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Arden Realty Reports 1.4% FFO Growth in Q4

LOS ANGELES-The Los Angeles-based office real estate investment trust reports that funds from operations for the entire year were 6.4% higher than 2000. Same property net operating income was up by 5.4%.

By Peter Landau | Updated on February 08, 2002

LOS ANGELES-Arden Realty, a Los Angeles-based office real estate investment trust, reported Funds From Operations (FFO) for the fourth quarter of 2001 of $49.5 million and $198.2 million for the year ended Dec. 31, 2001, compared with FFO of $48.7 million for the fourth quarter of 2000 and $185.1 million for the year ended Dec. 31, 2000.

This represents a 1.4% increase in per share FFO for the fourth quarter of 2001 compared to the fourth quarter of 2000 and a 6.4% increase in FFO per share on a year-to-year basis.

Same property net operating income increased by 3.2% on a cash basis for the fourth quarter of 2001 compared to the fourth quarter of 2000 and 5.4% on a year-to-year basis. Same space rent growth was 20% on a cash basis during the fourth quarter of 2001 and 22% on a cash basis for the year ended Dec. 31, 2001.

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