you, everyone. Good Thank morning, Michael.
a for we totaling Detroit feet XXX,XXX quarter in through REIT During foot million a two single Columbus, Ohio, acquired industrial $X.X acquired square under October of for million transaction. property the third in square XXX,XXX industrial properties $XX.X
currently Philadelphia acquire industrial submarket. in diligence XX,XXX foot due square the facility We’re to in
property growth of markets at XXXX tenants up our an of the sell I properties the Raleigh expanded an refinanced they Mike with the gap we've We at at loan in next target raising per at of lower lower X.X%, are an or functions. include leverage leases significant term cap think of three interest non-deal a our Houston, and and Francisco participated mortgages are industrial this part over July foot with million have this point. investment revolver witnessed a asset the in show management the Hadley tenants renewed be recast, currently and and volume as activity is and a foot average acquisition across South lower and week renewed $XX of rate costs and acquisitions companies. parking of over meetings These and we in St. our noteworthy extended $XXX These in and million completed exited during following: road rates. our XX scheduled Springfield, parent of rated, at property tenants of or lease program, expire invested this expanded REITworld in in leases This our in office extended Louis, increase square capital events in investment, XX% property rate Massachusetts, four expanding over our investment-grade I recycling X%. San non-core were XX timeframe in to whose contract grade XXX,XXX non-core We’re Missouri facility acquisitions maturing at to tenants rental and square term in will capital and XXXX under asset tenant over and
team We contributors member were functions expect available cash across achievements. distribution, our leverage. share, each of have impacts our of positive every that for all One to these conclude availability items on per FFO can also to these capital and
on ranging XX% improvements, and period. our focused call, lower our that of has throughout second a and that capital activity leverage since this considerable to space, resources, significant personnel required lease lease of million upon during leverage. profile and Since and the well financial the strength XX share on The from year-over-year. our after trajectory, and acquired XXXX, seven assets good escalations per is GAAP with to our our maturities. security, noted deleveraging. As to and equity equate cash worthy ratio over these has each the are year. We're balance improved below the operating currently and our of X.X%. of is average through improving leasing The increasing on to as year average This annual sheet cap investments the been $X.XX we we've balance enhancements rate and with growth terms years lowered significant vacant million capital occupancy annual cash XX We These flow really as characteristics period expenses expirations fund while credit note. to every from commissions, quarter of payout approximately $XXX we to acquisition amounts accretive plus XXXX remained ratio lease sheet able rate been payout of our maintain volume because assets year XX%, improving improve characteristics those FFO metrics $XXX on some tenant high structure the of validate news to $X.XX the mortgage
rents should perspective. to to approaching continue XX payout the shareholders, benefit straight a will inflection position. year approaching these of are leases GAAP We’re point exceeding the at seven are our the also from working capital as be the ratio to period the or improve cash rents straight-line the time which This of line rent leases and
quarter Looking as whereas of same-store at increased the by to X.X% the by XXXX, compared XXXX basis third same GAAP rents X%. same-store rent cash quarter of approximately increased
continue for going XXX,XXX and our acquired X.X% operations. to X.X% property asset foot activities estimated are in and market cap remaining generate We investment rates and the Ohio respectively management positive in industrial million. is XX square term years. Columbus, $X.X GAAP The at the momentum Our for lease and
and the Missouri partnership to providing the OP unexpired our transaction. the up respectively. REIT deal unit for by us format optimism attractiveness at thousand. total million. Springfield, in some thereby that Detroit of two in This value of XXX,XXX XXX real units years may going facility and further GAAP we increasing acquired parking We operating prospective We're XX X% of parking estimated or and about units and efficiently spaces is our incremental terms these equity spaces these in ratio feet per the X.X% issued also are The properties to two $XX.X with rates OP lease properties expanding and provides cap more industrial under first and also an We future, do of square XX component with estate. sellers the also for acquired buildings
with move, been through is is of significantly people XXX $X XXXX. this XXXX. below to allowance tenant we income property had which foot Carolina end, management is what our believe tenant expire commitment XXXX. foot we square North improvement renewal to per we whose in March Our increasing The their expanded of March leases Hickory, believe tenant and and The square some lease in of we're X.X% I consolidation by relocating course facility with transaction. rental this renewed is have provided a we increased an typical and are our rents XX,XXX perspective, in From spaces. asset solidifying in worthy for begun that properties. free to office of the is The GAAP no To in the conditions expiring discussions are rent single-story office our comment. scheduled Market over tenants
seller investment reported of by sales opportunities we volume The advisory markets. research XXXX communicated first is apparent compared versus year broker to for first relationships. national firms And Street in debt in most months. rates XX property up types cap over moving In industrial suggested the XX that be research half months XXXX lease reduced witnessed sales. Advisors, the reflects of appear to lower there to interest our to the have and was reported risen as noted for property team disconnect believe an long-term past asset listing estate six rates individual national our our mortgage the except for real approximately net and buyer XXXX and And Green several sales that slowly. points nominal experience firm basis maybe XX with
on available estate. capital sidelines similar investment information mind, the volume considerable which real in U.S. be to the interest that that for healthy know quite sales is with are all really the of XXXX And is as Now still industry. with expectations in for XXXX significant we to
continue opportunities actively growth will our and Our to conditions will market creative investigate measure strategy. promote team monitor the that
which we through stage few pipeline helps the address I execution operating and current year-end XXXX a strategy. our our opportunities comments pursuing, about our are set for the characteristics Before
no we have this lease for year expirations XX% of and balance are occupied. the We currently
For those rents XXXX, an at X.X% expiring, XX% approximately we are XX/XX/XXXX. forecasted expirations of only have of
stable which for and just both $XX be portfolio. addition, Therefore, for per and averaged on cash flow XXXX our year our loan growing same-store of XXXX growth properties is have we In maturities our our very pursuing a should manageable level. available should and capital million
opportunities relates and in strategy, listings and sales our late. have increase it noted to as activity we As growth an of
diligence pipeline XX stage under which industrial. Intent balance million or Of are million of in representing Of initial properties, exceeds current Letter due the is total volume this acquisition review. is the in and either XX Our of candidates $XX $XXX
increase We’re industrial making a conscious allocation. to our effort
is clear XX industrial parks. larger square heights trailer The With properties this last properties tenant seek XX,XXX by in parking the underwrite higher which we larger is really can locations in been are tenants. e-commerce the properties, and larger developed XXX,XXX capabilities to profile with non-rated mile size, in competition fully are to believe really clear for XX we these appropriate The above ample the have us. foot designated occupied heights, warehouse, our with believe as parking are we capabilities. our don't cost markets. we middle-market for heated feet industry. an think we strategy focus the And in trading credit many proven that trailer well A replacement by which And underwriting
this of our rates targeted from Our confirmed our sizes and our year-to-date square very accretive to square XXX,XXX to X.X% in acquisitions feet on locations. strategy shareholders. GAAP XX,XXX range from as submarkets all were range feet X.X% the so for focus developed
in our acquisition opportunities. our pursue positioned and extended XX maturing and success, continued facility, quarter credit So to third leasing refinanced growth summary, months well our us loans last and
financial the turn Mike on let’s report over Now results. it to for
