located at 9817 Old Statesville Road in Charlotte, North Carolina, which was previously encumbered by the loan, has become an unencumbered asset of the Company.
Also during the 2022 third quarter, INDUS announced that its Board of Directors declared a cash dividend of $0.16 per share of common stock, which will be payable on October 14, 2022 to stockholders of record on September 30, 2022.
INDUS’ existing portfolio in Florida and the Carolinas did not sustain any material damage from Hurricane Ian.
1. Leasing metrics exclude new and renewal leases which have an initial term of twelve months or less, as well as leases for first generation space on properties acquired or developed by INDUS. Leasing metrics also exclude leases tied to properties undergoing redevelopment or repositioning.
2. Portfolio information and statistics are comprised solely of the Company’s industrial/logistics buildings and does not reflect any properties classified in discontinued operations.
3. Stabilized properties reflect buildings that have reached 90% leased or have been in service for at least one year since development completion or acquisition date, whichever is earlier.
4. As of September 30, 2022, the Nashville Portfolio was 42.9% pre-leased. Subsequent to the end of the 2022 third quarter, an additional lease totaling approximately 63,000 square feet was signed, bringing the portfolio to 77.2% pre-leased.
Forward-Looking Statements:
This Press Release includes “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements include INDUS’ beliefs and expectations regarding future events or conditions including, without limitation, statements regarding the completion of acquisitions under agreements, pre-leasing agreements, construction and development plans and timelines, and the expected total development and stabilization costs of developments in INDUS’ pipeline. Although INDUS believes that its plans, intentions and expectations reflected in such forward-looking statements are reasonable, it can give no assurance that such plans, intentions or expectations will be achieved. The projected information disclosed herein is based on assumptions and estimates that, while considered reasonable by INDUS as of the date hereof, are inherently subject to significant business, economic, competitive and regulatory uncertainties and contingencies, many of which are beyond the control of INDUS, and which could cause actual results and events to differ materially from those expressed or implied in the forward-looking statements. Other important factors that could affect the outcome of the events set forth in these statements are described in INDUS’ Securities and Exchange Commission (“SEC”) filings, including the “Business,” “Risk Factors” and “Forward-Looking Statements” sections in INDUS’ Annual Report on Form 10-K for the year ended December 31, 2021, filed with the SEC on March 11, 2022, as updated by other filings with the SEC. INDUS disclaims any obligation to update any forward-looking statements as a result of developments occurring after the date of this press release except as required by law.
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Item 9.01 | Financial Statements and Exhibits. |