Strong Same-Store NOI Growth
Same-store NOI growth averaged 5.25% over the last two quarters, with a third-quarter growth of 5.4%.
Increased Occupancy Rates
Same-store occupancy increased by 180 basis points over the last two quarters, reaching 91.1%.
Improved Leverage
Net debt to adjusted EBITDA reduced by 0.5 turns, now below 6x, with a 5.8x ratio reported for the third quarter.
Successful Leasing Activity
Leasing activity included 1.6 million square feet of executed leases, with tenant retention reaching nearly 89%, the highest in six years.
Capital to Invest
For the first time in years, Healthcare Realty has capital available to invest accretively into the portfolio.
Pipeline of Dispositions
Year-to-date, $500 million of assets sold, with $700 million more under contract or LOI, expected to close soon.
Development and Redevelopment Progress
Active development projects in Fort Worth and Raleigh are progressing well, with stabilized NOI expected to be approximately $8 million.