Development And Lease-upDevelopment completions and lease-up are progressing well, with new projects expected to generate significant yields and boost growth.
NOI GrowthKMP delivered organic NOI growth of 10.3% y/y in Q124, as same property revenues rose 5.9% y/y, given growth in in-place rents of 5.8% and lower rent incentives.
Rent GrowthThe REIT continues to achieve exceptionally strong rent lifts on turnover, while renewal lifts have ticked higher given looser rent controls.