Yael Duffy, President and Chief Operating Officer of ILPT, commented, “During the third quarter, ILPT experienced same property NOI and same property Cash Basis NOI growth of 5.3% and 6.0%, respectively. This growth is primarily the result of strong leasing activity during 2022 and the first half of 2023, which is now being realized in earnings. With a 98.9% leased portfolio, exceptional tenant roster and no near term debt maturities, we continue to evaluate operational synergies and opportunities for continued mark-to-market rent growth.”
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