Jim Sebra

“I'll start with a brief update on our integration with CenterSpace. While we are still in the early stages, the overall process is on schedule. Lender consents for the assumption of approximately $500 million of CenterSpace's secure debt, with an average interest rate of approximately 3.5%, are progressing as planned.”

“I'm going to go over the structure and consideration of this transaction, the earnings impact and synergies, the balance sheet, and lastly, the growth upside beyond the near-term synergies.”

“Core FFO per share for the second quarter of $0.28 was ahead of our internal expectation, driven by stronger-than-expected same-stranded line growth of 1.2% that outpaced the 80 basis point midpoint of our original guidance range for this year.”

“So, you know, you asked a question about renewal growth and what we're sending renewals out in the future. Obviously, April is done. May is almost done. You know, we're right in the kind of the low 4% range for those two months.”

“Four FFO per share during the fourth quarter in the full year of 2025 of $0.32 and $1.17 respectively were in line with our guidance. Same-store NOI grew 1.8% in the quarter, driven by a 2% increase in same-store revenue and a 2.4% increase in operating expenses over the prior year.”