Same Store Growth definition
Same Store Growth means, for any calendar year, for any marina or other business or entity that is owned by Safe Harbor for all of the preceding calendar year, the NOI growth rate between such calendar year and the preceding calendar year on a comparable reporting basis (applying GAAP as applicable and adopting new FASB pronouncements from time to time, such as ASC 842). For the avoidance of doubt, in determining Same Store NOI Growth, only properties included in the portfolio for the entire preceding calendar year will be included in the pool criteria. For example, a property purchased in June 2020, would be included in the same store pool when measuring 2022 growth, given that it will be owned for full 2021 calendar year to calculate growth in 2022, but would not be included in the same store pool when measuring 2021 growth. For the avoidance of doubt, for the purpose of calculating Same Store Growth, there will not be a charge for budgeted capital expenditures intended to drive NOI growth (“Growth Capex”), but such Growth Capex will be approved by the SH Executive Committee in its sole discretion. • “Acquisitions Performance” means, for any marina or other business or entity that is acquired by Safe Harbor, the actual NOI for the period between the closing of such acquisition and the conclusion of the first full calendar year, divided by the SH Executive Committee approved underwritten NOI for the period between the closing of such acquisition and the conclusion of the first full calendar year. For the avoidance of doubt, after any marina or other business or entity has been owned by Safe Harbor for at least one full calendar year, it will no longer be included in the Acquisitions Performance category and will instead be included in the Same Store Growth category. Further, for bolt-on acquisitions where the financials are combined with an existing marina or other business or entity, it will be assumed that the Acquisitions Performance is equal to 100%, and the bolt-on’s underwritten NOI will be deducted from the most recently completed calendar year’s NOI for purposes of calculating Same Store Growth (to avoid duplication).
Examples of Same Store Growth in a sentence
REPORTS SECOND QUARTER 2006 RESULTS ~ ▇▇▇▇any Achieves Strong 7.3% Front-End Same Store Growth ~ ~ Company Reaffirms Financial Expectations for the Full Year ~ New York, New York, August 8, 2006 - Duane Reade Holdings, Inc.