EX-99.2 3 exhibit992noi1735market.htm EXHIBIT 99.2 Exhibit


Exhibit 99.2

Calculation of 1735 Market Street Net Operating Income (NOI) and 1735 Market Street Cash Basis NOI
(amounts in thousands)

 
Three Months
 
Year
 
Ended
 
Ended
 
December 31, 2018
Calculation of 1735 Market Street NOI and 1735 Market Street Cash Basis NOI:
 
 
 
Rental income
$
6,946

 
$
25,869

Tenant reimbursements and other income
3,391

 
12,510

Operating expenses
(4,414
)
 
(17,086
)
1735 Market Street NOI
$
5,923

 
$
21,293

Straight line rent adjustments
(1,012
)
 
(3,704
)
1735 Market Street Cash Basis NOI
$
4,911

 
$
17,589

 
 
 
 
Reconciliation of 1735 Market Street NOI to 1735 Market Street GAAP Operating Income:
 
 
 
1735 Market Street Cash Basis NOI
$
4,911

 
$
17,589

Straight line rent adjustments
1,012

 
3,704

1735 Market Street NOI
$
5,923

 
$
21,293

Depreciation and amortization
(3,371
)
 
(12,826
)
1735 Market Street Operating Income
$
2,552

 
$
8,467