Strong FFO Growth
Year-to-date, FFO per unit has grown by 6.9%, reflecting operational excellence and portfolio optimization.
High Occupancy and Increased Rent
Annual minimum rent per square foot increased by 3% to $18.02, driven by over 200,000 square feet of new leases.
Successful Property Transactions
Acquired a freestanding grocery site and a land parcel, and sold two underperforming assets, positively impacting economic occupancy by 30 basis points.
Strong Balance Sheet
Ended the quarter with available liquidity of $677 million and a debt-to-EBITDA ratio of 7.72x.
Robust Debt Management
Issued $300 million of senior unsecured notes with an interest rate of 4.73%, maintaining a 58% unsecured to 42% secured debt mix.