City Office REIT Inc Q3 2024 Earnings Call Transcript - Thomson StreetEvents

City Office REIT Inc Q3 2024 Earnings Call Transcript

City Office REIT Inc Q3 2024 Earnings Call Transcript - Thomson StreetEvents
City Office REIT Inc Q3 2024 Earnings Call Transcript
Published Oct 31, 2024
8 pages (4025 words) — Published Oct 31, 2024
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Abstract:

Edited Transcript of CIO.N earnings conference call or presentation 31-Oct-24 3:00pm GMT

  
Brief Excerpt:

...Operator Good morning and welcome to the City Office REIT Inc Third Quarter, 2024 Earnings Conference Call. (Operator Instructions) This conference call is being recorded. (Operator Instructions) It is now my pleasure to introduce you to Tony Maretic, the company's Chief Financial Officer, Treasurer and Corporate secretary. Thank you, Mr. Maretic. You may begin. Anthony Maretic ...

  
Report Type:

Transcript

Source:
Company:
City Office REIT Inc
Ticker
CIO.N
Time
3:00pm GMT
Format:
PDF Adobe Acrobat
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The following is excerpted from the question-and-answer section of the transcript.

(Questions from industry analysts are provided in full, but answers are omitted - download the transcript to see the full question-and-answer session)

Question: Upal Rana - KeyBanc Capital Markets Inc - Analyst : Great. Thank you. Good morning out there. Jamie, could you walk us through? How the renewal would we work at Block 83 games to fruition? And do you have any plans or expectations after the lease expires in 2026.


Question: Upal Rana - KeyBanc Capital Markets Inc - Analyst : Okay, great. And then regarding occupancy, what are some of the moving pieces that get you to that 85.5% midpoint of your guidance? And, and I know I'm sure we work is, is a big driver of that, but is there anything else there that's included in your assumption?


Question: Upal Rana - KeyBanc Capital Markets Inc - Analyst : Okay, great. That was helpful. And then last one for me, you know, you mentioned on a prior call that you started to see interest from relatively larger tenants, is that still the case or what sort of tenant demographics are you seeing in regards to leasing demand today?


Question: Barry Oxford - Colliers Securities - Analyst : Great. Thanks guys. Jamie, when you're looking and signing leases, what are you seeing today? Like maybe versus a year ago when it comes to concessions and free rent? Are you having to kind of give more to get deals done or are you holding the line and actually doing better?


Question: Barry Oxford - Colliers Securities - Analyst : Okay, great, great. And then tell me, I know you don't have a lot of expirations, but as, as you work into 25 and the later half of 25. Do you anticipate the banks giving you a lot of pushback on refinancing or? Look, I'm in conversations with them Barry and right now I don't think we're going to have difficulty.


Question: Barry Oxford - Colliers Securities - Analyst : Great. Thanks for the color guys.


Question: Craig Kucera - Lucid Capital Markets - Analyst : Yeah. Hey, good morning guys. It looks like the bulk of occupancy games are occurring here in the fourth quarter. Can you give us some color on when the remaining called 100 to 150 basis points are expected to take occupancy and start paying rent in 25.


Question: Craig Kucera - Lucid Capital Markets - Analyst : Okay, great. You're changing gears. I'd like to talk about the city center redevelopment. How, how would city office monetize that? I mean, you know, most likely, I would think maybe a sale to the developer might make sense or, but could it be a ground lease or maybe some sort of revenue sharing agreement? Any color that would be appreciated?


Question: Craig Kucera - Lucid Capital Markets - Analyst : Got it, Okay. And, and just one more for me, you know, looking at 2025 debt maturity, I I know they're all in the fourth quarter of next year. But you know, are you giving some thought to how you anticipate handling them after using a lot of liquidity here in the third quarter with a line of credit? You know, maybe exploring using Block 83 as a source of liquidity or other sources.


Question: Craig Kucera - Lucid Capital Markets - Analyst : Okay, great. Appreciate the coming guys. Thanks.

Table Of Contents

City Office REIT Inc Q1 2025 Earnings Call Transcript – 2025-05-02 – US$ 106.00 – Edited Transcript of CIO.N earnings conference call or presentation 2-May-25 3:00pm GMT

City Office REIT Inc Q4 2024 Earnings Call Transcript – 2025-02-20 – US$ 54.00 – Edited Transcript of CIO.N earnings conference call or presentation 20-Feb-25 4:00pm GMT

City Office REIT Inc Q2 2024 Earnings Call Transcript – 2024-08-01 – US$ 54.00 – Edited Transcript of CIO.N earnings conference call or presentation 1-Aug-24 3:00pm GMT

City Office REIT Inc Q2 2023 Earnings Call Transcript – 2023-08-03 – US$ 54.00 – Edited Transcript of CIO.N earnings conference call or presentation 3-Aug-23 3:00pm GMT

City Office REIT Inc Q1 2023 Earnings Call Transcript – 2023-05-05 – US$ 54.00 – Edited Transcript of CIO.N earnings conference call or presentation 5-May-23 3:00pm GMT

City Office REIT Inc Q4 2022 Earnings Call Transcript – 2023-02-23 – US$ 54.00 – Edited Transcript of CIO.N earnings conference call or presentation 23-Feb-23 4:00pm GMT

City Office REIT Inc Q3 2022 Earnings Call Transcript – 2022-11-07 – US$ 54.00 – Edited Transcript of CIO.N earnings conference call or presentation 7-Nov-22 4:00pm GMT

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Thomson StreetEvents. "City Office REIT Inc Q3 2024 Earnings Call Transcript" Oct 31, 2024. Alacra Store. May 06, 2025. <http://www.alacrastore.com/thomson-streetevents-transcripts/Q3-2024-City-Office-REIT-Inc-Earnings-Call-T16140463>
  
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Thomson StreetEvents. (2024). City Office REIT Inc Q3 2024 Earnings Call Transcript Oct 31, 2024. New York, NY: Alacra Store. Retrieved May 06, 2025 from <http://www.alacrastore.com/thomson-streetevents-transcripts/Q3-2024-City-Office-REIT-Inc-Earnings-Call-T16140463>
  
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