Strong Office Leasing Activity
Achieved 1.2 million square feet of office leases signed year-to-date, on pace for the strongest office leasing year since 2019. Improved occupancy across major markets except for Seattle.
Financial Liquidity and Debt Management
Successfully raised over $690 million through a common equity offering, resulting in over $1 billion of liquidity. Repaid all private placement notes totaling $465 million, improving maturity profile.
Studio Segment Improvement
Studio occupancy improved with pilot shoot days up 11% year-to-date and 48% on a trailing 12-month basis. Studio NOI improved by $5.4 million quarter-over-quarter.
Tech Sector Growth
Tech and AI leasing in San Francisco led to the largest quarter occupancy increase in 7 years. Silicon Valley saw over 1 million square feet of positive net absorption driven by tech sector demand.