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jump me million. a the in megawatt of Americas quarter, into another our We in plus led $XXX results. signed interconnection with to greater X megawatt first than record right million of of bookings X the quarter first million leasing, leasing new remaining $XXX million firm X and $XX $XX Let by interconnection leases at
backlog. our to Turning
record record the the of outstripping commencements $XXX leases new but to at during quarter a the $XXX commenced signed swelled Given leasing, of record of end, a not backlog with million million new quarter. yet leasing
likely than to during the the XXXX, of record backlog is remain slated to Looking are that commence half indicating remainder ahead, elevated. of commencements more
have we quarter, expirations X a record in over strength the of cash to year the record leases regions, with healthy, remain of well expect signed particular to again segment a were the and increase products at During positive first $XXX lease Re-leasing they likely once weighting the moderate been XX.X% now, Americas. a in spreads the quarter's the while that significant on record basis. for X-megawatt for steadily of they're across a remainder will spreads increasing of renewal this and Re-leasing we very year. given million in
higher skew important to is a of normalized the X our view it the spreads spreads items think quarter. first in renewal reported we addition, headline as consider separate In
spreads notable category other XXX not reported the to for transaction repeatable was in [ the recurring considered points would by this outlier should X.X% a overall quarter. basis be reduce or and ] there removing First, that our
data a transaction X this greater as significant center we a part renewal megawatt broader work was tightest our one there of our segment deal to needs in in markets. was Second, than of that large package support capacity customer's early
X remains the this megawatt expiration of mid-single segment, X schedule While enabled in to years, to forward dominated digits, transaction we from us lease year what the first to expirations our quarter. akin pull our saw experience forward some in our opportunistically low which by to spreads outer below-market to the tends
outlier We the up than be a opportunity the packaged portfolio. continue greater this Excluding predictable to a been renewal, deal on feel growing would capture opportunities will our megawatt both the in see periodically X.X% portfolio, transaction is that our aspect have of re-leasing spreads in quarter to and more the able that cash basis. mark-to-market and may we X
completed the of JV X% or benefit reported stabilized we growth was deleveraging as of in in and first spreads, new with contributions leasing. increase in earnings year-over-year.
Normalized sheet.
And was since quarter quarter leasing FFO fell our first year-over-year, reflecting balanced the reflecting results, billion electricity in $X.XX by per of $X adjusted year-over-year asset terms the improved revenue rates decline along strong associated with JV growth, and of organic partly balance reimbursements revenue the modest and sales of in expenses. the assets the utility growth the core of beginning strong to normalizing year, early last growth the completed EBITDA X% of dilution due operating In sale in ongoing sharply year the tempered by for increased Revenue the stabilized expense operating quarter favorable total EMEA share,
stabilized up supported in earlier, in X% driven and Andy same-capital cash control. continued plus saw As rental strength year-over-year quarter, noted further with by the expense performance revenues operating growth interconnection by first X.X% NOI
of the our our development JVs. managed million in first decline development this across development the our on million investment capacity XX our delivering of worth of JV for $XX another megawatts activity. sequential consolidated $XXX the customers.
It's of for contributions the to effects million $XXX quarter, share plus We globe spending spending spent new in which unconsolidated highlights on mentioning, of quarter approximate X the while our Moving
However, seasonal the in first and other factors CapEx spending contributed quarter. also timing-related to less
sheet. balance to Turning the
in continue the JV phase of JV first the the the the closing We the to an GI of balance XX% share additional including transactions, hyperscale of with [ strengthen sheet assets X first Chicago transaction, and development to quarter previously disclosed the our Partners. in hyperscale ] stabilized Cyxtera sale of Blackstone our
Metro. During also completed with the Mitsubishi X development quarter, the a for JV hyperscale we in assets Dallas
owned first an piece Digital to and at million, Mars Dallas of Core reduction raising news, raising million, million. XX%, XXXX.
Then $XX Sydney, GI previously also REIT for the to campus on million. by campus to we site, X.X ], contributed an Grove the Core Energy in our for continue CHX and [ for which of result a the our of easement the to third of rate our Elk ] [ at recycle we X.Xx Australia stabilized capital Digital Dominion all at to new April, XX.X% XX% in nearly $XXX a substation selling versus on X.Xx hyperscale And build Frankfurt facility final interest terms at our land the in leverage of In Digital $XX a end additional to cap end sold $XXX Partners, we REIT, quarter in provided reported another
the is In Blackstone addition, million maturing our this on Phase transaction with X.Xx. for closing forma along notes. of of to the the X year, we some hand pay transactions, used After pro these cash of euro anticipated $XXX adjusting off later leverage of
ongoing the We to continue on investment $X and with XX total to of approximately at billion keep March billion balance over liquidity opportunities. $X.X significant hand cash on sheet support
our debt profile. to on Moving
debt denominated, the our strategy. global is debt providing years, and interest of debt weighted our debt average for capital our our and fixed XX% average Our non-U.S. unsecured, recycling. our of X FX XX% X.X%. XX% reflecting platform is Approximately our flexibility over rate ample growth of dollar Approximately and hedging maturity rate is weighted is net is of
debt ] maturing paying [ after million Finally, $XXX XXXX. [ of have April, we earnouts ] off the through year-end in
maturities guidance. finish our XXXX.
I'll remained with through levered that, [ ] Beyond well
are continued our our are recycling, of accelerating we leverage for in capital We FFO of front company the improvement spending by for and Positive range per operating as full in maintaining our in core trends seeing development reflecting position the year underlying share, between the are $X.XX guidance towards business. core $X.XX and potential acceleration the move partly down the long-term target balanced additional us. opportunity and we XXXX
our strength same conditions the along in continue so portfolio. our spreads are and growth the maintaining with cash adjusted fundamental execution that total across see are reflecting in ranges to on leasing We expectations, GAAP quarter, revenue cash guidance the EBITDA and notching up NOI our XXXX, front capital and first our re-leasing we for better-than-expected we
cash range. XXXX, prior basis to up increase increase expected X% to X% re-leasing X% XXX discussed, at X% margin points to points cash the the the we spreads previously basis X% we investor now Specifically, headwinds in be X.X%, to NOI to XXX our to to for February.
Highlighted are same-capital the X.X%. our And is nearly now provided from would power X.X% X% XX X.X% up growth from XXXX midpoint in expected up NOI excluding that points presentations, of basis by cash in range same-capital have
as FFO core of balance stronger are a bode and the for year, models. per factors improvements quarter well these there the you're realized mitigating few the refining first to share consider your in While
recycling we April. $XXX-plus in First, the million a completed see on of will modest capital drag
asset reach guidance are and end there both Second, the still their way of spend high only for development year, of potential the sales to and the ranges. we is X/X significant into guidance
uncertainty guidance provided and In changed worth rate of this remains since out and another outlook the is balance the pointing interest that addition, of source we for year. considerably it have [indiscernible]
update. reminder final and one Just
share development of $X projects basis become another of of our to we completion have complete enhanced transparency we company, on joint will around projects higher-yielding ventures; increasingly ticked of disclosure XX development center Over points are you take lower-yielding and our and in reflect supplemental find ]. to: up stabilized. Page ventures session? increased that sequentially, you will capacity prepared pleased our accretive terms expect provide stabilized yield unconsolidated of billion XXXX one, cycle developable and XXXX, the XX our as contribution data to projects.
To higher-yielding expected or on The course reflecting hope this joint our our could proportionate now questions. pipeline total the development, Operator, addition your the schedule pipeline our of provide important and [ around two, including and life to please increased our concludes begin IQ aspect logo this helpful.
This remarks. be we the We evolving And of our help Q&A
