Strong Leasing Activity
Commenced nearly 1.5 million square feet of new and renewal leases with a solid pipeline of over 630,000 square feet, indicating robust demand for outpatient medical space.
Positive Financial Performance
Normalized FFO per share was $0.39 for the quarter, in line with expectations. Same-store cash NOI growth was 2.3%, with expectations for material acceleration in the remainder of the year.
Successful Dispositions
Sold four buildings for $28 million and received full payoff of an outstanding loan for $38 million, reflecting strong execution by the team.
High-Quality Portfolio
The portfolio is focused on high growth markets including Dallas, Seattle, Nashville, Houston, and Denver, with a tenant roster comprising market-leading health systems.
Increased Health System Leasing
Health system leasing as a percentage of new signed lease activity has nearly doubled over the past five quarters, showcasing strong demand from health partners.