you, Thank Richard.
Mike and to XXXX, I'd full quarter like and multi-family, to for For our specifically then hospitality of outlook market office. the turn this remarks prepared fourth and on perspectives of a summary year our types, activity morning. provide property certain investing and
During executed X.X XXXX, XXX year million the of respectively, fourth and in we by further and type and quarter portfolio property originations billion full our while diversifying geography.
sciences, Our of rate of credit weighted and originations and investments, floating -- a XXX collateralized property all fourth spread basis with by three points quarter senior loans average XX%. average were multi-family transitional types LTV industrial across over weighted a life
was in coming quarter the muted, at for activity Repayment fairly $XX million.
continue we right of trend their infusions. higher exercise to additional the and as a equity environment, as As borrowers expect result this of rate extensions protect with interest investments
from year billion. $X.X average based CMTG'S portfolio on average increased multi-family end our XX, at condo. XX% X% value and for at office, a weighted XXXX quarter end, XX% we and our over while had quarter Notably, to in XXXX, also portfolio decreasing the sale increased all December weighted exposure yield XX%. LTV of carrying to of year At exposure to a X.X% land
we by expanding markets mentioned, also while our growth several footprint our markets. in entering national presence high expanding Richard As our geographic new by diversification enhanced
drove XXXX. at higher The down X.X% New a York as increase activity XXXX, York received New the we the At of yields organically interest percentage from York portfolio and period. during primarily During in of of loan decreased end at as to New the result end robust our repayments end XXXX at XX% year XX% the environment a from December meaningfully portfolio the year year rate year, represented origination portfolio X.X% XX, XXXX.
to like now provide replacement operating expenses would rate borrowers replenishing caps. continue in thoughts to interest year. I coming for by and our interest market their out pocket, debt reserves, shortfalls, funding support the properties We've of service seen color purchasing funding
largest mentioned, representing outlook industry, the of at the exposure with approaching continues the real to and end. Multifamily However, the given be coming Richard economic by property type, as portfolio for caution. we XX% year are year expectations estate our
In rent the on trade-outs positive strong renewals. seeing growth and we're new portfolio, and generally leases on occupancy
also the starting years. past rates see the However, to growth, several growth by end the softening industry we rent reported over of are record marking
anticipate line markets compete to remain new absorb as and the expensive of While market, more expect we strong do face rental demand normalize home ownership retain residents supply. to owners top the we to in a see
to of to this relative fundamentals asset outperform will underlying environment. the other continue generally sector recessionary believe classes We in a
asset of borrowers with as focused in provide class interest negative the rate call their not as contend alternative to has for we're desire been However, will rising on multifamily equity. Jai our on the well. on and protect are far, Thus encouraged the by loans the one protect equity, to we've elected our later borrowers sponsor this leverage of keenly color environment. the their where but wherewithal prepared
sharp benefited income consumer consumers of XX% our year, represented hospitality demand end and rebound our Throughout as and hotel industry out strike COVID. look from to at to we portfolio, a the discretionary their the XXXX. pragmatic. Turning leisure and hospitality record to into portfolio travel and year from goods coming to occupancy of we year, Today, we see continued But setting and when continue markets [Cal] many are out a ADRs seasonality. coming taking the redirected
and travel we on our during during businesses behave this pulled session, economic cycle. historically and have expect spending related they'll Consumers back similarly
demand a and impact be budgets. the tighten transient companies broader demand However, is travel as group corporate to likely reduced
asset of that a line. potential costs than will has team others. anticipate require and year softening Additionally, been hospitality continued monitoring investments management rising our loans certain focus costs, impacting In the we in demand our labor expect collateralized as elevated keen we to and our assets, see by more unfolds, bottom portfolio anticipation carefully the
be depth sector one. if a the is would dependent Ultimately, duration hospitality recession the there of highly on and
XX% use including at office, the XX% of allocation only terms office XXXX, within portfolio In of mixed year-end our comprised assets. office
future. While a much remains work around uncertainty bit, prevalence theme it be to persistent of the the home waning a of sector's driving seems the from
additional make investing location, been borrower's in their of for points. light on about outcomes we to properties, of wide rate capital are based demand of withstand In On uncertainty. a asset their variety dependent borrowers In demand and capital, period office cost and are ability in bright office particular have each note, data protect seen higher protracted number there the leasing source outperforming types and decisions anticipate to sector. said, of their required That York a reduced of assets certain office has of strong equity. to quality a on City in environment, positive a New spots this
our will demand space collateral within protect In elected has quality its Jai an the component conclusion asset the the and mixed-use deep us on is our reach located. where that relationships, believe office their the with one expertise We where to coupled loans respond our to the addition to asset management that whatever position submarkets to borrower structure not of our industry for we loans borrowers location team, provide our some equity. relationships color way broader and sponsor in exercises. has decision-making of well
so our We are challenges deliver facing our on for focused upcoming the outcomes borrowers very years. that positive can we shareholders the in are
over I'd call now turn like to to the Jai.
