Good you Armada review forward the Hoffler's us XXXX. morning, results for joining and thank to path XXXX for and
We turned Armada the chapter to leading honored and company be as page have into we future the the achieving the toward at next to work long-term Hoffler objectives. our I'm
through advances dispositions. leasing, the details. last executed made significant the and developments Since call, delivered now will in we've walk asset I
remain stream goals: to we reiterate quality. the core that our improving sheet income committed I and balance
Our strength short-term on maintaining sustainable the financial strategy in while an positioning is growth for company evolving market. centered
our the remain with highly focused stream to quality improvement our and as continuous income company's will on enhancements sheet. surgical intentional being proposition, We balance and value of
impressive an all delivering diluted had very FFO of fourth remained across FFO of classes. We of demand per strong $X.XX per normalized share. sustained tenant $X.XX quarter, with asset and diluted our X share Leasing
nearly XXX,XXX positive Our feet commercial of renewing feet new quarter, square on square the accretive the transacted during team at executing X% leases and spreads. over XXX,XXX over portfolio on releasing
is fourth turned since new Atlanta slightly have competing year-to-date supply multifamily were as Charlotte in and XXXX While quarter negative, positive trade-outs markets the trade-outs absorbed.
to that surface, We back a We this $X.XX. with we That where released as we that believe that quality. decisions last reflect our year. simply step might $X afternoon range recognize improve our underlying led XXXX to viewed intentional guidance said, of the range from be a actions this yesterday ended range the to on
onetime interest income relating in to we fees challenges delivery construction includes range and expense XXXX. the are as Additionally, and transaction specifically delays, market recognized dynamics navigating,
consistent focused long-term positioning to We committed for company the and are growth.
disciplined capital XXXX. emphasizing We portfolio. to are bridge approach XXXX will continuing to through allocation taking to details from optimize Matt to specific our and investments, walk a prudent
I in would remind the the success. continue more of company you quarter will discussing to like for Before have the to long-term taking position detail, been steps and we
make within may continue has growth having been of multiple choice then value one our on and to up. to focus on institutional that given where current stabilized recycling the assets is feel is and will the willing upside better opportunities footprint. this within interest sectors benefits We ability where limited The to we pay to long-term capitalize options that arise maximized of
fully capitalized noncore than So selling over low assets spread X $XX rate at quarter, we range. price the assets, heightened X% a a XX% thesis. stabilized out fourth retail U.S. Southeast sales cost, more proving blended the The in company's the million retail the initial of cap represents profit on for aggregate our development demand in
community. finalizing are T. completion, employees Point. having nearing is headquarters look assets and to We Price global the at the their X,XXX Harbor development The Rowe forward join we
the Similarly, alike. this an full Post NOI response start fantastic and a growth periods. from ecosystem. of retail been to The thriving It realizing positive community their opening has overwhelmingly and the the coming and continued collaboration Southern we doors the about residents receiving excited value successfully and mixed-use we're with are within is excited see in tenants visitors
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sheet we XXXX, retail that, At while X strategy, this prudently of flexibility. reducing financial are of enhancing earnings, focused and part we diluting on the end debt. our to allowed further assets strengthening As by leverage disposed of us our decrease balance
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that approximately successfully X reduced September, door next $XXX million common the multifamily positioned to we leverage across offering over in As equity recall, executed XX% assets you high-quality year, increase units in a count. add resulting and us in XXX
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space at Interlock. backfilled we Notably, former the most successfully the WeWork of
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tenants rollover renewal or we we Although that office near-term potential existing is recapturing. early anticipate space low, or proactively opportunities candidates backfill identify and
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Town occupancy Harbor Center result dynamics and demand downtime. Favorable office and shorter in in Point consistent high
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completed Beyond brand space having all of national the will Beyond end backfilled credit by grocer previously name we the the Columbus Patterson months leases XX in are backfill credit to now new Bed retailer, by and retail will former tenants in national These Place of at since our also In Village income has Bed Beyond. the X the Bath team significant occupied Center XXXX. the projected both a retailer, occupied & Furthermore, specialty who previously substantially and open X & tenant. Town rental Bath by realized be released Beach, sports Bed with Virginia of Bath spaces to closed, another & at space XXXX,
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of space, received we've the tenants demonstrating continued unsolicited already demand inbound retail interest for potential backfill on this Fortunately, centers. from all well-located
developments, risk on we to these As portfolio. our monitor any mitigating we focused continue remain to
assets occupancy. and our competition such continued operate continues and XX.X% well lift, as our stand by we high-quality The amenitized Baltimore to The the well-located, the multifamily in Virginia submarkets. and to thesis: portfolio rent at within Beach growth markets outperform create
there and of in over effect started should start in XXXX may the This is that result improvement and evidence Southeast in this be as know, supply you absorbs some to incrementally easing supply we XXXX. submarkets. rents pressures recognize our into As have
Point. Allied this of an confident moving seeking a This already for sought-after the living views Earlier Harbor amenities. experience it this multifamily will stands we're Allied and residents receiving positive as feedback, exceptional top-tier asset offering is a residents into destination location. range premier property in stunning to highly area, waterfront out year, be began and at vibrant in continue the
right the long-term focus strategic We on assets to that investments our have intentional objectives. our with taken align steps
the are disciplined and cost a in deploy While business our we we of capital. committed how challenge, refining to current capital model staying remains
value continue believe us of these for confident shareholders. long-term poised development enhance future returns remain opportunities assets. are projects redevelopment our within We for and to existing particularly These the success value as position conditions evolve. we as drive will We meaningful our in portfolio, unlock opportunities our to market
will I call the now to Matt. turn
