Peakstone Realty Trust reported a revenue of $61.7 million for Q3 2023. The company experienced a net loss of $(139.9) million, primarily due to a non-cash impairment of the office joint venture interest. Despite the net loss, the company is focused on deleveraging its balance sheet and has increased liquidity to over half a billion dollars.
Revenue was approximately $61.7 million.
Net loss was approximately $(139.9) million, impacted by a non-cash impairment of the office joint venture interest.
Adjusted Funds from Operation (AFFO) was $0.78 per basic and diluted share/unit.
Same Store Cash Net Operating Income increased to approximately $48.1 million.
Peakstone Realty Trust is focused on executing its business plan and reducing leverage to achieve an investment-grade balance sheet despite the challenging macroeconomic environment.
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