Financial PerformanceInvestment income came in strong, with ARE realizing ~$32.1m of investment gains during the quarter, above estimates.
Leasing ActivityARE executed on 1.3m sq.ft. of leasing activity during the quarter, which is above historical averages, a positive given high supply in the market.
Stock ValuationARE is trading at an approximately 30% discount to NAV, offering a potential total return of around 39% including capital appreciation and yield.