Thanks, Brian.
growth Same-store respectively. Worth strong over Let least X.X% same-store third $X,XXX growth, and rents revenue the the and expense unit me our Florida, were revenues Seven X.X%, welcome X.X% again at year-over-year. our our rental moderation X.X% at averaged of up Raleigh was quarter the XX.X%, results. at we're period, XX had growth, month, while year-over-year. the the South growth. South led by X.X% and way markets per showing X.X% start with and in Same-store X% X.X% at same-store X.X% per growth Florida ended Dallas-Fort Tampa effective quarter up for markets also report quarter. pleased field markets Florida at And Total going out pacing some Orlando. also the for for respectively, to operational
down Third XX operating were expenses quarter basis year-over-year. same-store points
an year. forecast year-over-year. down in booked true-ups comp real growth was basis and XXXX. X.X% estate reduction Year-to-date, XX expense prior Real was period, points of growth moderated, from respectively. our tax lower off down the than a XX.X% X.X% a and was Payroll post-COVID in taxes growth the R&M to QX mere elevated same-store estate in QX, X% QX, to overall also have tax reflect in QX for and
in growth expense at as Insurance a after QX stabilized renewal successful QX X% well. negotiation
improved healthy operate On or quarter-over-quarter strong NOI continue growth increased, teams Nominal of And Florida, NOI achieved X.X% growth of a same-store also more third X.X%, achieved the X quarter tone NOI as efficiently. XX.X%. setting our year-over-year mentioned, again, the same-store NOI our South to side, at with greater, portfolio the as while to margin NOI XX markets Brian of XX.X%.
and performance strategy. Turning to operating the go-forward
X.X% a per year-over-year, unit basis. or at QX leases on increase negative rent the lease-over-lease a did monthly effective average X.X% for new $XX our quarter per unit, ended turn $X,XXX per unit by While
supply, downward now. fraud for As total other Sun Belt peers reported on and pressure and are ] evictions skips [ financial occupancy putting new
of given renters more as heavy environment, B strong product. given interest and consumers to prioritizing revenues moderate. Class demanding to do housing across this interest to build And On defensive in the by abate the rate hikes. upgrade owners year expecting Class Class inflation the as the the product their front, for even occupancy C job gains and deliveries Class product, use start the options strategies, operating next rate for expect end and board, half A their We new are their and being even Class are merchant supply B wage to concessions the of migrate B awaiting market concessions both renters first and over
afford XX.X% to to community. Class to an can B continued We power sustained migration and total Sun net U.S. live Belt NXRT pricing see the return that in by assets, into households the fact of expect
most of years next on Perhaps is X%. front, over growth the than NXRT's importantly, less XX supply XX in submarkets, the X supply
full have While forecasted notable difficult year in earlier to projection due year, in financing been XX% likely XXXX most the deliveries environment. is down total XXXX, RealPage's the from
we'll to get in Charlotte I'll submarkets the a [ play X heavy dispositions In exiting supply and be the few X minute. markets after -- of addition, ]
a remain we in As problem us, key and evictions through noted for as Belt-focused and here is by reported Las The other skips nonrefundable orders broadly Creek, REITs, last deposit. their Charlotte of core X has are notably contract XX% has with for that news started most million asset, Atlanta, Las quarter as a under is Sun over Vegas. few to of good And Vegas. and Charlotte, attributable Atlanta markets, as work $X.X sell Timber the to to backlogs evictions money which
momentary the cross skips closing occupancy, continue we qualified these currents, Given will to and on back prioritizing on and traffic. targeting evictions door focus
XX%, leased CAGRing XX% view effective consecutive The with the growth these it's couple eighth rent the high our recommend coupled in news growth, quarter, the the continued maneuvers, trend be, a same-store of we enter end earnings portfolio payout informed we 'XX our we estimates. This on year and dividend is in X.X%, an our been to Board. of XXXX winter think XX% good XXXX, of we successful with XX-day and at XX.XX% on preliminary The reaccelerates of If highest FFO digits. and months. same-store we of focus now increase a the as this single healthy in for are sub-XX% core pending to do believe will NOI growth deleveraging, with ratio occupancy the and close will X-year quarters of is registered morning also growth as is as our the
also at from to a a when time stems Our there's it. of our confidence our in liquidity lot still not find strategy ability
is Given prepayable liquid. very our and these growing, fully NOIs our are assets debt are still
is maximum maintaining gains shareholders profile. focus large and NOI increasing management a those our as job targeted value-add preserving our on through maintain liquidity and campaigns, to Our
take So when can market, advantage we does the of liquidity to it. return
proceeds acquisitions, $XX million. to the of during to multiple XX% reduce used for generated example, credit sales liquidate able net X.X% rate. million sale Silverbrook, The on levered to X.XXx we invested the We X cap balance IRR of $XX million company's quarter, $XX.X first For on net were Silverbrook the the facility capital. proceeds, of a at a drawn
proceeds a is to and $XX in nonrefundable earlier, invested million levered would capital. Creek at ] a generate Timber this a [ on net X.Xx for contract money sale million sale Charlotte alluded earnest with which I million, $XX.X XX% deposit. from also under As $X.X Estimated are IRR multiple
this We occur sale expect to QX. in
Finally, Farm year. we Old in also sell Houston expect to this
recall, April. you followed As may a asset in this contract
delever Old Brian Timber the to us and allow as retire We on hedged under will remaining generate positioning The and sale million. asset as $XX IRR mentioned, balance The the contract is net X.Xx have now forecasted dispositions found for and replacement into us, who invested credit purchase Creek Farm $XXX capital. to a a further fully balance buyer XX% million proceeds XXXX. facility going at a levered the is multiple on of to the sheet,
for I'd thank challenging to you, I like to Back to prepared teams execute all this our Brian. have remarks. through continuing environment. That's for
