XML 37 R25.htm IDEA: XBRL DOCUMENT
v3.24.1.1.u2

Agreements and Transactions with Related Parties (Tables) | 3 Months Ended
--- | ---
Mar. 31, 2024
Related Party Transactions [Abstract] |
Schedule of Related Party Transactions | The following tables present a summary of fees we paid and expenses we reimbursed to our Advisor in accordance with the terms of the NLOP Advisory Agreements (in thousands):
| Three Months Ended March 31, 2024 |  |  |  |  |  |
Asset management fees (a) | $ | 1,804 |  |  |  |  |  |  |
Administrative reimbursements (b) | 1,000 |  |  |  |  |  |  |
| $ | 2,804 |  |  |  |  |  |  |
__________ (a)Included within Asset management fees in the consolidated statements of operations. (b)Included within General and administrative expenses in the consolidated statements of operations. The following table presents amounts of shared costs that were allocated to NLOP (in thousands):
| Three Months Ended March 31, 2023 |  |
General and administrative (a) | $ | 3,424 |  |  |
Interest expense (b) | 5,196 |  |  |
Total | $ | 8,620 |  |  |
__________ (a)General and administrative fees are inclusive of expenses such as employee compensation and benefits, stock-based compensation and professional fees. (b)NLOP’s income statement prior to the Spin-Off includes an allocation of interest expense associated with WPC unsecured debt utilized partially to fund property assets of NLOP.
Schedule of Balances Due to and from Related Party | The following table presents a summary of amounts due to affiliates, which are included within Accounts payable, accrued expenses and other liabilities in the consolidated financial statements (in thousands):
| March 31, 2024 |  | December 31, 2023
Asset management fees payable | $ | 595 |  |  | $ | 1,245 |
Administrative reimbursements payable and other | 375 |  |  | 676 |
| $ | 970 |  |  | $ | 1,921 |

X
- Definition Tabular schedule of outstanding balances due to and from related parties. + References No definition available. + Details
Name: | nlop_ScheduleOfBalancesDueToAndFromRelatedPartyTableTextBlock
Namespace Prefix: | nlop_
Data Type: | dtr-types1:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- References No definition available. + Details
Name: | us-gaap_RelatedPartyTransactionsAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of related party transactions. Examples of related party transactions include, but are not limited to, transactions between (a) a parent company and its subsidiary; (b) subsidiaries of a common parent; (c) and entity and its principal owners and (d) affiliates. + References No definition available. + Details
Name: | us-gaap_ScheduleOfRelatedPartyTransactionsTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration