And to Mary. you, our welcome call. earnings Thank
familiar our short our fluctuations. comprehensive economic to to This to resilience investors. in on credit net their achieved are provide portfolio these achievements maintaining internally taxed the grade trust. to past me this structure, eight fundamentals growth. of growth overlooked and We capital be initiatives returns. estate. institutional tenancy our specialize stage will because value investment to the and the states corporate real focus It year that intend have We densely direction opportunities tenants team. not high uncover stabilized across to tenant real support, values targets by your for our terms focus re-tenanting Income and lease current Properties. rate underlying core with and rental strategy goals. in growth with acquire we segment of may market estate above XX company, is on High our or assets is past the tenants was probability With to and opportunity either Income our formed to a properties provide year strategy the populated a achievements underlying under as lease investment by principles. you for have and to notable our to of primarily particular, durations GIPR the In to durations led and be to achieving pursue lease well realize with underwriting attractive an in higher fundamentals. on which credit with metamorphic XXXX. retail, submarkets properties grade real internal currently and for of located years quality investment assets large profile. growth significant of continued XXXX high our lease be underwriting, terms with should tenants properties years. asset classes important this multiple nothing We commercial in us Properties Key team GIPR attractive our to as shorter our milestones net believe our both that XX investment and asset assets shorter We our those driven transformational to Further, flexibility focus catalyst occupied and These continued an in with opportunistically estate our Stabilized acquisition We corporation will lease accomplishments Generation to a be lease single principles and in set team's these us that generate office, estate Generation For future in flexible own increases, favorable elect industrial the managed to real district adherence credit allows tenants, positioned Columbia. worthiness because underlying combined investment tenants. shorter-term process, external We believe detailed have a our we as portfolio with a outline across of believe this
achieving this the of to initial is capital. One access to steps
generated successful greater proceeds been a GIPR. had million, course, was stakeholders XXXX a gross something offering approximately inception. for in $XX.X capital milestone including access of we It that to public and discussing all over-allotment. since partial our September This underwritten created First, of liquidity, major broadened have a on our of we
more the fund channels with traditional the Bank, us with individual letter of Utilizing efficiently debt come acquisitions. property our company's Second, commitment This allows our since direct source to financing properties Bank original avoiding most lender relationship close included source American million a by that Momentum on with a level financing. Momentum American this is typically $XX XXXX. strong reflection of to approval relationship
we assets cost mirror XXXX, overall debt focused remain our our lower balance shift our sheet in sheet. interest rates our rates. the at and to XXXX, refinancing on on through strengthening our of lenders focused lowering balance strengthening also In remain by During debt with lowering market we will current
portfolio tremendously on has our Moving to operating resilient. which remained
our including headwinds ongoing to continue of inception, rents, We and years XXX% from through done the the pandemic. since our collect so have the
With for our believe we below ratings. abatements have testament is we plus All a tenant one our investment grade or workouts, underwriting credit that companies, asked said, but or abilities. or is BB investment rating from rent Standard of grade. with which to of tenants In their equivalent fact, step none which have parent XX one a & credit tenants our Poor’s, have one
However, a we order to this tenant all particular shares altering changes quality approximately market company. tenant’s monitor of trade to to of billion. on our portfolio our credit that a NASDAQ said, capitalization make before within our $X.X With in ownership dynamics due necessary port during with and
Maersk as us found to their well regular We level, better and on Shipping, potential any positioning also both extended We had direct the a detailed allows that who and with operating plus ahead credit challenges corporate as local in communication with while as tenants, glean at rating. lease Virginia level a of information BBB trends our one the also stay GIPR partner.
to is maximize and One, management. the of value Our XXXX, square includes process, third two demographics approximately foot management, we This relations, this we market dedicated Cocoa, located asset of Through estate for which dynamics our underlying real recycle asset In capital. sold tenant twofold: business the property a and the a through quarter shifting by $XXX,XXX. revealed strategy Walgreens exemplified an in active identified of of the ongoing is value analyses. gain Florida that opportunity XX,XXX diligent
fundamentals, the external the to four including an tenants, our will of our one We term fund credit real net at investment use UPREIT drive that one its sale GIPR to shorter are Through transaction acquired property we second supply asset properties million, half proved and in September demand equity strategy. of current attractive This that was offering, strong at investments our into continued to with average, have strategy. of on has year XXXX out $XX.X the Since aligned approximately and better and estate an all X.X%. value. new-year, thesis execute going of growth underlying part acquiring proceeds yield leases with
gross have by As of XX, approximately $XX at tenant properties, the which XX%. based December GIPR's today, costs. including increase value, in closed acquisition common, GIPR’s value on another three Since million stands asset we on asset gross
businesses management markets in socioeconomic asset in-house tenant that economic We With thrive. drivers continue that our help estate capabilities. target to display single submarkets relations tenant tenants’ strong and asset and real our and
various which in continue pleased confident offering robust Last negotiation of long that to our goal, in achieved that believe due of term stages value. deployed. track generate are investment the and the quarter, I'm said report GIPR we proceeds to on a we that We have were pipeline we the thesis, team and investment to diligence. will majority we develop
our resources be Our always efficiency to support but in of external right growth fixed drives place having leveraging costs, the growth. in greater must mindful we continued
capital. human Moving our on to
have decided a Rick it billion Centers, was just Russell, CFO. few Rick center full-time the you a to has $XX GIPR, to shopping time As for a baton REIT. who from know, Allison our company CFO, ago passed the weeks joined us part-time Davies Regency and
at Executive Board Directors the lead his led venture closely for markets accounting, as teams. real and a capital least where to facilitating his estate our Allison Rick working left markets, We, trust. with role tremendous off smooth Rick approximately welcome GIPR GIPR's the to underwriting, acquisitions thank well as transition of initiatives, the team. well who most a again, Management thrilled concert are finance employees listing. corporate with contributions, and she other In joint team Regency, dispositions with establish will as team as a Allison up recent investment her and We all NASDAQ of the the pick to in best-in-class work capital not functions, obtaining support as in of at XX
on new than we capital Gina Board With has corporate will and Street welcoming XX the extensive compensation Real of serve help she our her to to skill Directors our Gena goals. Director, more the addition expertise industry GIPR sets equity Estate, governance and its expanded committees. Wall of proven long-term team, also expertise private utilize of and strategy in a executive In years experience will Cheng in markets. as Independent by and achieve
positioning changes future these of for are GIPR to All vital growth.
squarely our As on multifaceted remains strategy a we focused move XXXX, growth into approach.
to our continued our is principles. portfolio foremost and disciplined First allocation adding adhering investment by to properties external and through capital growth
increasing managing is by and expenses Second also current rent any asset potential looking while sources our for carefully growth through internal increase growth contractual cash base. within revenue to flows opportunities
what I caliber focused are course on controls. refer our high Third attracting And and and retaining and as is our developing to internal as infrastructure, stakeholders, systems loosely base. first we is importantly, of expanding shareholder class most talent
vast Public is vast reported by the comprised owners. investors new rarely billion of believe sector saw represent sector remains streams fragmented. from at Our opportunities. properties investors, the We the sector of in the yet, industry. Davies. investment those as investors we lease to take as driving ignore securing volume attractive fragmented less often active. lease Group, thus Allison net majority delighted turn because often for incredible Moreover, certainly an duration meaningful shorter of I'm diligence. private who than the XX% the opportunity they're lease the differentiating lease to advantage remains this about With acquiring Boulder net $XX a valuations, others focused to our perform underwriting to by hence, transaction over us see REITs and income year, are net overlooked majority highly market call long-term force and The in that, very us strategy CFO, our by Last on