Thank Justin and call. everybody welcome our you, joining to
I'd our those by U.S. are has outstanding. safe concern recent customer and Before to proactive affected outreach customers the diving impacted assistance and been hurricanes Thankfully, for in our that our teams like the Europe employees, in, communities. share and and their
with are quarter properties operating such played Our we our storms. financial pleased to expectations. our for results sustained limited the out damage and Overall, as third strong
powerful soft cycle to deliver the through due rent impressive which in demand, and yet continue growth. softened to lease to of patch subdued this our embedded change against us occupancy portfolio, positive effective next of mark-to-market bridges rents the rent While the still backdrop net we
market excluding exit. Ventures and continues. XX.X% the per of expense, quarter share FFO, were included to including promote share, from XXX at net These income promote $X.XX our nearly to share. the of Period the Prologis ahead ], [ our the was net Core was quality forecast $X.XX was ending $X.XX per approximately as quarter. above flight results the occupancy Turning points basis slightly
Net effective to normal captured growth which respectively. rolling XX%. by net The same-store rent Revenues portfolio was XX $XX X.X%, rent We elevated by basis over cash bad NOI effective XX% to leases debt, and change impacted million points. of and was of points from market. of change and up basis were our approximately XX produced X.X% is XX cash
back good space are is the filings news has over of the bankruptcy rise we've on rental that result the had broadly, While XX%. taken as embedded upside a
the mark-to-market $X.X Our overall billion quarter lease portfolio of XX%, finished representing potential at NOI.
we sheet, rate a funds X.X% of raised the balance average the X maturity approximately and new and across weighted $X.X debt Prologis at our billion on Finally, of years. of
In customer development terms capital our includes billion over a bank, our $XX We square now that to over million expanded in of hyperscale in support deployment, driving land new X center opportunity our of development preleased billion, X development incremental now first We data $X.X we had over build-out. potential started which including an development. projects existing with turnkey India a very to active a projects, quarter. feet
started XX% of of systems. energy megawatts costs. in over billion feet deployed third-party at We square we assets million replacement We development strategic discount over $X.X XX to on Year-to-date, have estimated acquired XX acquisitions. an new
by X capacity expect at XXXX. end building end is have XXX to here gigawatt the of well sight have line of of year and the megawatts momentum over -- generation to this to continue Our with we our and goal we good
had investment the Timee. in round exit Japanese early a workforce As solution, successful mentioned, an Prologis Ventures of
our on multiple This Xx produced a IRR. realizing investment, XX% a
supply has and for strategy delivered our and valuable customers. investing venture Prologis Beyond insights the our chain economics,
in which our owns one Finally, shares our successfully a tender capital highest growth leadership for Terrafina, of position best-performing closed now and markets. the in vehicle nearly it of Mexico, XX%, global FIBRA strategic of Prologis, enhancing its
decision-making the many industrial of over source we've But force this pace relationship market. ] few supply a level economic which healthy conditions originally asset to in chain our but despite a to the ultimately, into the this available ability the expansion, of COVID ascribe utilization GDP will operators consumption described remained will to availability output environment, markets. resiliency operating soft earmarked through containment. the [ the as to and rely We Turning reaches growth. is that quarters, last for now is for by And on built and as between the cost and as weaker diminishing absorption vary
we X% are approximately all this through impacting growth, customers to and in roughly excluding capacity making efficiencies In Many end, this it's serving when half others while estimate progress rents market net the that this Globally, gaining California. through reducing decreased amount consolidation. absorption below levels, are rents. quarter pre-COVID Southern hold
to take before, we the California As Southern reach noted equilibrium. longest will
on taking of continued legislation has rents to for the as as recently our led work strengthening carbon simply case between step this in emissions. come the further, decline. positioned lease see investment rent the SoCal through. new on and of quarter, the downturn generated time context, we with it's said, the navigate reduction mark-to-market. effect This improved, that supply has commencements and the SoCal focus in from it structural spot take it amount activity enacted well That cyclical example globe a barriers against into to great portfolio important this interplay to our market remaining While excess even will XX% rent A keep capacity change us
to term. that demand remain as expect picture Houston, process rents very the and bottoming rent LatAm and there always, of As the in course, such on flat Europe, soft remains is near strong. Nashville, remain Overall, underway many markets mixed or Atlanta, positive, Northern are and is a we either
and Looking the the bottom will will market reason affected ahead, path remain low its will for improves and be are supply market still or We have there the utilization as to rents growth near our and It year. are mid global the by positive near-term below are history, their next vacancy hover is sometime very then peak at stands occupancy down business rents significantly outlook falling context on levels. starts deliveries already in as of taken. vacancies pre-COVID and that
from above growth cost even with favorable. the approximately marked XX% land with long-term market, Additionally, replacement X/X trajectory peak, by remains down rents highly values their today's
X% and transaction impressive Mexico markets. U.S. increased grow. X.X%. continue values saw the Moving capital We've on market seen and pricing in to quarter and an and values to again the approximately activity in improved European
million. With bottom most it raising stronger in the capital productive strategic last in, seemingly the our business market years, net its $XXX X a sentiment is than private appears public Overall, the markets. had quarter
XX During compressed points. the quarter, unlevered transaction volumes another basis IRRs increased and
we and cash guidance, at our share, also for of tightening forecast occupancy a to tightening I'll which our range terms forecast In same-store X%. X.X% review growth average to for of a range are to XX% our XX.X% of to
effective in been write-offs and net for year. range at growth tightened we of the increased the has to X%, which higher expect X.X% Our noncash a modestly bankruptcies midpoint reduced from of the same-store balance for the is
$XXX for to G&A our $XXX range slightly strategic and million of revenue to to reducing million million. to and million $XXX a capital $XXX guidance our tightening are range We tightening
are a reflects of $X.XX and in our billion billion stubborn our spec both development demand. deferring new decision-making part guidance We range discipline to slow starts $X.XX build-to-suits reducing on to overall amidst in which development
acquisition strategic as react in warrant we here, our see quickly attractive activity contribution increasing best of up for to billion, conditions are to $X course, a the and development transaction new to to market guidance $X.XX reflecting disposition $X and approximately market the fundraising billion the billion. finally, range is position Of stronger are and in taking pad-ready capital. opportunities to $X.XX billion our the billion of opportunities. And improving We $X increasing forecast with our and range
and to been expense, prior between positive all $X.XX IRRs are per buying Core $X.XX has points. $XXX it it's FFO, selling our our noteworthy a range new guidance. share, range XXX FFO, of will net to share, Putting per promote to The $X.XX GAAP basis but range $X.XX $XXX share, we guidance and earnings $X.XX together, while to highlight our our increasing including per of expense approximately between gain core a million core between spread year-to-date range excludes development excluding million. increase our will from net obviously a FFO $X.XX promote to $X.XX increase and
estate for operating as quarter value which clear will performance, excellence, offerings. in in The our environment. we delivered product change strong that in the on deployment very global high rent on future very positioned our and we same-store the spanning capitalize operational growth across focus demand In and cycles. occupancy, creation to is our had and performance it's real on focused and centricity Alongside that meaningful structural evidenced market to reach a strong high results, challenging all active market are company drive productive we well closing, a logistics continue customer
and day Consistent Smith be innovative and of It the of not annual our amongst It infrastructure. digital Tony Blair, with replay the likes and is our chain was this you to drive London. Sir builds the heard highlight FedEx so forum, held others. our on we Groundbreakers legendary most to of of energy our which upon some deepens event its and website. Fred foundation see our many across customer for many the a clean featured I'd companies excellence, remiss Groundbreakers emerging and the and relationships there from of we thought just of available for in leadership great supply
Hamid call, call responses. I'll in your that, may be and for feeling he's Unfortunately, Operator? operator the under while to on today the his the is limited the With weather back hand he questions.