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(1) NOI, or net operating income, is a non-GAAP measure. See page 11 of this presentation for a detailed reconciliation schedule of NOI. (2) There were one-time items related to receivership of a six-property triple-net portfolio which impacted NOI in Q4 2017 and Q1 2018.
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A triple net lease agreement is a document used when a tenant (''Lessee'') is paying costs in addition to the rental cost of the property. In a triple net lease, the lessee agrees to pay all costs the property is subject to, including real estate taxes, insurance, and maintenance costs.
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