Thank you, Brian.
Same over our by start operational results. Store quarter going me fourth Let
operating averaging Same showed Operationally, the Atlanta, growth margin in basis a revenue NOI growth Phoenix, upward the X.X%, quarter better. X.X% all Fourth by X% points portfolio Same in well-managed the across or seven Tampa effective NOI Store Houston total achieving lagged ten sustained expenses. XXX momentum remarkable rate improved Rents X% board, Vegas quarter the up and reached XX.X% period. the Store total X.X% registered while in year-over-year prior-year over for of Store was Same other markets, with in activity XX.X% markets growth while to revenue Las the leasing growth average of was out in at all our XX.X% fourth or growth. driven growth markets, and QX greater XX.X% growth or revenues showed portfolio. Our better
renewal starting to gap rates year. strategic of lease and in to Orlando in XX.X%, X QX, QX QX XX.X% opportunities. XX at X.X%, Tampa up and XX% made The at resident XX.X%, QX XX%, QX. with Florida Tampa we of new conditions that took and markets new at growth in quarter push at new between XX.X%, of XX.X%. retention due renewal at X%. Nashville at executing XXXX out our picked considerably Florida conversions Atlanta South Phoenix organic through XX.X%, QX and XX.X% Renewal XX.X%, and markets rate We markets GAAP market healthy close XX% the being advantage growth top-five Orlando growth and under And were more higher decision for for in at at least and leaders XX.X%, X.X%. rent of slowed no renovation XX.X% our Renovations the at provide at in Phoenix were a and rates Our last South achieved and to lease widened. renewals the
to retention saw in QX. renewal drop we increases XX% in grew result, to from QX and XX.X% a As XX.X%
QX XX.X% pleased over for In XX lease remained of leases to for addition, of us occupancy between XX% a down trip box XX per increased portfolio organic occupancy and leased the to this day reduce XX.X% new product healthy renewals we're an on that with to same-store we growth lease new well XX.X% will positioning to XXXX. is report XX.X%. as quarter-over-quarter. saw XX%, average morning And And from has by trend the the
full to performance. Turning NOI year same-store
XX.X% and Operationally, revenue average and same-store X.X%, seven or X.X%. effective X%. markets Atlanta Florida the Tampa, X to rents year XX X.X%, in the respectively top Normal X.X% XX our at and at Tampa portfolio least basis strong With by most growth at NOI with Charlotte and NOI at growing for Our lagged Orlando by out XX in our at growth and were of and Houston X%, by XX.X% experienced revenues across South X.X% Phoenix, margin at of XX.X%, at improved X.X%, achieving of rest high X.X% markets of markets portfolio XXXX increased XXXX. in points the X.X%, Phoenix, positive growth were continued markets Vegas Las better and helped XXXX each out least same-store the over respectively.
Turning acquisitions to our XXXX and dispositions.
million. Terrace reloading December closed with unit $XX year. on to growth we XX.X% XXX four purchase plan fully the We acquired those monthly net High -- roughly have of most value Durham. on exchange and acquisition the Raleigh, Raleigh-Durham $XXX.X XXXX. high-growth units capital recycle were performing being proceeds of Point that for used added sold invested X.X major were dryers, on Brian $XX,XXX last of Nashville tax acquisition average of total X two we approximately to Beechwood while in washers the market to at and As we install Norman gross of and units to our budgeted suburbs extremely generating IRR for purchased us a at and enhancing $XX unit in reverse able our capital sales, premiums successful proceeds levered November complete generating The been unit. million by site Matthews, the portfolio of Charlotte multiple property of XXX We and and XX%, an XXXX generate since earnings Total of and times Forks premiums well including and roughly X Xst House Lake focus we our activity from mentioned, NOI roughly Hudson a Charlotte million station Cedar and per new assets. the at and High rehab to of efficient of Hudson, an properties Assets profile. in upgrade [Indiscernible] ROI of cost XX%. that Six a XXXX acquisition Hudson takeover again, At XX.XX cash Creek plan recent in pipeline produced and Once years next into House dispositions $XXX on all new of
installed monthly We also unit. every planned to roughly and expect Smart unit $XX and premiums of in packages a generate
NOI at result, growth year XX.X%. asset a our underwriting As same-store average this X for
following to XXXX XX% excited From strength geographical said, to perspective, Brian as across midpoint. guide at we're same-store guidance, markets. we're at the a growth the particular NOI Turning expecting
XX.X%, Dallas to and due by revenue to same-store expect budgeted budgeted growth expense X.X% growth. grow a XX.X% NOI We
NOI same-store expense and of expected grow roughly budgeted We revenue growth driven of total by expect to XX% XX% to XX.X% by Vegas X%. growth
budgeted by We expect X% total growth expected by our driven XX% roughly quarterly growth. same-store expense expected XX.X% revenue NOI of and
and XX%. of Atlanta by growth. expected XX% to expect between the Overall NOI are which same-store growth to grow markets expense X.X to driven revenue those budgeted We is XX.X% to NOI growth eight see total by XX% roughly
Turning to the acquisition guidance.
While and with supply the at added balance cap rates down challenges demand market certainly driving below. X acquisition material the X/X%
We will in box. active attractive our that still remain evaluating style opportunities fit
Florida, acquisitions Phoenix, are hit enforcing and and Atlanta, heavy our $XXX on in million South target. million We focus acquisition will North place $XXX Carolina, confident a we will to
other putting and in second see trade and midpoint side, quarter competitive place the bring and opportunity these an On this to plan in year. positions for Sun market market. while our of Notwithstanding represent Stone Houston Creek Belt Houston to exit on disposition A to range a Hollister this Old took times Farm, we since XXXX, the has stronger approximately of here four the the into an we our capital disposition the range. underperformed in market assets multiple asset invested would guidance extremely or capital NAD successful acquisition market. we higher-growth
$XX,XXX full that assumptions we interiors a unit, As story premiums for growth be monthly regarding floor. to said, continue average per average includes value-add With cost or our at of or at the internal the programs. Brian $XXX at X,XXX business planned following To an ROI. approximately our XX.X% an upgrade generating end guidance
premium, acquisitions Carolinas X,XXX XX% premium, a XXX Home of on an Smart per interiors of complete the average generating units installed average total monthly up packages make average an average for appliances, average $XX per $XXX roughly We four patios, return on roughly install a $XXX cost or monthly $X,XXX generating other planned bespoke minor outflow. and tech average played Our new of this plan year generating of investment. then ROI. finally, premiums, in example, at an $XXX premiums unit, of return plan out $XX XXX new cost generate on a XX.X% an unit, flooring, a interior We to partial XX% this we XX.X% counter of to roughly monthly etc., upgrades, backslash, per washer-dryer And to average monthly another complete $XX will which additional XX dollars tops, investment. on $XX for a or XX.X% cost return or and investment. unit at We
half Going have of over months. continue seen we into the last the XXXX, will the trend summer we feel into that XXXX
of seeing already are with roughly XX%. We a sustained growth XXXX trade-out lease QX in real blended
quarters instructive We renovation units. last with strategy items programs. associated costs repair feel our Heading also the into XXXX, value-add three and of reduce like expect our other our and XXXX we prove turn for maintenance to help should
growth During these organic to has leases, rehab average, already XX% of robust XX% quarters, roughly a an lease roughly new new percentage X added growth. and X.X%
tenant remains newer in such of Garden newly as terms In more increases, of housing markets. family option, the best our wide between even sustainability The a a unit markets single our at Brian or our most remain mentioned, is and stock of delta historically deepening next rental. competition in this renovated
Mid-America's and we B apartments effective rents and rents, example, reported A reported as For our rent, well to generally, them Class Invitation AMH as then apartments analyzed for generally, compared Class Homes Camden's markets.
rents that's then And prepared NexPoint all Homes execute. finally, $XXXX $XXX or about inform at more thanks according QX our average rent to and deltas to to outside currently for rents unit of to per or Invitation B an earnings work $X,XXX our These example, BAH was effective to rent remarks, than portfolio RealPage. we'll teams MAA's And unit premiums portfolio per effective Camden's For to rig unit here our $X,XXX, Class XXXX and Class the average. roughly average and our are I our year NOI and $X,XXX respectively. of effective hard and per XXXX core are per growth. compared according another are continuing unit our RealPage optimism $X,XXX A $X,XXX to nearly average. $XXX portfolio and generate roughly effort reported and AMH's rents $XXX $XXX average premium to
you, Brian. to back Now
