertainty surrounding the duration and extent of the pandemic and pace and durability of the recovery, it is difficult to predict, with a reasonable degree of accuracy, the impact on the Company's ability to collect rental revenue for the remainder of 2020. As such, the Company is not reinstating 2020 Guidance at this time.
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