Record Net Cash Proceeds
Generated $852 million in net cash proceeds from homesite sales, including $766 million from Lennar.
Expansion of Homebuilder Relationships
Partnered with 12 distinct counterparties, indicating broad-based market demand and scalability.
Strong Financial Position
Completed $2 billion in senior note offerings and maintained a conservative debt-to-capitalization ratio of 25%.
Increased Dividend Yield
Increased quarterly dividend to $0.73 per share, representing an 8.2% dividend yield.
Guidance Increase
Raised guidance for year-end AFFO run rate to $0.74 to $0.76 per share and increased full-year 2025 new transaction funding target to $2.2 billion.
Proprietary Technology Platform
Highlighted the strategic advantages of the proprietary technology platform in managing nearly 140,000 homesites.