top this hope our concern and all of a Trust at us vendors American and communities, us contractors From during your our healthy unprecedented Louisa. today. we remains morning tenants, and joining global crisis. Thanks, their health for safety our employees, you are The and safe and of families you of and Finance ours. Good thank that all customers
year. we we first highlight results strong into quarter reported night, that the momentum Last this had coming
we team a reflects strength forward, and in capabilities to have our of degree our outlook that high continue portfolio. confidence of Going the financial the our of resilience and long-term
pandemic, of and given initiatives pleased call the this inevitable taken actively in COVID-XX the to concern the surrounding an the period virus of Beginning and overview start navigate we're with mitigate we'll to early steps took would cause, initial we However, for prepare this the results. disruption this uncertainty. proactive with March,
with localized work directives distancing have our carefully contact the both cultivating strengths. which remain prior of we and by transactions consider cooperation deepening policies, our historic measures one most with or safety remote we dialogue authorities, enacted required closure that and important open relationships recommended and operations, curfew including through be and developed to in We and social direct local tenants, federal We measures.
Thanks tremendous due our underwriting collection last our to these conversations had in several this diligence pandemic. success during We've standards the rent and to adhered team years. and over the strenuous has
the across of rent due in the top cash rents payable our the portfolio. receivable including of rent collected and portfolio, from month of tenants the XX% single-tenant XX% that AFIN April, nearly cash For cash the over XX% of were the XX
of with currently been approved rents in Of of rent respect rent the amendments deferrals remaining, the cash rent April negotiation. deferral unpaid an are while unpaid to cash have rent the for XX% X% additional
lease result tenant agreements. have requests with resolutions, understand ultimately not and allowed under tenants in mutually all proactive nor potential together Our contractual discussions is the challenges rights agreements foregoing modification achieve to company to work its agreeable us the
access to well because during investments as to times for the the of the of data XXXX. has metrics with support manage and is technological differs is amendment first our of had repaid several payment three approximately to tenants far, due within XX% as over half months So of system portfolio teams deferral AFIN we're actively the these The readily other typical negotiations using to available these rent last our and years.
We stability a is during value value continue growth creation. of landlords the our tenants good to this Helping own our position do cash long-term thing and tenants physically to our be best we long to unprecedented strive to secure long-term as and remain and secure partner healthy, steady relationships. our importance situation can flow over the term for the
history to is single-tenant from and grade of portfolio straight-line tenants. significant our a grade top investment rated our assets, comes tenants, leased including XX implied tenants investment Among XX% underwriting, of grade portfolio-wide. quality of investment high Thanks rated rent XX% or implied our to prudent grade investment
Once opportunities we're any and that that confident not such long-standing agreements our which selection we the strength widespread from crisis, will approach stronger credit event. arise to see this due to emerge are collected tenant to completed capitalize very and worthiness on We that of a an our be work portfolio will unrelenting little financial position our yield from to asset sure even from deferral risk roster. disruptive
taken also minimize steps flexibility to additional our enhance risk financial during this time. and has company uncertain The
under the quarter, As result, $XXX for million the of comprising end favorably the on sheet future. first and positioning our company the our availability credit cash facility a for balance at borrowings liquidity future totaled
March, enhance of credit we our liquidity became facility the crisis to the our position as drew on apparent. scope In
annualized of per in approved dividend to rate common the of beginning Additionally, $X.XX quarterly XXXX. or share in change a the second quarter per stock the share $X.XX Board an
the the best The price was flow cash and quarter. We discourage the Board to preserve that interest market as short-term Our to shares. the current the in the our first we'll a accumulation April, company. of plan, In of other our the believes volatility stock with capital through announced in $X.XX recently believe quarter actions adopted of order trading is action trading along strengthen share. a of Board was AFIN's in result stockholders AFFO this by open in per million $X.X this plan current environment prudent right per
will We term, challenging. be believe global the the that the over the across will while rebound, U.S. short-term long economy reality
and credit We the continue our worthiness run. offset of the will position the and that will financial potential expect tenants effects AFIN the long portfolio in to well this of crisis strength in
are in stages Although, far so economic has of times. we're the our shown early likely event, these this the still uncertain we with pleased portfolio resiliency in
and first the to NOI we EBITDA. in increases revenue tenants, Turning quarter recorded year-over-year results, from adjusted
million the increase XXXX. completed was For that million acquisitions $XX versus the during in the X.X% by XXXX. of first NOI AFIN year-over-year cash The significant quarter, $XX.X quarter first was driven
million, adjusted increased tenants increased XXXX quarter and to X% $XX.X million. from to EBITDA First X.X% revenue $XX year-over-year
X.X%, a quarter, of million properties weighted weighted acquisition average remaining first the lease for completed XX.X years. acquisitions totaling with The purchase the of During price. AFIN these rate $XX XX of was term average contract cap
We pipeline have at our of $XX.X additional closed and XX combined totaled weighted average on weighted XX.X one lease years a rate, million agreements with term. remaining in of over in acquisitions cap place average asset second quarter, definitive the which for X.X%
prudent taken with evaluating We've acquisition historical stance a our cap pipeline are rates. and
new carefully that targets revised determining and our for potential assets we'll acquisitions all appropriate forward, We going criteria. risk meet cap ensure adjusted rate are
Retail increased the acquiring diversified has strategy single-tenant year million We're leased portfolio line to up of makes to our rent with retail on a quality further acquisitions Turning XX% acquisitions. progress annualized high a foot of square the with comprised of XX% year-over-year the made very to basis assets XX.X% tenants. pleased of distribution straight office metrics, XX% XX.X portfolio, and properties. long-term after have active our balance
high annual XX.X% rent with very is XX.X portfolio over across concentration expirations investment tenants next lease grade XX% with annualized cultivate this a or a single-tenant continued in near-term portfolio, of standard. There quality our Occupancy high straight single-tenant escalators. four with only line expiring of the XX% grade were implied of term within average We've X.X% remaining and leading minimal the portfolio rent leases average lease weighted of the to in years years. investment this
dispositions. Truist the to Bank formerly our gross acquisitions tenant second quarter to $X.X Additionally, the of sell for contract any SunTrust under the quarter, of two one we branches first and through continue we exposure our are In four sold million reduce and to beginning proceeds and more.
the we become Corp of National Truist own will branches eight branches. Horizon First Additionally,
was part into approval required gain between BB&T to and for SunTrust that transaction, Truist enter regulatory in the created of order to merger the As Truist.
First Horizon approximately rent, of with X.X% investment operator this grade listed from a and the regional significantly down rated Truist National completed, branches. completes line will Corp XXXX. our contract of AFIN under our the time X.X% exposure portfolio in XXX are After straight conversion is strong dispositions be at to
Annualized XX, from in property leased square XX a quality Our million net million single-tenant to year March $XX first XXXX, quarter in straight million portfolio up XXXX. XX.X% line from multi-tenant with complements as XX.X% our foot portfolio an ago. rent is up occupancy of X.X $XX of
long-term we During while remaining At and available the In the renewals leases and add portfolio over annual and in weighted helping renewing rent and new first lease three quarter, increase the seven occupancy continued new Patton signed Center extend quarter, lease additional with space $XXX,XXX term. Creek, nearly leases up will focus rent. renewals, and average add NorthPark leasing rent, lease $XXX,XXX to leases to top on the will in we tenants. annual
you in through more walk results will us please? financial detail, the Katie,
