Amy

“Previously, you've discussed full-year blended rents coming in in the mid-2% level, which suggests that blends in the fourth quarter should be a little bit ahead of preliminary October numbers.”

“Given the strengthening rent growth in Northern California, are we getting close to the point where developments start to look more attractive? Or if not, what conditions need to change for development to start looking attractive again?”

“With turnover ticking slightly higher over the last couple quarters, we were wondering if you were seeing any changes in reason for move out that could be driving this, or if it's just normalization off of the very low COVID-era turnover levels.”

“The home builder partnership pipeline has been moderating and cap rates on acquisitions have also been slowly ticking down. So I was wondering how have your relationships with the home builders evolved and what factors are leading to the slower pipeline and potentially maybe a little bit lower growth from this avenue?”

“What gives you confidence that you can redeploy the capital received from the asset sales within the 1031 window, given some of the increased competition that we've been seeing and pretty low cap rates across the Sunbelt?”