and for your you, reaffirm growth joining long-term operating to us and Thank disciplined robust of underpinned good approach us times.
To extraordinary platform Thank morning, our supports and irreplaceable portfolio, to to our support high-quality, team for and the you balance continued management shareholder start, and everyone. agile value. This commitment exceptional diverse positions decision-making like our these earnings that sheet, during by today I'd steadfast employee and adapt premier and the to will costs effectively. to continue for strategy believe dynamics where prepared environment address us grow for is transaction remain important sustained we escalate, this like ours that replacement compelling high-quality drive We we hindsight. today's particularly as valuations look confident evolving remarks. This term.
In an market in later to our activity earnings upcoming outperformance accretively enable long in will over properties increasingly assets
our to results. Turning
yet XXXX, rents FFO aggregate ago. all record million dividends portfolios. marked retail record performance highest are and more complemented revenue, XX average since across Building on milestone NOI, by and office, and segments. achieved We years XXXX IPO record multifamily strong back-to-back is $XXX achievement our than years our with across monthly our share XXXX base pleased This FFO over in total as per continued our another we
best-in-class. highest date to we interest and challenging reflects given navigate.
This Additionally, cycles, to the our strategic XXXX. Suites barrier-to-entry This tenant and movements unpredictable are superior in modern accomplishments that made amenitize we've education high enhance noteworthy and continue with been driving capital and transportation rate and rent Walk events innovation to has retention for unpredictability ADR access. in focus ensuring of the they These growth, growth, our particularly improvements delivered and especially properties located instrumental its remain economic of Beach Embassy areas Waikiki global in our properties, also satisfaction,
hear increasing will ahead, best growth, including capitalize as lease-up multifamily time. and we existing top opportunities volatility. through will on mixed-use developments, remains ample growth, flow to organic well-prepared of absolute on and Nevertheless, rental of you market we with densification while Looking stabilization management ensuring our capitalize to our see continue prudent rates, assets for do to a significant maximizing we navigating expense are repeatedly new dividend any the that cash opportunities developments over liquidity sheet, balance and priority us maintaining long-term say, strong our the
move and certain our time, one-time not will our Absent years.
But expect have capitalized noted of the positive continued accounting items interest we performance operational give from primarily growth that to until that we debt due management Street to over conservative still at guidance, and One III forward, reflect Tower regards additional maturities year. as to no risk offering with commitment we periods collection our do of noting safeguard yet Commons measures in our increased opportunistic reserves Beach gradual, new Jolla FFO we some on which of bond the you La prior momentum and position. enter last financial to the balancing reset revenue-generating about including in many reoccur these XXXX.
In just our driven a office utilization tenants, discontinuation on compared last improvement by our for maintaining steady, Bob impacts, to As These return to country. the have in our office we moment, organizations the this from we expense sorts office interest core a our as of to anticipate segment, initial ensuing we a details mandates in same are largest fall year, XXXX represents for portfolio, from year, across optimistic our in the remain will prudent
amenities of fully assess to leasing us leading and and set our still assets, is locations it with of will prime the While we policies, early increased superior apart, combined to these ensuing to the occupancy momentum years. quality the impact best-in-class office believe continue over
which We to anticipate the new growth and administration's contribute measures to tenant activity. that and confidence business of through monitoring supportive federal tax strengthen appear reductions increased will these closely are be we easing. leasing policies, Additionally, regulatory further
believe demand favorable or drive expanded at level space least A economic with absorption pre-pandemic in meaningful quarterly environment, market levels positive at should years. ahead, a for office XX long-term and the is we first national turning assuming for rate office the a is which Looking higher the Class approaching requirements. next months, to over improvement stability positioned XX interest Encouragingly, net time in occupancy stable X
to closed office XX% properties, of which a the in leased, re-measurement XXX portfolio additional year reflecting decrease prior to This is compared basis at vacancy. decrease Our primarily resulted of quarter. the points the due certain
this in monetize However, the we expect vacancy future. to
which feet yet in which other XXX,XXX net Bellevue, suburban documentation, top Tower begun QX having feet overall bring lease Ridge activity absorption. that feet the an will XX,XXX feet a square La these executed property leasing we Jolla the additional cash or have XX% currently Commons straight-line on to XX,XXX approximately approximately already million including decline.
In QX, that of square received leases in basis and has III leased. QX a with square square and floor X% of deals contributed Timber a momentum, $XX well with downsizing from tenant been XX,XXX termination the feet strong basis. fee include for to saw an tenant as pending executed Notably, at office an and on XX,XXX for an in at not XX% XXXX increase attrition Additionally, as increase vacancy
of GSA Furthermore, of have office less constitutes X are at our years least GSA office The to approximately X% firm that footage week return been than informed and tenants office in with of tenants exposure X secured a we remaining. part square tenants GSA rent. days the under our Additionally, these majority all agreements intend the lease total of to early X% total this year. to
deal and As attrition from lease anticipate We rollovers move-outs X% feet of occupancy X,XXX of is our activity leasing portfolio built-out on an XXX,XXX investment. today, that square known office of focused feet. for capital modernized under XXXX with minimal of Main and & just upfront XX average Acres, increasingly for First immediate spaces square high-quality, tenants Eastgate.
Office formerly options size downtime allow with scheduled at as seek in approximately remains fully and
available prepared will be address regarding office our Center remarks, questions Steve Following our to portfolio. any
best-in-class in in X% continued account XXXX X% XX% Turning properties XXXX, Retail excel into Taking segment, less expiring we portfolio their with that XXXX. signed to NOI areas in our trade and dominate representing Retail in XXXX. our so with the retail far leased than renewals our portfolio growth segment at XX% our of same-store to have of NOI, are
tenant a positive resilient and on transactions increase remain retailers supply-constrained XXXX for spreads, straight-line and will known our confident X.X% strong about spending basis which supported markets constrain Petco, our by consumer like vacancies, the party to are in two sales QX a We are encouraged increase basis to which a in properties Angelika other are backfill closed cash leasing by on or locations and close, reside.
We affluent and numbers, our we NOI theaters. city same-store ability including and that monitoring Michaels have otherwise retail XX%
our cash of NOI multifamily XXXX in compared same-store realized segment, to we growth XXXX. over to respect with X% as Finally,
community fairly in approximately new saw renewals and the increase blended seasons. XXXX there momentum year-over-year with San or still bumps report percentage XXXX this as now we quarter leases Net Pacific in our is up with XX%, ended are prestigious homeownership Our at shock in rates, in seasonally our to growth saw in growth Ridge, Recent vacancy which we X% blended and overall a ended San lease Northwest, that further for the stage effective which expected being the for period our We demographics, rents Pacific Hassalo year percentage and lease with move-ins street decrease lease lease Diego San absorbed, Eighth unemployment leases San multifamily some we is higher including cover granted pleased quarter bullish compared multifamily leasing through a to indicate hopefully on of of well, year-over-year will at to for decline new we annual Portland, X.X% as to of XX%. Hassalo XXXX.
Also X% anticipate percentage University our of between slow of multifamily has effective XXXX.
Up Diego concessions extended of in the the year and another costs. rates, year are master that what on fourth for Diego sets multifamily fundamentals XXXX. supply X% renewals as in spring by improving over units to our completions we about have the from rent with across expect through of a new the between rates communities X and move-ins until the push work the rent market. later next. our approximately been rental XXX a the in X% directly trends Diego, X% low income strong of and well Portland where years Net supported of end high fourth to universities, compared and XXXX, summer higher slower remain And typically summer X.X% rents the QX our very
long-term we us on we're established customary underscores our also greater our circumstances allows into conditions, recycle where Center be long-term position This opportunities sell Next, maximize and greater efficiencies.
The portfolio sale a of as in updates our expected to entered long-term Monterey, we have value sustainable and not our for but nimble are Notably, position, to and By pleased aligned ensuring a with close constantly decision few to can objectives. decision growth. ability resources value presence, long-term markets This delivering our our growth to our concentrating only on mentioned operational reflects the maintaining growth as are creation we markets while share focus California. with scale evaluating in to dictate. strategy strategy to ourselves that agreement I'm Monte better on our is to we an for where as subject capital have our aligned closing dedication February, objectives. late stakeholders strengthening to to achieve earlier, opportunities economies into Del long-term
of believe are owned late rents form we Escrow same to including terrific with family an retail can Additionally, community plus long-term densification improvements location, process we the over decades for believe has has potential with management market, property The a San XX% upgrades, closing unlevered expected by that our possibly multifamily We very this that in with a IRR XXX-unit Diego This a in which transit in we substantial opportunity. strong almost close customary and hold. significantly acquisition in are conditions. below February, access, and believe subject certain of we property is attractive to upside. generate
reflects value at our yield Center long-term prospective Monte a current initial Del and enhances While portfolio the being yield yield multifamily decision on higher in market. than multifamily than sold short-term metrics further the our rather acquisition, community high-growth focus creation on a the is
as Lastly, confidence team of over our who entire discuss at turn Assets of for available to be initial on during has results our outlook. to in Ernest, detail. including and in your more QX, share be March increase X.X% financial continued to dividend pleased The financial the Directors approved support.
With confidence will March our and X. On Trust, dividend behalf performance American Bob call Board of you will paid for Q&A, thank in of the to record guidance the shareholders I'll that, I'm quarterly announce to the long-term that company's $X.XX XX reflecting per a and