ILPT reported Q4 2025 rental income of USD 113.91 million and a net loss attributable to common shareholders of USD 1.78 million (USD 0.03 per diluted share). Normalized FFO attributable to common shareholders was USD 18.88 million (USD 0.29 per diluted share), while Adjusted EBITDAre was USD 85.06 million. Same property NOI rose 4.9% in Q4 2025 to USD 88.2 million and same property Cash Basis NOI increased 5.2% to USD 85.7 million. For FY 2025, ILPT posted rental income of USD 448.85 million and a net loss attributable to common shareholders of USD 66.19 million (USD 1.00 per share). ILPT ended Q4 with USD 94.81 million of cash and cash equivalents, total debt (principal balance) of USD 4.21 billion, and net debt of USD 4.03 billion. On the business side, ILPT executed about 3.99 million square feet of leasing in Q4 2025 at weighted average rental rates 25.7% higher than prior rates for the same space, with a weighted average lease term of 9.5 years, and ended the quarter 94.5% leased. The company sold two unencumbered vacant properties for USD 3.90 million in aggregate (since January 1, 2025) and declared a quarterly cash distribution of USD 0.05 per share (declared January 15, 2026; payable on or about February 19, 2026). Management said Normalized FFO grew 113% in Q4 2025 year over year and noted a “robust leasing pipeline” entering 2026.

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