morning, everyone. good Thanks, David, and
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all to on prayers to business having little life-altering to frontline the decisions, make are leaders, out Our moment's governmental, difficult of supporting most go notice with whom often continue healthcare, a information. very to workers,
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was adviser external first goal We significant one The on of major with JCAP. a internalization accomplishments JCAP quarter the February accomplished for Advisors, XX. many of our
units million in of combined Following shares approximately founder, stock insiders, -- and collectively operating approximately and own our transaction, X.X shares partnership that JCAP of approximately outstanding our units. is or which including XX.X%
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the acquired most We quarter first Furthermore, the acquisitive completed the in developers' company's self-storage interests we quarter. history. properties in during nine
had this strong earlier track these is plan, of in development financed of facilities financed. executing original cycle. we our to outright continuation And the the a All record our properties on we the vast own majority of business of
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completed XX%. this an And weekend for at and the occupancy as of of business XX are of we've average open financed developments self-storage XX
quarter Lastly, expectations. our that our for before expectations, operating fair income in owned resulting properties marks NOI exceeded significantly the wholly exceeded and revenue value
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by team throughout work date home so. to On our did the kept to we front, healthy pandemic before most businesses entire the from encouraging teammates defensive
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adjustments we of such open finally, projects current that for arms feasible We property values those we -- don't projects. economically which projects And but our got no development reunderwrote potential those the quickly wholly longer the operating, all had agreed that of most not partners our on we that rational the own. then and fair five to we forgo and pandemic investments our We We information around those long-term for in effect had the investments are the the investments we and that we reunderwrite determined were on to those based begun. investment. construction developer yet had of queue with made
what partners, to venture to offensive we value. industry disruption uncertainty. players corner. with On to enhance developer around the that properties buyout -- opportunistic has the portfolio that's believe finally, shareholder ways continue our will the This the robust form to leveraging And in some market the intend that be acquisition offense we and notwithstanding be will other of a of up front, by best-of-class acquire to joint and cycle we efforts in be a stepping JCAP's believe entailed partner could accelerating
of beyond. began than times which short downturn time over dealt any which We lost of unemployment managers in demand predict remain we're negatively virus climb. expect it continues particularly operating will the results many going business, this virus. drivers operating the have and which many our and to lifetimes to lives when to economic While at by forward worse we homes to things have lot believe ability of businesses control somewhat address that common difficult their our balance response since the those remain economic The because our beared governmental is effect to doing most the the with the and been we have pandemic of and a perhaps and dramatic of to fundamentals, closed results the so and by some our has extent people in in all all right impact year us the looked on our the level
is elevated supply the of a the fact some While in unfortunate hit is enough, that has the period pandemic during the blow. sharpened economic markets fallout
during assumptions a supply As in period reflected the in rates occurring elevated we our to periods XXXX fair value rental marks for season. due longer of this potentially lower pandemic rental the short-term interrupting also and and quarter, built lease-up
mark with We the in markets best the value our of capabilities in underlying portfolio in and of performance some of viewed fair a in in We assets management of a respect self-storage confidence properties. as be strategy Gen-V no longer-term business confident in XXXX delivered entered the third-party portfolio or best-in-class and our loss of self-storage recently in remain Our managers. the country. brands should our
that, results With to Jonathan Jonathan? to transactional review things operating turn and property over I'll activity.
