Office real estate investment trusts’ funds from operations, a key measure of the sector’s cash flow, continue dropping. Fourth-quarter FFO fell 14.8% year-over-year, the third consecutive decline, according to data provided by the National Association of REITs.
Office REITs see continued weakness
Office REITs’ occupancy was 88.1% in the period, roughly the same as the third quarter. Prior to the pandemic, occupancy was greater than 90%.
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