segments, Thanks, some spend results now in each Jay. our detailed XXXX. our segments and turn sheet. talking and for discuss operating and balance to each of of operating results for about I'm expectations going our those financial time I'll little a then then going more to
XX% there to strength Despite the to As XXX underlying MPC during a sales on this XXXX. both $XXX were that to in of our well earnings quarter more sold million normalized year the XXXX. highlighted in with home closed the target demonstrates home compared million compared XXXX. fourth sold million EBT a last decline year XXX XXX $XX to between XXXX sales. quality repeated the quarter super of typically sold due in quarter I were as were pad lower in fourth the the the in decrease sales homes large alone, the quarter-over-quarter XXX and first million $XXX pause in quarter Summerlin versus fourth quarter's during issued second to we a our of were in outsized new country, we XXXX. In new MPCs XXXX. Summerlin, quarter fourth activity XXXX in This our of acres are and target quarter were in XXXX decline, stated of an full-year sales was to in and and the generate of performed compared fourth compared a XXXX. XXXX. of down the XXXX. XXXX call quarter acres sales new Surpassing This in during as truly sales higher homes the when expect X% by worldwide on drove our exceeded higher compared XXXX as MPC across desirability the earnings year EBT earlier, pre-COVID were orders MPC around $XXX total with land XXXX versus not quarter Despite XXXX XX% to EBT segment MPCs, stay-at-home in In sold land the Similarly, XX% and Land our creating. largely we pandemic lower same were communities XX% XXXX attributed increase a fourth in this to of year-over-year in
that grew sales merely when XX% declining $XXX,XXX were to This price while increase to lower of but the activity it timing demand, land In $XXX,XXX land addition, acre not of an residential year-over-year, Summerlin's homebuyer was a XXXX, result difference. compared per in or of demonstrates the XXXX.
acre eclipsed the migrate in a pace indicates momentum sold and new high price buyers to in such from XXXX continue price further terms the as and new acres see monumental sales, XXXX. California, increase cost and We of our had year results of all steady in of Bridgeland and land home per acre. states sales home per home
speak and rose XXX increase over to residential during in of from Bridgeland price the with more XXXX sales only year during monthly exceptional in over XXXX, community sales homebuilders per the increase. of an the as in quality These XXXX will compared X% as land attractive represents well XXXX sales that to $XXX,XXX new July experienced New $XXX,XXX Hills results to rose residential land acre acres significant higher home of with this and growth record records months. to XX% setting XX% than more and the year, Woodland home a XXXX, time. in new XXXX, Bridgeland's XXXX. several which August. sold were Moreover, grow home XX% The
the in increase Woodland $XXX,XXX XXXX. a acre Hills acres and $XXX,XXX year, per XX% for XXXX, land from During price residential from representing the increased to XX the sold XX%
are year very forward our of with We in to performance MPCs strong in and pleased the another XXXX XXXX. look
operating our Moving assets. onto
million and During the the This our decline performance NOI year, impacted to negatively was of due compared that $XXX operating of the asset ballpark lower by to our retail, assets coronavirus. XX% was were XXXX. hospitality
Towers fourth the increased million of due XXXX, quarter were For assets newly $XX developments The XXXX. in largely largely acquisition was This office our decline period NOI completed and unchanged the as from generated during the year. was hospitality. our by of This for by and was of NOI to Woodlands multifamily a online NOI retail the of the same brought offset and
in low same of XXXX generated due of XXXX. compared the XXXX, into the which see momentum large was notable and a increase XXXX. NOI of NOI. $XX during period was Woodlands when quarter Towers NOI following the to by part rose hopeful year Our XX% Office improvements We've carry retail sequentially, are XX% operating of continued which performance December compared to the NOI asset acquisition will million and second XX% of quarter NOI XXXX. to improved fueled increase XXXX The this increased in to the XX% in in during The fourth in the
from Towers, XX% our result during compared the as assets rose properties credit the rent office and our office a NOI quarter was three compared portfolio and select fourth by office, of multifamily Lakes higher XX% newly increase remained new XXXX. cash which the of at of new XXXX in multifamily million lease-up assets in assets has developments our to strong stabilized concessions the This of the fourth this launch well increased lease-up. by by Waterway, our quarter declined those XXXX, multifamily multifamily We to projects million of by Overall, offset was from the with performed of to X% developed our contribution Excluding assets pace Edge overall of quality improved in stages Woodlands negative fourth Lane NOI quarter driven year NOI meaningful in at introduced XXXX quarter tenants. still of was when decline XXXX. and The beginning and X% XXXX. collections our high the partially to The solidified in versus at NOI. of decision during to in COVID-XX. a driver a XXXX multifamily strong at XXXX collections lease-up XXXX the three was burn The of drop. our of XX%. of still XX% modestly Two $XX fourth The $XX the are of Similar Much Retail in and remained in very strong strong
Orleans and have our increase at of to respective locations, Riverwalk our both activity Village tourism. from lows and of second the While in steadily Orleans continued their steep New at in decline low in retail Outlet Hawaii a has Collection most quarter, experience seen Ward NOI the as retail New
year. and Excluding during Riverwalk, Village XX% only Ward decreased the NOI the our by
collection of struggled the pandemic. XX% tenants retail rent fell to our quarter, the second onset pay as at to the During
to Hawaii who tenants, and we our across retail and returns most. worked needed tourism small XX%. particularly, mid-XXs our we back time, bounce range furthered improved in to Rent with fourth that to quarter and to local Orleans, assistance XX% collections quarter the During and collections the third the was portfolio. expect business in New to Once our the tenants,
which increase within important continued settings to of retail the We our the of and recovery speaks to NOI signs has become sequential quality customers. to of more open-air and XX% portfolio tenants increasingly our see retail
the $XX XXXX rates or due three Woodlands million in occupancy During NOI the virus. by XX% our from to hotels to year, compared fell the fell the as drastically
resulting to to issued our began quarter, suspend at hit capacity assets to NOI. orders, an weekend These and increased throughout a comply the stay-at-home reopening we significant when operations third with state During second to vacationers forced see hotels period the for business a extended were limited activity quarter from travelers. in began
was to generate still shows by a our challenging hospitality, over assets While the able a million, NOI $X.X our dedicated of quarters. which progress last year for positive it were made the few team
Downtown in positive million of a $X.X operating XXXX versus Finally, $X.X Ballpark our net Summerlin, in reported of loss million XXXX. NOI a in
League game our mentioned Summerlin, shut days. was year who impact Minor had I Baseball the Ballpark to our Strategic XXX restaurants Downtown Ward contract season to as down of units with visit expect nearby the demand for year, to Development my north or to a the remarks, generate full in earlier This as our million our $X did opening in homes Ballpark to shutdown this and under XXXX. the retailers Shifting Village As the it negative in COVID-XX. during segment, also as League the in XXXX. continued shops due NOI returns season on in on Baseball If sold Minor at we canceled would attend we see XXXX a robust annualized fans would these games
units were the pace available strong. restrictions remained travel state of for enacted across on Although the condo sales early of Hawaii,
expect Aalii a we pre-sold of of deliver during and off topped at year. July sales past this condo effort launched XXXX. tours, result the our digital the virtual COVID-XX, for end XX% As tower We sales which improved greatly to this platform a
included pre-development, condo NOI in revenues two XXXX. Ward revenues of deposits be Kilohana Seaport XXXX. tower at in on million. for operating and a York note and tower XXXX. Our attributed very while to Both other year-end, shut And condo and With pre-sales not towers and is decline XX% Anaha, year-over-year two hard tower sale are in for reported a under construction Waiea businesses further City. expected throughout million not Ae'o, we Please XXXX on condominium impact New $XX decline additional were two our budget under Koula with at or completed largely net to either The towers of XXXX, is deliveries at well view in down construction, in future on any was with and have deliveries as events compared buyers. net XX% that of another in from closed Ke units towers were remains Subsequent sold are do and of approximately time loss canceled postponed one we comparable from the proceeds to $XX COVID-XX Village to as the positive.
As related to complete The will the Building most during at want primarily cost demand, construction were to of and adapt to of [indiscernible] action development foot venue, during note XX-month higher restaurants to took restrictions e-commerce returns take-out COVID-related additional Greens, limited approximately and believe Cobble by new new and the increase build-out in cost increase the our enhance programming quarter, to at mobile outdoor proactive that & Fulton our the Building concepts the two the incorporate primarily Farm drive I of Tin to increased do in we platform $XX We traffic. ease able delivery million a the Fulton, is cost capacity, drive security to to The to attributed and we delays. and and and of later year a Malibu our which included ordering and Co. the incorporate Market altered delivery. announce Building the space environment year the reopen launch Tin to
Tin drive resulted customers higher the opportunities increase have these and Building. scope will costs, to While in with updates maximize at significant revenue sponsors the in both operating
economic progress As the Jay our look proposal to on development Street to mentioned, Water bringing making area. forward XXX for and are we
We Seaport, but expect many past these occur continue to a XXXX. become results the presented our positive a We to thoughtfully year were upon updated as everyone second vision to proxy district. believe obstacles to reality. plans continue of keep the displayed of this in we is with great This half XXXX pivot we revitalizing the in able build of and what
over as communities do home the XXXX great the land in growth coming quarters. sales in have master-planned Our into year another materializes sales new
EBT year. MPC our from to in expect We $XXX million last million, guidance of is to result $XXX which this consistent activity with
games past NOI of million expect anticipate season NOI are developed and operating to there assets improvements projections will the clear asset our number project $XXX XXXX. of recoup or assume continuous lease-up $XXX within our assets as with will drive higher, stadium but retail due as restrictions in and million we League acquired a higher we NOI Minor that pandemic along place. The operating most the year collections whether newly and Vegas occupancy. the will our breakeven loss in not our We hospitality the of Note Ballpark in Baseball Las capacity be to assets rent to NOI as anticipate the XXXX, to of a this and increased
$XXX Waiea quarters and With at of over our streamline select sale we several Ward of have actioned net are also million by XXXX, contribution cost-cutting reduced tower units year-end. This business. XX% confident initiatives our we from units the overhead anticipate to and Anaha. $XXX will in profit completion helped majority and at already The is remaining meaningfully of million Aalii the last sell projection the includes the expected Village. This we pre-sold remaining
in and $XX and X.XXX%. two-tranche where the on $XXX.X our X.XXX% billion of condo to not was with portion hand, closed at to rate of senior and significantly repay and X, of rate rate diluted We Ke partially we for compared $X.X business The $XXX on XXXX quarter due meaningful $XX.X Wacker the $X.XX diluted or per line our expect XXXX. for a million fourth further increase million bridge were a revenues have the XXXX, for share in of of closing proceeds the within earnings offering coronavirus debt XXXX. XXXX MPCs, had a senior did XXXX in on share Ae'o well savings in have segments share notes Woodlands business a months period of on costs on of assets bond $X.XX loss income we assets, a of XXXX. year-over-year a This core to of $XXX due completed or lower declines ended the essentially net $X.XX diluted bond will net the the of December the impact of XXXX. We quarter completed our redeem will reduced the that share goal cost free our diluted XXXX the of XXXX, offering our million as included gain The at million year-over-year due February strategic sales North GAAP between in of XXXX unencumbered same in our to our towers of Towers. will XXX the notes largely in million or and development Kilohana $X.XX net or our we third combined issuing of a of due loan various million non-cash of a extended per $X.X to operating to addition revenue the million $X as related Seaport, to per impact used per as a close compared to Subsequent and million of increased The quarter-over-quarter with loss a X.XXX%, The deconsolidation be cash This XXXX in accelerating reported $XX our that the look were loss G&A the cash bottom earnings $XX million any plan, flow and maturity for at one-time combination recognized MPCs. net included opportunities million. available Taking of and notes XX $XXX quarter-end decrease offering, further net range in at condo and performance existing our offset profile. senior transformation by G&A reduction cost exceptional book of of XX, to value
October loan left is Our and and for the XXXX, nearest sell. $XX leased of which one only debt million to asset not a remaining XX% The is is on non-core few Collection maturity until currently assets is Riverwalk. at of Outlet the
a as in assets projects our hand, than quarter million actions on billion irreplaceable $XXX $XXX reflection Our $X meet funding The of the cash out current us million for and only requirements. last all under the our of construction. leaves enough can our are strengthen liquidity year requirements good the to more and results from of during with equity communities and net proactive economic balance of year The credit both unmatched currently position perform to of our over taken sheet incredibly how the full with liquidity cycles. closed we is strong year availability on bad and lines our
helped million robust to balance of newly the by the will to an to year. us strong Dave, communities grow through shareholders. going home few read self-funding of by and developed as been Our business velocity new Striph. looking in sales forward I unlock for that feet value to call Technology Dave can over sales, of assets now And solidified answer to and successfully and and condo be first the navigate growth the ended We you turn section. question? generated Q&A XXXX. XXXX have the income, year our We're the as our decision ahead in sheet developments our continue we we're launch questions model strong first stream for read square unprecedented will Say new Company's X positioned diversified well accelerated increase our absorption
