Strong Occupancy Rates
Portfolio occupancy held steady at a minimum of 95% over the past four quarters, with office assets nearly fully occupied at 97.5%.
Successful Retail Leasing
Retail leasing activity remains robust, with over 85% of spaces vacated by bankrupt tenants already under lease or LOI to higher credit quality tenants at 25% higher rents.
Positive Financial Performance
Normalized FFO attributable to common shareholders was $25.6 million, or $0.25 per diluted share, slightly above expectations for the period.
Dividend Repositioning
Quarterly dividend was reset to $0.14 per share, fully supported by operating property cash flow, providing fiscal flexibility.
Successful New Leases
Executed three new office leases totaling approximately 23,000 square feet and announced marquee new lease with F1 Arcade at The Interlock.