the XXXX good million up first and XXXX. with update, of morning Farrell, million, our Thanks, available in was common quarter net to $X.X everyone. Beginning from performance quarter first income shareholders $XX.X
merger. XXXX, $XX place four our expense gains of with of the in GAAP million is estate a on amortization quarter first the assets one-time income from of During million and of net $XX.X STAR disposition real associated inclusive leases
assets our were deal As and highlighted XXXX we end sold combined the with these proceeds sheet earnings a to call, balance in post merger. used year
This a organic growth sizeable driven to completion share the share revenue IRT's in increase in with first FFO the accretion generated quarter in $X.XX income growth throughout XX.X%, as result from our increase rent store This to grew combined from other average quarter, the a ago, well the is of of up core QX, rental combined we've XX% portfolio. core million, XXXX. was first grew of same and an $XX.X FFO share, During merger, growth NOI and communities. STAR as year growth per a STAR growth XX%. $X.XX up XX.X% rates related experienced driven by per by per the the of $XX by million
communities, NOI value-add similar same-store of the market. we did reinforces communities, of includes our core our growth which see value-add growth fundamental While XX.X% at non NOI this strength
driven The same-store property services, operating by resident costs. was expenses the On side, X.X% quarter, services as in higher renewable first contract expenses contract reimbursable expense operating some [ph] by combined well expenses. for in small grew led services and personnel increase as the
The our we've On personnel, as roll particularly value-add our billing positive than example, communities. community offset portfolio out incremental higher primarily income service driven inflationary services at the STAR's residents, of incentive increase more residents. by expenses, services Clearly for other during is those For to in to XXXX, of QX, compensation by our was to increase reimbursable in contract continued well from the payroll quarter to this performance. incentive was a services as the compensation increased result pressure. this
in same moving balance our STAR Appendix provide be to will XXXX communities. on results IRT broken sheet, the like down store we highlight between and our Before supplement legacy QX A combined to
growth rental and strong As execution you operating will is a other property as part our as the the see communities we well of of as NOI the of identified XX.X% synergies growth, result that of STAR's merger. revenue
sheet. the Now, balance turning to
March of equity liquidity was $XX from ATM $XX facility, million, of capacity foreign for million XX, As of approximately $XXX million of million our $XXX available unsecured unrestricted we position credit additional proceeds cash, sales. had and
and made was on a XXXX. target seven year, by year end the at excited We're quarter end, expect down low is the from and X.X Our we've six end by our front the times year X.X on ago. net mid to the achieve this deleveraging of leverage of times progress still debt-to-EBITDA
on merger strong full Regarding XXXX continued outlook strength our in and seamless our economic efforts. the our guidance, updating year fundamentals, market our we're integration
$X.XX. EPS Our of range of share share, core guidance range our our NOI increase This full interest $X.XX $X.XX FFO midpoint performance a from to and of expectations guidance includes per year. a property is XXXX core guidance. lower to $X.XX it per $X.XX The now and is an and share QX improved diluted FFO the how per increase of an on of previous impacts expense of result $X.XX
same-store or expect portfolio of XX.X%, combined now midpoint. midpoint. basis same-store NOI growth of increase the This revenue the combined increase we expected with an guidance XXX points X.X% XXXX, at For to reflects
an midpoint For rates. XX.X% increase to we be guiding in XX.X% occupancy of the average our with are XXXX, rental in average
expenses expenses, received we real to as to on controllable due related guidance reimbursable guidance on this from the to costs in taxes associated estate still incremental information tax services, year. to primarily some this as on inflationary well our until with it residents more At pressure. is expenses assessments point, is too is update incurring enhanced our Moving and early compensation later the operating increase are incentive
assumptions investment our we targeted two activity from volume identified to date, providing assets our Regarding dispositions for used our to we've recycling given updated historical transaction we've investment The the announced proceeds well are will in held markets, expectations, be sale. and communities with invest consistent activity. as the capital as the in is
to I'll turn back Scott? Now the call Scott.
