Overview

• US commercial real estate owner's Q1 revenue fell sharply yr/yr after property sale

• Net loss for Q1 narrowed compared to a year ago

• Company continues to focus on asset dispositions and capital preservation

Outlook

• Company did not provide specific financial guidance for the current quarter or full year

Result Drivers

• PROPERTY SALE IMPACT - Revenue decline primarily due to prior-year disposition of 1140 Avenue of the Americas

• CAPITAL PRESERVATION - Company continued to prioritize capital preservation, including paying advisory fees with stock instead of cash

Company press release: ID:nBw2xtRB5a

Key Details

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