Yael Duffy

President & Chief Operating Officer, OFFICE PROPERTIES INCOME TR

Search every verified Yael Duffy interview, podcast appearance, and on-the-record quote — each transcript cross-checked by AI and human review to confirm speaker identity. Yael Duffy, President and Chief Operating Officer of Office Properties Income Trust, discussed the company’s second-quarter 2025 financial results and strategic actions during a July 31, 2025 earnings call. Duffy stated that OPI’s annualized revenue had declined to $398 million, down $85 million year-over-year, and that interest expense rose to $53 million in the quarter, up 37% from the prior year. She noted that the company had little room under its debt covenants, which restricted refinancing or issuing new debt, and that nearly $280 million in debt principal payments were due. Duffy also reported that the board had suspended the quarterly dividend to preserve approximately $3 million in annual cash. On leasing and dispositions, Duffy said OPI executed 15 leases totaling 416,000 square feet in the second quarter, with renewals accounting for two-thirds of the activity and rental rates 6.4% higher than prior levels. She indicated that 742,000 square feet of leases scheduled to expire through 2026, representing $11.2 million in annualized revenue, were expected not to renew. Duffy described dispositions as challenging, citing declining property valuations and a limited buyer pool, and noted that one property was sold in July for $2.2 million, with three additional properties under agreement to sell for a combined $28.9 million. She projected cash from operations to be a use of $45–$55 million during the remainder of 2025, including capital expenditures, and said the company continued to evaluate options to address upcoming debt maturities with its financial adviser.