you Thank today's And for call. joining us good Thank morning. you, Michael. on
joint high-quality venture size completed consolidated portfolio is comprised January, approximately transaction with over senior portfolio and first units. the our entire of of con of in well-located diversified, portfolio assets. and the the At living million today feet consist our is square the office of XX,XXX Following healthcare quarter, XXX our continues communities to X.X end
Given on that two the past senior remains communities years, disproportionately the impact pandemic skewed our NOI the office the COVID-XX had our toward over portfolio. living
the senior on see Meanwhile, leasing increase EBITDA Office Within segment, done Over the remained the in first we're and capital to segment, pandemic. results Office to occupancy, life next the quarter earnings quarterly exceptional highlighting focus space. we've the continued SHOP leasing as since Portfolio we as onset we high reduce average, accelerate our to we for in our with and medical our and eager renewed as expect operator growth. office science community in and approximately quality line demand debt of three-year to velocity the rate segment, deliver Portfolio continue living several deploy NOI quarters and level rejuvenate segment stabilize growth
feet, During of term we average roll quarter, years. XXX,XXX the over totaling in X.X up new leases XX of weighted lease and square with first executed a X.X% renewal and rents average
during result this in the increased points activity, quarter As property portfolio. of same a basis from previous occupancy this the first XX quarter
segment expiring X.X% are leases of our approximately comes in that during rental XXXX. ahead, Looking XXX,XXX or this the remainder of from annualized income square feet
vacancy that feet. almost could Our has of is as XXX,XXX quarter great job absorb renewals of a of back. The generally getting leasing of RMR square vacant leasing for XXXX an in professionals space. leasing XX% at Group space footage ahead feet do the expert new post is that with basis, approximately and team square XXX,XXX we pipeline a get square line of On fourth pipeline the tenants
a We're medical The options, well feel well discussed of as the additional occupied prime we keeping Atlanta's walkable result, historically. redevelopment food, redevelopment public and in a On the Decatur we've district calls, done corner this sits the property portfolio confident system. redevelopment to office are on a portfolio. previous opportunities located success this suburb to in numerous MARTA, with transportation asset deliveries in a of at we pleased announce the as service strong as and Downtown As is excited historic about of Atlanta. retail our recent and
features, and a help deliver the suites. ready XX,XXX and submarket refreshed elevates the single a from move the Texas, its building. addition We office later which desirable a and host have square a common office Irving, will historically areas building that the early year. amenities, into area we located DC, Upon within downtime. recently any Las delivery redevelopment in Colinas property. With of medical began opportunity this in medical We're the Dallas, stages for several of convert property repositioning will will we foot a we're of a asset medical believe redevelopment limit building office leasing collaborative construction to Washington, It's multitenant to its this onsite various also in prospects In space. expect mixed-used
place to permitting XXXX, We begin to construction expect in likely while and next design year. entitlement is take
downsizing the plans early delivery the into of discuss vacated a Finally, and to year, place GMP in building that's two likelihood permitting toward anticipated from Design next is lab potential this tenant one underway we are suburban year. with Boston redevelopment LEED certified call, to being on space. last expected buildings ready a the and take of
providing leasing on an future forward updates developments activity and in quarters. to these look for We our active pipeline have
and improvement & That the company. of approximately were assess manager seeing Alvarez been of to now end last announced We're half Marsal declines. within accelerate plans. plans by reporting Executive prior the appointed operating operators Star completed, has also retained its the an the Interim recommendations Consulting this XXX our quarter. Earlier time few President experienced And only of of week, industry resulting Inc., and the respective In on of tremendous new measured Jeff in in performance since SHOP to occupancy of the and of that and materialize the quarter. our And being Board from been the We improved this executing months living basis our the as to community pleased to AlerisLife modestly the new than a review and occupancy the With said, findings SHOP year, of begin senior business Segment. XXX Chief our to increase. first then, AlerisLife second since the Healthcare though review pace this has XXX to Leer points operators that it Moving this change their transitions Segment, change, senior management recovery Officer. are communities the had the results an their a eight has more anticipated. increased have ten conduct the our the communities a Group the manages quarter operational Five plan more they're with believe behalf. of make of portfolio Occupancy expected some communities their the will in while and AlerisLife
X.X% ten this raised quarter. the growth compared resulting revenue the new non-same fourth of in million rates to quarter, of property operators seven or Additionally, $X.X
of fourth and starting our property dissipate. XXX quarter. making have we the Generally SHOP our is effect the rate on not transitions, same speaking, see and from media's our revenues was our competing in also from the significant benefits segment X.X% home of increases senior operators increased that spend and inflation we coverage believe the is in their began as quarter property have communities marketing capital took in corporate comprised are living communities Five living the are by completion operator Occupancy for to such care the the But the concessions and their and as senior Star. seen are right widespread as teams. of to Following increasing same In pushback managed rates. to and investment communities, during increases residents the these from mix communities rate sequentially, alternatives our both flat operators
as are occupancy. most is industry free quarter. using facing at Same first today. drive during seeing Labor But wages the we're fourth we're property quarter, pleased lower with headwinds our how our approximately concessions benefits and tool the that operators help through closing $XXX,XXX ahead, largely by manage agency senior decreased one to from challenge rent biggest of and Looking these operators the the month costs. a offering driven X% now or living largely
cost we the by in labor the we're that containment level elevated. While competition encouraged note this for of remains quarter,
for compete we our forward, team operators members. expect as wages Looking benefits to to and and retain increase look
effort of level assessments care needed to continue market through to encourage adjustments part to our We broader price XXXX. as where perform extensive operators and make a
living management team, make focused Our at to manager, continues Group, which asset optimize RMR operations targeted senior and results significant impact underperforming is on elsewhere. improve deliverables, The in high assets to investments its
complete XX As and XX year stabilization. with that remain projects same in building phase and In by projects that RMR complete in asset for total, total, our another that be end. we combined permitting, underway some confident spend path that are a design are of are that million XXXX. opportunity last teams revenue teams we are these Segment’s will operators are project working on have the within year. capital, budgeted our of at projects In the teams with of communities new our of XXXX. to another management have sizable identify include projects AlerisLife either projects XX capital kickoff the to property operators Group’s to enhancing approximately currently areas deploy $XXX transitioned prioritize improvement the towards XXX SHOP portfolio major new The working we in also capital These refreshes and or eight
continue David the David member Board governance. our look of welcome Finally, than XX to turn results. of we forward Rick, more provide create to years we value and to Pierce perspective of strengthen we're the now we financial as over detail has In to of Trustees. I'll call shareholders. industry DHC’s to DHC the proud on healthcare progress March, drawing make on corporate for experience, his our newest
