Net Operating IncomeThe same-store net operating income growth was only 2.4% year over year this quarter, affected by the bankruptcy of Forever XXI.
Occupancy DeclinePortfolio occupancy was 92.0%, declining by 140 basis points year-over-year and 60 basis points quarter-over-quarter due to Forever 21.
Revenue And CostsUpdating estimates for MAC after speaking with management, resulting in slightly lowering management revenues and increasing management company operating costs trends.