and baseline XXXX we successfully Peter, morning, the which office establishing sector, you, everyone. the growth. AFFO, during pivotal new it future a was year W. foundation sets Carey, exited good Thank for for P. for a
will earnings volume, ended strong through also with of fourth flow in our which quarter full We to XXXX. year benefit investment the the
interest our range, of generate around a X%. of As presents potential and volume dividend tenant believe we growth the total a new and to with we the Carey mid-X% assumptions look uncertainties on with investment on over credit, inflation, the W. compelling around when expect impacts Even of supporting P. yield combined rates year ahead, the conservative investment XX% opportunity. AFFO reflecting we administration in the markets, to return
recent Gordon, and results also investment on CFO, I'll our without transaction and issuing our our tenant to the briefly provide our guidance, Sanzone, to review funding I'll but Toni will also strength take continue Management, Asset ability activity, equity. and of is Head and on focus environment will Brooks morning, remarks here our new my This investments recap balance sheet, update continued of our an credit. questions.
Starting with investments.
we cash of for volume, totaling which half volume quarterly During just our guidance the top brought record over year million, Initial investment into us at on investments the approximately range fall, cap fourth averaged quarter, treasury rates the decline averaged $XXX quarter the $X.X investment closed XX-year Xs, rates to in following billion. low and fourth our year for in the X.X%. during the mid the
up ] very We rent bump and for averaging the [ continue range deals. structures, achieve Xs certain the to into attractive mid-X% in
over returns remained As our the to that were a even yields XXXX, more result, average leases on relative the from providing the earlier cash accumulated rather year for deploying X% when in cost of new attractive than capital investments we and spot life attractive raising returns our of considering above new equity.
Europe. Our our in over XXXX on North being XX and vast leases quarter X with years. volume $XXX X/X investment the in to America, of million majority U.S. was in lease average of the Approximately investments was term ABR added weighted
U.S. primarily While have we into market, remains went retail directed about also also U.S. was largest in done the industrial, proportion and deals of lease Europe and U.S. towards retail. XX% the warehouse net the the meaningful in but past, a segment Retail in
on focus it. retail alternative than U.S. in investments additional view as warehouse an to rather and we to industrial, complementary Importantly, our traditional
the currently debt underappreciated efficiently we competitive by believe our capital priced market. accretively, is access advantage, to Our to enhancing deals fund a ability something remains
source part capital expect bonds, sector, continue long-term U.S. pricing Our the attractive pricing high to currently mix in combined gives debt rates X%. average provides dollar When of structure financing funding than deals, in greater in the lease range. bonds in our and Xs U.S. with of [ yields euro-denominated euro of mid-Xs, interest lease net ] X% and for the us one of the and an the cap rates average lowest we this net with
high a capital operating that of properties, undervalued. variety available sales our assets net lease degree we can which new simplify very cap further the continue potential provide we we the a primarily when On we the of noncore other we inside self-storage of into closing we is with at operating investments. of view These expect us, sources reducing to also investments attractive to noncore side, equity will but us own, priced redeploy meaningfully attractively significantly proceeds confidence would our rates can and portfolio, sell accretive asset equity a time at have assets, also where
to the deal now environment. Turning
markets the direction uncertainties, mentioned outset, administration. I at and including face if and the of down currently of the come early spiked. a impacts XXXX, inflation, of new yields to the has potential range interest XX-year As widen rates, could and XX-year part In of things to although activity, This stabilize. treasury quickly continue potential rates the slow spreads treasury change deal bid-ask
for onshoring The create provide over XXXX nearshoring, may sale or potential opportunities scale in the could and a to portfolio. tailwind medium activity for our M&A or leasebacks, investment also both larger and longer term,
put fourth to we appealing While find quarter to unlikely the as opportunities is the continue active to be first capital work. quarter, as to
we capital we includes million and currently quarter, of most of for $XXX close about scheduled transactions, year. projects this which have to completion this million $XXX over expect Our identified pipeline of
the limited more to on this in have investment our exists the given adopted volume, uncertainty initial environment. the early guidance the cautious year and however, We've approach visibility we over a transaction that
view of we have year confident of Even volume the our end starting that initial year. the without to and we're if above AFFO an guidance range, X.X% even I as per issue share hope want attractive point conservatism, growth for equity. estimated to And having we progresses, with around to top reiterate, expectations. we greater the this can raise we activity, our deal deal fund As clarity on however,
X more to provide Toni represent comprises I X.X% our Hellweg prior assumptions the tenets over an perspective. which Before [ identified on in the True I the credit want on update we've from ABR. of on aggregate, Hearthside focused to tenants call and in we're hand Value, Currently, guidance significant ] detail, to discuss calls, that a
review on a Hellweg should Hearthside [ I'll perspective last from True Value agreed details, to point we've and while but quarter. resolution are a that unchanged uncertainty essentially the versus investors, in prominent remove a credit summary, of for ]
term DoitBest acquisition earnings Since important facility. paint that our facilities during of at they it with The [ We've documentation has Best be of X subject the years, at final to call, properties, manufacturing vacated. completed of current Value comprising of points. which and our [ ] their $XX.X them last sell weighted includes million. and an the We're will will retain agreement rent True average expect for rent X for second on a leases year. its on Duet X negotiated remains existing half lease and ABR of proactively sale and several point June assets marketing X warehouses XXXX, [ ] will remaining Do rents all on ], with them Best through pay to
would AFFO, which we sale, XXXX expect guidance. factored on impact our into is timely minimal their Assuming
It view risk a Do [ it of ] credit no concern. Best as strength the given credit, Lastly, we longer
liquidity, a little pushed debt to costs XXXX. quarter. to on and turnaround situation its manage has Hellweg changed maturities out reduce and last from It current plan remains rent is successfully execute to become operational and continues they team monitoring German its dialogue It as by consumer the available. financials reviewing to face with active spending, management slowdown we're including driven headwinds and meaningful which an continues in closely, Hellweg's
rent potential we some We stores in dispositions, in to of also specific Based that which Hellweg's CapEx. We're would operators have ABR proactively we've rents, the this demand continue incrementally take to contribution the incur a interest year. line to and could disruption. there's for downtime steps several also current our rents risk generally our on reduce confidence other although mitigate from with evaluating received,
Finally, and there's year, list. from it rent bankruptcy evaluate targeting this I'll to change Hearthside, to our we Hearthside over off is results guidance. point, discuss we pause to our disruption. expect hand earlier which on taking our and to at watch emerge credit don't Toni any there view that no it will
