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 |