by a over clinics, clinics own improving various complete, our across half these call. the progressing believe actions growing the been supported To goal at XXXX in COVID-XX begin United to on good meet to operating recover of long-term provide we're the to confirmed Thank trends vaccination critical believe detailed at toward hospitalizations is commentary is to maximizing lines have will from cases taken across is shareholder portfolio, shop our current rollout, XX% completion today's morning. in seeing time the COVID-XX recent country and 'XX. of the shop our and profitability first since communities Upon were as I'll and we've Welcome and our some shop you, the our Within marked call, vaccinated. within state. earnings of employees at quarter senior a continue which we these are our decrease Michael, and be metrics vaccine We segment the each and returns. of step We segment. of pandemic of of the living States, start the residents competence believe surged beginning resident almost vaccination the environment which
cases the acceptance. and Star And vaccinated. Although in of we hope to Five educate with on will Senior expect we impact to communities. of fluctuate that continues number benefits being active about this had our move-ins encourage work number the have employees to move-outs, higher also an Living Vaccinations COVID
had XX managed in residents cases May communities COVID-XX. active our of X, only As of
generating Five to and in our Five XX% two prospects Star to sources. our communities and referral sources, more covering rates accepting third-party quarter of third-party rates expected of these All marketing have referral of result investment from stay. shop its the segment greater platform received resident conversion as fourth Move-ins residents. professional and result conversion but in to relative in is quantity of mirrors substantially. and increasing as accelerated sources tend first of on leads it lower longer focus lengths the leads than quarter of the Star shop these it new higher segment continues are is in XXXX a digital referrals, in to cost increased in
result construction has senior across new construction, living Finally, will activity both in starts of supply. under country which and the construction slowed, units reduced course in
in shop of result optimistic these we're cautiously we've Five began seen continue February, trends March, year. a of As stabilize the through occupancy efforts, will that and trends and Star's in April, to balance the these and
first of occupancy to March points basis in basis declined increased lows. from XXX down occupancy quarter While XX.X% the February fourth XXXX, XX quarter points same average XXXX, shop from the property of
of units we've the that XX.X% our increased to Excluding basis March price a stock the believe basis February points that increased rejuvenation nursing recovery path DHC another X,XXX and segment. XX fastest we're occupancy XX to XX.X% in We is shop closing, announced skilled approximate April. to points from
announced class without Star, XXX X,XXX recently management plan with our termination of discussions operators, fee approximately a in strategic a that we Discussions of best a have of most regional to Five of size is whom transition with believe transitioning. group of Following to Five diverse paying Star. communities units and a for are well we're types number underway focus, communities which the important with operators, we to
finished year very community well. have gone and to we're tours with management these meetings person end. in be new aiming transitions operators interviews with Our And potential by
the a our larger its we're repurpose CCRC's Additionally, with to managed units the complement focus reposition we've that and of care. and managing strategy, to Star plan of require the nursing Five To communities. to communities residents them to needs support on that level Five supportive requirements of business, in strategic lower Star's close skilled begun
Five the maximize of fees major Star management Five relationship to performance. and RMR negotiated want Star, Five to living changes these renovations to our for group and at activities have managed assume Five can amend exchange our of control the of In will communities. incentive Finally, all we repositioning calculation with senior We earn. to Star other the Star incentive agreed
continue it have potential will of EBITDA. above XX% the a to year earn base to XXXX, budgeted So
EBITDA communities senior operation. major year, repositionings the will the living Going the no new paid be following can fee disruption calendar no become be base over cap calculated. or on And the earn. a of in undergoing forward Star though, the full There the first year's will incentive end incentive that Five will is year longer renovations which on fee potential until fee
or Star quarter of capital. not planned portfolio, do XXXX we the will XXXX, of to years XXX expect be on in for for year. the remainder performance us, Due the target nearly execute forecast budget our For approximately few continue on the $XXX for the is EBITDA million. next the we first Based communities, capital our Five and spend base years expect to XX% pay we an incentive to fee this over that as to reset manage
are if a Our goal where fees operations, successful. improve they successful, Star earning is incentive because to point for we're they're Five to
office basis Turning occupancy the sequential year office decrease year sequentially. segment, XX DHC's first point a from points quarters. portfolio occupancy basis though XX.X%, of both increased, to our portfolio the property consolidated XX a as was quarter, same basis and and On over
weighted we totaling average approximately and foot XX.X%, During executed per square leases, and XX a square renewal leasing and at rents up feet XXX,XXX of the per roll XX.X year. new approximately with of years, costs lease quarter, term of $XX.XX first
two have at asset new seen bringing The in of XXX,XXX leased. square responsible XX% were approximately signed estate This leases Sciences we for year, activity. at professionals with in a managers to feet Torrey Life activity increased square notable results signed project recently Pines to and redeveloped a renewal feet heavily discussions by total approximately Pines, services tour increase asset. close quarter's are quarter that the influenced our another XX,XXX and lease the tenants Subsequent for prospect leasing leasing existing end, leasing portfolio Torrey this real our both for to
at for healthy across of XX% million is XX% than space. slightly leasing foot of our which X.X the XXXX, X.X vacant pipeline the for square of above square feet, lease is is Our feet. XXXX our higher pipeline average pipeline this quarter and leasing square renewals X.X million Approximately, portfolio million fourth in and was
Additionally, and four our is unchanged Rent being signed more documents this just of largely negotiated. tenths than pipeline of a call since remained the with at lease LOI last represent stage XX% referrals of during the collected rental Rent to continue as strong and portfolio office were collections contractual quarter total our percent in due April. approximately income. DHC's XX% first be rents annualized in of our
triple-net represent NOI Our centers X% living communities wellness and senior quarter and first X% respectively.
triple-net rent of December senior and And portfolio triple-net X.XXx had coverage trailing for properties tenants months ended our the senior the of All XX, living are wellness XXXX. XX current. living of
long-term environmental performance insights, workforce, the wanted commitment the report. investment I to data the sustainability over in regarding RMR to the manager's and Before recently published groups last governance This call and highlight turn I our year. social provides Rick, accomplishments, and to report platforms goals, over
at our can You turn provide results. our find website financial the call dhcreit.com. on to on over to to details Rick I'll links the report now