Company: RITM-PC
Filing Date: 2025-08-01
Form Type: 10-Q
Source: 0001556593-25-000024
Chunk: 104

Company: Rithm Capital Corp.
Filing Date: 2025-08-01
Form: 10-Q
Item: Item 1
Chunk 104
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reciation expense for the three months ended June 30, 2025 and 2024 totaled $7.3 million and $7.3 million, respectively, and $14.7 million and $15.0 million for the six months ended June 30, 2025 and 2024, respectively. Depreciation expense is included in general and administrative in the consolidated statements of operations.As of June 30, 2025 and December 31, 2024, the carrying amount of the SFR properties includes capitalized acquisition costs of $6.9 million and $7.0 million, respectively.The following table summarizes the activity for the period related to the net carrying value of investments in SFR properties:SFR Properties HFISFR Properties HFSTotalBalance at December 31, 2024$989,002 $39,293 $1,028,295 Acquisitions and capital improvements9,218 — 9,218 Transfers to (from) HFS/HFI10,864 (10,864)— Dispositions— (20,537)(20,537)Depreciation expense(14,715)— (14,715)Balance at June 30, 2025$994,369 $7,892 $1,002,261 Rithm Capital generally rents its SFR properties under non-cancelable lease agreements with a term of one to two years. 

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RITHM CAPITAL CORP. AND SUBSIDIARIESNOTES TO CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED)(dollars in tables in thousands, except share and per share data)

The following table summarizes rental revenue and other variable revenue included in other revenues and other income (loss), net, respectively, on the consolidated statements of operations based on the specific lease terms for the period:Three Months Ended June 30,Six Months Ended June 30,2025202420252024Rental revenue$19,492 $18,920 $38,895 $37,869 Other variable revenue2,555 1,066 4,885 1,659 Total Revenue$22,047 $19,986 $43,780 $39,528 The following table summarizes the future minimum rental revenues under existing leases on SFR properties:2026$30,432 2027 and thereafter25,227 Total$55,659 The following table summarizes the activity for the