Revenue Decline TrendA multi-year revenue decline erodes the top line that funds operations, maintenance and development. Persisting revenue weakness can reduce reinvestment capacity, compress margins over time, and limit ability to cover rising fixed costs in commercial property portfolios.
Negative Free Cash FlowNegative free cash flow means capital expenditures or development outlays exceed operating cash generation. Over months this can force reliance on financing, slow asset turnover, or constrain distributions, weakening long-term growth and increasing financing vulnerability.
Rising Total Debt To MonitorA rising debt load, even slight, heightens leverage risk particularly if revenue is falling and free cash flow is negative. Continued increases would reduce flexibility, raise interest costs, and could limit ability to pursue opportunistic acquisitions or renovations.