John Poloski

“My first is a follow-up on the Apollo JV. Dave, can you give us a sense for what percentage of the property cash flow actually flows to Apollo versus UDR in the first few years of the agreement and then how it might step up in subsequent years?”

“Are those business lines and the contribution earnings trending better or worse than you expected? and any color the drivers would be appreciated?”

“My first question is on the operator transition of the assets held in the Sovereign Wealth JV. Do you expect occupancy declines in the near term as the new operators take over, and how long do you expect for the properties to reach more of a stabilized market type of occupancy level?”

“Calvin, could you spend a few minutes talking through the West Cambridge development? I don't have a good sense of what the total construction costs might be over time, what percentage of it's going to come through Health Peak's balance sheet timeline.”

“Maybe just a follow-on question to that conversation topic. Austin, the 2026 maturities, $1.2 billion rolling in 2026. I think a lot of it's clustered around the middle of the year.”