Good and XXXX our third Kyle. you, to afternoon, quarter welcome call. earnings Thank
me Officer; Operating of company's are and Vice Brandon and Tiffany Finance. Joining Ribar, President the Senior Accounting our Chief today Dutton,
Senior The the third as announced rights which XXXX pivotal equity. investment was $XXX.X a the a quarter million was for $XXX.X of of common Conversant for to million with raise, Living. offering, strategic proposed along We company, from Capital guaranteed Capital time
enhance with from debt the competitive a fund near-term X, on which strength. transactions, have significantly our position pandemic-related recovery now our we strong our and and address maturities our strengthened proceeds closed and position in the company's With assets are these and further to liquidity November in flexibility to invest to
XXXX maturing December our $XX.X million full from In December maturing loan July investment our to in the extended recourse August, XX now on XXXX. heels of announcement, of of bridge we in
$XX.X maturing refinancing this morning uses December The full a continue lenders XX. the on mortgage the partial the Pages details as filings. amended SEC transactions, released our and full our in recourse in XX investor XX be issued maturities. of million also to expected regarding debt as the funds of forma repayment and on recent XXXX Discussions with notice our XXXX structure can presentation of pro of on investment capital found We well debt
and our continuing I want to thank their care process. engagement thank their residents families especially support, And employees, their patience trust this want and and I our us to with most for and family during of to shareholders well-being precious the members. for vendors
long also company will itself as We from and It means which November with of will perfectly the life. Sonata, Senior a The Vida, under derived words our which communities, Sonida parts; piece of and effective Sonida music SNDA. Living that of appropriately recently announced ticker the the which the means describes XX, Monday, filled several trade comprised symbol life. and name music rebrand are
is Living of build higher positive corporate lives reference us that with important and earned score company-wide our represents overall our residents. now believe well-being communities the and end is reputation XXX, changing, XXXX have their in unchanged, name our While continue upon community XXX will our remain XXX at allowing to of points markets. from to the name local reputation better our up Today, communities our When our we communities significantly and industry Senior of relationship Find the their the in Here, organization, average Sonida our than is play Joy tagline, Your XXX. role our the
our by Lastly, managed X adding Ventas-owned are our portfolio with we that we X. Ventas effective announced relationship December expanding additional to assets
stabilized outpaced which industry growth basis. our that pandemic increased in points sequential third sequentially XX.X% results. this pleased points quarter net senior from the occupancy to growth showed compares We're XXX period. QX Occupancy throughout on recovery housing QX. basis occupancy, This our XXX has of occupancy quarter third to the from basis to in Turning industry XX% a
tours strong residents and abilities and stores levels sales teams into communities. marketing and XXXX. move-ins insightful our their highest at community demonstrated bring since are generate new their conduct have Our to Lead leads,
from of was basis occupancy increase XXX low in occupancy an XX.X%, points pandemic the average monthly XX.X% October of February.
month indicator continued have than our greater. more occupancy Today, spot good and XX% of of October was of XX% a XX.X% momentum. and Our or communities occupancy
our Combining or rate resident from year. the revenue quarter with growth second the occupancy sequentially third increased $X.X improvement, quarter for this million consolidated X% of
in was revenue sequential owned For our second growth communities, quarter and resident was over XX year third to from the the X.X% X%. growth quarterly resident XXXX quarter same revenue prior
$XX average Our in on sequentially and par with year. X.X% the rate or increased quarter the is prior average the third rate of
is in competitive some use required operating labor labor our of expensive to the current intensely With the communities. contract and of has expenses, market overtime respect and
each for month In and are caring efforts have since as also the activities, mitigation our levels retention resident to adjusted while family more of decrease working local our steadily maintaining July. with number terminations addition #X have teams residents and intensifying priority flexibility model to These staffing of for talented satisfaction. our our our of employee high employees recruitment, provide we onboarding seen
be We return expect recovery adjust to to the people challenges these labor pandemic to and employment. U.S. the transitional as and temporary
while working inflationary We teams operating current for communities the labor in operating Net in We're to commend margin in hard expansion satisfied maintain level the the this through and pressures this compared was subside. and when XX.X% of operating with second our margin talented the for challenges third see margin not managing quarter margins operating to year. of to of our XX% the quarter XX local owned environment. expect economy the
Our of teams incremental to in QX delivered QX. NOI $XXX,XXX compared
used incentives this year, our QX the by to Those Our second in immediately expenses. elevated move-ins incentives, pandemic recovery. and which been drive of while managing has improve temporary quarter early in to operating circumstances burned have to the utilizing of occupancy were the part was off, recovery strategy the of focus rate encourage improvement and short-term quickly
operations, this we point has team that put pleased rewarding, to reflect say journey has and liquidity. the do. nearly on our of completed in of set and and ability We our exited I place challenges improved We reduce I'm and improve plan to stabilized expensive XXXX. pandemic execute provide of both underperforming care residents, we to everything final the weeks cash of we we and negative February with leases our challenging been and enhanced experiences to global a out divested to enter spite our excellence As The the lingering assets X-year the flow in XXXX, and engagement in we to its impact.
We Importantly, period issues pandemic invest of we the subside. we inflationary on assets demonstrated the this and now that capitalized sheet the future. to other and can forward to when and transitionary balance in grow labor have being organically, recovery foreseeable of are for look side the pressures our stabilize we
We the believe industry and in for more prospects Senior the Living. specifically promising in growth Sonida future of this future
improvement and financial that excited end, about the long-term recent guidance occupancy and delivered enhanced we've encouraging to along liquidity our we company. to for the for months, prospects To newly profitability in with capital that structure growth intend With XXXX. we're extremely rate our position, providing and return
call I'll into to over our more insight operations. Brandon now for turn the
