% of SLR derived from Investment Grade Tenants(2)(3)
57%
% of leases with contractual rent increases(4)
80%
Weighted average remaining lease term in years based on square feet as of June 30, 2023.
As used herein, Investment Grade includes both actual investment grade ratings of the tenant or guarantor, if available, or implied investment grade. Implied investment grade may include actual ratings of tenant parent, guarantor parent (regardless of whether or not the parent has guaranteed the tenant’s obligation under the lease) or by using a proprietary Moody’s analytical tool, which generates an implied rating by measuring a company’s probability of default. The term “parent” for these purposes includes any entity, including any governmental entity, owning more than 50% of the voting stock in a tenant. Multi-tenant portfolio includes credit ratings for tenants who occupy 10,000 square feet or more. For Q2’23, calculated as of June 30, 2023, using annualized straight-line rent (“SLR”) converted from local currency into USD as of June 30, 2023 for the in-place lease on the property on a straight-line basis, includes tenant concessions such as free rent, as applicable.Contractual rent increases include fixed percent or actual increases, or country CPI-indexed increases. Percentage of leases with rent increases is based on square feet as of June 30, 2023.