High Occupancy Rate
Occupancy is at 99.8%, demonstrating strong demand and effective property management.
Re-Leasing Success and Long-Term Visibility
Agreements on new rents for 2025 and 2026 expirations, with attention on 2027, alongside inclusion of 3% annual escalators and 10-year lease terms.
Strong Acquisition Activity
Acquired $16 million in Q1, with a continued acquisition pipeline of $80 million to $90 million for the year.
Financial Performance and Guidance
AFFO guidance on track to achieve $1.20 to $1.22 per share, and strong same-store cash NOI results with forward guidance of 4% to 6% for 2025.
Effective Capital Management
Maintained low leverage with net debt to annualized adjusted EBITDA at 5.2x, and 90% fixed-rate debt.