Name | Value |
---|---|
Revenues | 46.0M |
Cost of Revenue | 17.7M |
Gross Profit | 28.2M |
Operating Expense | 17.7M |
Operating I/L | 9.2M |
Other Income/Expense | -8.3M |
Interest Income | 8.3M |
Pretax | -1.2M |
Income Tax Expense | 18.3M |
Net Income/Loss | -19.4M |
City Office REIT, Inc. (NYSE: CIO) is a real estate investment trust that focuses on investing in high-quality office properties in 18-hour cities with strong economic fundamentals, primarily in the Southern and Western United States. The company generates revenue by owning and leasing office complexes comprising 5.8 million square feet of net rentable area (NRA) as of September 30, 2020. Its business model revolves around acquiring, managing, and leasing office spaces to tenants, thereby generating rental income and potentially benefiting from property value appreciation.