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XAEIU (XAEIU) has submitted its 10-K filing for the fiscal year ended December 31, 2024.
The filing details the company's financial performance, including rental income of $440,126 for 2024, down from $547,015 in 2023. The decrease was attributed to a property vacancy beginning in November 2023, which was later sold in December 2024.
Operating expenses for 2024 totaled $462,366, compared to $500,861 in 2023. The reduction in expenses was primarily due to a decrease in partnership administration costs.
The company reported a net income of $16,521 for 2024, compared to $51,795 in 2023. The decrease in net income was primarily due to lower rental income.
During 2024, XAEIU sold one property, receiving net sale proceeds of $661,301 and recording a net gain of $32,817.
Distributions declared to partners amounted to $276,879 in 2024, compared to $421,555 in 2023. The distributions were allocated 97% to Limited Partners and 3% to General Partners.
As of December 31, 2024, XAEIU owned interests in three properties with a total cost of $7,041,532. All properties were fully occupied at year-end.
The company's cash balance increased to $914,846 at the end of 2024, primarily due to the proceeds from the property sale.
XAEIU's investment strategy focuses on acquiring commercial properties with the potential for regular cash distributions and growth in lease income through rent escalation provisions.
Management believes inflation has not significantly affected income from operations, although it acknowledges potential impacts on tenants' operating margins.
The filing also notes that the partnership has no material off-balance sheet arrangements as of December 31, 2024.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the XAEIU annual 10-K report dated March 28, 2025. To report an error, please email earnings@qz.com.