Development Pipeline And Balance SheetAn active development pipeline across industrial and retail properties, supported by a very strong balance sheet, underpins growth prospects and supports a valuation premium.
Leasing And Rent GrowthStrong leasing performance produced high tenant retention and new leases signed at rents above in-place averages, driving healthy leasing spreads and supporting same-property net operating income.
Portfolio RepositioningDisciplined capital recycling and strategic joint ventures reduced exposure to lower-performing office assets and shifted the portfolio toward higher-growth retail and industrial properties, improving long-term earnings potential.