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  "documentTitle": "Office Properties Income Trust | Investor Conference Presentation Deck | 13 slides",
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  "presentationDate": "2021-06-01 00:00:00",
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      "text": "1. Based on net debt to annualized Adjusted EBITDAre ratio. 2. We define cash contribution as projected NOI minus capital costs over a 5-year period.",
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      "text": "Planned Redevelopment",
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      "text": "2021: Completed $169.8 million of property sales YTD. Included an opportunistic sale of one property for $130M. Acquisition pipeline in excess of $400M. Completed 575K sq. ft. of new and renewal leasing in Q1. Weighted average lease term of 5.4 years with average roll up in rent of 3.2%. Active leasing pipeline with discussions covering 3.1M sq. ft., including 950K+ sq. ft. that could absorb vacant space. Issued $300M of 2.65% unsecured senior notes; expected use of proceeds is to redeem $310M of 5.875% unsecured senior notes.",
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      "text": "2020: Shift to sustainable growth through strategic capital recycling. Completed $110.5M of dispositions at 3.6% cash contribution yield. Opportunity to buy newer, less capital-intensive properties and generate CAD accretion. Completed 2.0M sq. ft. of new and renewal leasing. Weighted average lease term of 7.3 years with average roll up in rent of 6.9%.",
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