Company: CIO
Filing Date: 2025-02-20
Form Type: 10-K
Source: 0000950170-25-023714
Chunk: 123

Company: City Office REIT, Inc.
Filing Date: 2025-02-20
Form: 10-K
Item: Item 2
Chunk 123
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, including the amortization of rent escalations and base rent concessions (e.g., free rent abatements) contained in the lease. The square foot result per property is calculated by multiplying (i) Average Effective Rent for the month ended December 31, 2024 by (ii) 12, divided by the occupied square footage in that period.

(2)Annualized gross rent per square foot includes adjustment for estimated expense reimbursements of triple net leases. 

(3)Annualized base rent is calculated by multiplying (i) rental payments (defined as cash rents before abatements) for the month ended December 31, 2024 by (ii) 12.

(4)Annualized base rent per square foot for Block 23 excludes percentage rent leases.

(5)Averages weighted based on the property’s NRA, adjusted for occupancy.

(6)Superior Pointe property was under contract for sale at December 31, 2024.