Strong Financial Performance
Core FFO was $0.60 per share, an 11% increase over the prior year period, driven by solid same-center NOI growth of 4%.
Record Leasing Volume
Achieved record leasing volume with more than 600 transactions totaling 2.9 million square feet over the trailing 12 months, contributing to a quarter-end occupancy of 97.4%, an 80 basis point sequential increase.
All-Time High Sales Productivity
Portfolio reached sales productivity at an all-time high of $475 per square foot.
Strategic Acquisition
Acquired Legends Outlets in Kansas City for $130 million, expected to deliver an 8% return during the first year.
Financial Stability
Strong balance sheet with conservative leverage metrics; net debt to adjusted EBITDA at 5x, expected to be approximately 4.7x post acquisition.
Increased Full Year Guidance
Raised full-year guidance for core FFO per share to $2.28 to $2.32, representing core FFO growth of 7% to 9%.