Mike. Thank you,
cannot I all that foremost, with be XXXX. have accomplished far thus happier in and we First
and drive upgrade rent. to We continue tenancy
challenging in with will and Most All our the further make completing We the rearview times that goals have made completed share virtually it decisions, market, our and our plan increasingly balance. continue the to mirror. recycling we fortress-like in buybacks to our tremendous on disposition fine importantly strategic we right delevering progress an will plan items. our allocation capital have the few X.X It capital effectively place end heavy-lifting tuning years. with remain in
positioned been focused for prepare in platform and we in are the through leasing As can we operating approach years the spotlight own that making going are to Once creation value has of down approximately redevelopment, a XXX to properties portfolio our entire our organization is under ongoing real where LOI, the unique prove five poised platform. locally XXX% dedicated as our mixed-use well put almost we focused XXXX, and become the on remaining first close over XXX in the to from we or we XXXX. organic value will assets It remerchandising. contract, as and estate
income be approaching ABR square and XXX,XXX population approximately be Our foot respectively. XXX,XXX $XX, and three will our mile household average will while per
approaching is XX% our our will reside value several location. as properties asset plan densify super-zip medium-term. to exposure we of the to or of estate the in XX% and experiential real over and Nearly ABR Our a density-driven growing of
with the mark market driven portfolio over portfolio tireless numerous in significant is to growth, embedded density Our a that resulted efforts years strong high income densification recycling and opportunities. concentrated quality last several rent have geographically
times. side, balance EBITDA our On at stands adjusted the to debt sheet net X.X
in million December, $XXX We preferred preferred from capital equity redeeming our removing X% our equity all stack. be will
assets. flexibility remaining and to allowing our Our us unencumbered only NOI XX XX% operate loans ratio sits have we maximum at secured
through $XXX is or maturing approximately XXXX. than less and of XX% undrawn million profile in $XXX with liquidity capacity million Our robust debt nearly debt
very opportunistic be Our us balance sheet sets moving the forward. to for stage
have we been more never focused. ahead, Looking
We new the retail and a paradigm. improved that have with portfolio aligned concentrated well is vastly
growth poised have nimble sheet balance opportunities. and flexible a very We for
that have We continue evolution strategy long-term value winning our for a with deliver will as shareholders. we
commentary, on like I'd our to share my Before opposition. I thoughts CFO my briefly open move to CFO
of to Heath know, Fear As resigned you return most GGP. to September in
While Heath of we at is with talent have are missed, we pleased here the very RPAI. depth
have and a not We not miss will beat.
Officer, Given the of experience it us along affords capital Julie markets take to balance the opportunity steady the Chief likely our investor to are pristine hand we relations candidate our which role, in as time as for in the fill condition of well with best the thoughtfully sheet and depth of the Fitzmaurice’s our Mike Accounting to evaluate Swinehart, XXXX.
days results, Before quarter. of are I damage for employees during minimal each a nearly seen tenants our like happy the to company third Florida responding our I'm to within and operating hurricanes in that take event. our and of the their report to have employees dedication Houston to would turn properties our and our I our to our moment tenants open safe; and to thank were in all
from properties initiatives. combination the one penalties, strong points during impact a recycling in separation of reduced count due basis G&A debt primarily expense, in deductibles, quarter income partially from recovery capital share of property the and third interest basis lower prepayment outlook in spreads share was I terms impact was the XX growth of of remainder expenses rent of by the the other increase of income by compared for of lower XX $X.XX period bad for to rental basis points of of higher XXX $X.XX from investment which results repurchases have releasing change result, net income, and decrease Operating our from stock we to and and contractual of driven NOI In and tenant expense a same driven offset points. quarter will was This discuss by executive to FFO quarter primarily on common $X.XX now penny property the XXXX. $XX,XXX. level X% $X.XX net totaled Same-store per incurred the due $X.XX our attributable third net $X.XX expense related our per XXXX. share of NOI third the to by offset other
recognized $XX also Shane to value was sale, this charge let the hold details charge related with estimated share to asset. the the change combined the We but quarter the million the to related Schaumburg estimate the fair directly contemplated Towers. I’ll on of period of and impairment change of and during
to stock operating G&A separation count share a from raising and Turning to than FFO to executive expenses $X.X the the $X.X our primarily guidance, at due impact $X.X midpoint to we reduce anticipated lower by of guidance net repurchases. resulting from are
end the our NOI in of range a third of growth low to as the bad raising in a expense the assumption same-store result X.XX% resulting than are debt of we expected Additionally, primarily new quarter. X.XX% lower
only note from impact are and which provide direct announced bankruptcies XXXX. in same-store the continue debt any fourth quarter any bankruptcies of department in the detail last I Payless, To have XX have XX fourth indirect we last same-store additional encounter locations expect into difficulties. quarter that are factored Gymboree of some Rue nine and leases which due were assumption to expense XX NOI well this NOI additional do was quarter. and regarding to remaining we We exposure do of you to stores, to not primarily outsized accelerate sold bad that time. XXXX or revenues happy as the expect expect been to of tenant at dominate call with pleased Three and in our XX not growth leases our properties material assumed to we am have the at growth and report rejected, why negligible higher the impact, the as We as headlines
we result, no a these expect bankruptcies. disruption As from further
quarter same-store growth a that assumption, bad of full NOI. X%, risks, points important same-store our which equates of of to cover unforeseen to reserve XX any same-store XX current revenues it's or basis However, debt XXX,XXX we maintaining NOI midpoint the approximately note for points of year basis assumption to the are fourth
additional of and current leases approximately Toys of rent in they we charges. XXXX, 'R' To basis date are risks nine have in additional terms points all ABR. do Us representing XX In
However debt noted by were be in approximately November in detract all I event, will XXX,XXX earlier. the locations bad covered which today closures closed would Xst. the assumption These unlikely XXXX,
As XXXX, threefold. it's same-store our about in think NOI growth we
locations, continued expect releasing expect we on in we First, anchor will vacant which provide progress a XXXX. tailwind
developments in totaling expansions Second, XX,XXX and one an of XXXX delivered the pad feet, three completed was quarter. we during square incremental have which
of return on We expect an approximately these NOI XX.X%. a cost projects an result average incremental weighted of annualized in with will benefit XXX,XXX
return $X.X of In addition, benefit XXXX, which of during with redevelopment a approximately expect annualized average we in Reisterstown weighted the the million result fourth delivering cost in incremental NOI an we XX%. quarter on of will on anticipate
in XXXX, smaller expect and magnified have two move and volume velocity property I will result NOI denominator. now Lastly, turn will RPAI progress will level which our needle XXXX, will two, our management our ability call in with be the to impact meaningfully to savings expenses; and our as given share in we And the that, growth percentage same-store we One, smaller be during over a of of to Shane. disposition company additional ways.
