Significant Refinancing Program and Asset Sales
The company executed a significant refinancing program and announced the sale of its lending business for an estimated $44 million, yielding $31 million after expenses.
Reduction of Recourse Debt
The company significantly reduced its recourse debt, including the full retirement of a $169 million recourse credit facility.
Strong Leasing Activity
Executed 159,000 square feet of leases in 2025, a 69% increase compared to the same period last year.
Multifamily Segment Growth
Multifamily NOI increased by $600,000 from the prior quarter, with occupancy improvements and a 5.2% rent growth in San Francisco.