Strong Leasing Performance
Executed new leases on nearly 200,000 sq. ft. and renewed over 125,000 sq. ft. at positive releasing spreads. Office assets command a 15% premium above competing central business districts, with occupancy at 97%.
Retail Portfolio Success
Retail portfolio achieved 95% occupancy, executing significant new leases with a national grocer and specialty retailer, backfilling spaces previously occupied by Bed Bath & Beyond.
Asset Dispositions and Profit
Sold two non-core, fully stabilized retail assets in the Southeast US for $82 million, representing more than a 20% profit spread over cost.
Multi-Family Expansion
Increased multi-family door count by 37% with an addition of approximately 900 units across four high-quality assets.
FFO and Normalized FFO Growth
Reported normalized FFO of $0.27 per diluted share and FFO of $0.29 per diluted share for Q4 2024, with year-end FFO of $1.02 per diluted share and normalized FFO of $1.29 per diluted share.