Net Lease Office Properties cuts W. P. Carey administrative reimbursement to $2 million a year from $4 million
NLOP•Administrative reimbursement reduced effective July 1, 2026
Net Lease Office Properties cut its annual base administrative reimbursement to W. P. Carey to $2 million from $4 million, effective July 1, 2026.
Asset management fees paid to W. P. Carey totaled $394,000 for the three months ended June 30, 2026.
Administrative reimbursements to W. P. Carey totaled $1 million for the quarter, included in general and administrative expense of $1.89 million.
The asset management fee was initially set at $7.5 million annually, reduced proportionately as properties are sold.
