good sheet followed our on my financial capital of and XXXX of markets balance our guidance. same-property an our Richard, a with before of discussion by by I’ll my begin providing then Thanks, everyone. activity results, closing morning, our to remarks I’ll remarks including overview update move an performance,
quick transaction I XX. just Before closed a we on the reminder that begin, June TIER
closing, reverse the second and XXX.X In to there’s XXX.X numbers end share units our second share outstanding one-for-four parts, including quarter. we only our result, a million during second of split. TIER we units quarter numbers, quarter, average days share the of and outstanding Coincident per of so I clear, had debt. include TIER quarter this weighted split. reflect moving know count, and shares million the completed a just As a lot at unit second be the and reverse XX average all with stock also weighted
growth. Richard’s XX% quarter share, Colin the solid per and was we generation up second portfolio, NOI strong metrics over transaction X.X% very year-over-year the from on X.X% revenue costs, outstanding, X.X% increased were cash many spreads Leasing leasing tell that strong. driven a FFO during for a was were same-property and our last was could positive and XXth Within the excluding growth consecutive by and was you on $X.XX and TIER comments, expense second quarter. year-over-year important velocity same-property fronts. you cash operating As NOI quarter At year, both it focus up
Combined of This result, marks And that second expectations. a we specifics yet exceeded quarter, raising row raised midpoint same-property our basis have year cash growth full projection provide time, growth quarter we last basis of by beginning with to XXXX midpoint are the cash a – NOI points same-property increase this later. our the XX again, XXX point now the since in NOI our NOI I’ll points. on the has basis this our XXX of as the year. by
$XXX TIER private a Soon in million through placement. issued we debt after the closing, unsecured
from to was this outstanding tranches, used weighted nine their and at issuance million term maturity well the The par XX average Proceeds with of as credit all facility as years, eight, TIER’s $XXX in priced loans off of coupon outstanding issuance pay were comprised X.XX%. balance. three
We a nonrecourse with million associated mortgage $XX also office from in Legacy asset Union a January the X.XX% one Dallas. TIER in is coupon matures that note This with assumed XXXX.
Turning balance sheet. the to
net-debt-to-EBITDA Our recorded times. quarter financial the is supplement ratio second X.X in
reflect However, this full the doesn’t story.
of transactions full middle a data ratio. timing contrast, resolve I This June this mentioned when itself of of will in in and XX only are there’s quarter XX. days This will there June, XXX% the the second TIER numbers. TIER the debt we EBITDA TIER quarter associated temporarily mismatch skews earlier, quarter as As closed we third our in our In numbers. in of TIER have the of
Please per currently XXXX in guidance. with I’ll up excludes FFO the $X.XX cost range We the this associated my by XXXX transaction. the guidance of wrap comments today FFO our $X.XX to anticipate share. updating closing TIER note,
except assumptions All guidance First, the we to April are provided for from basis. growth a XX same-property unchanged year-over-year we X.XX% of this of behind X.XX% on NOI the guidance following: the on cash anticipate
to This from is guidance previous of up a X% X%.
due million for land sale a on, line. from a the to sale in up Moving roads Tempe million, the a gain to of to widen on new street anticipate $XX.X city of gain we $XX.X curb on recognized land
of to fee due at $XX other a anticipate income from Tower to increase $XX with previous and million, we the $XX termination million of fees Next, million in an connection million in $XX lease. new Hearst range up BB&T to
$XX million of million. million from $XX.X $XX.X range the rental from $XX of revenue administrative million interest and the million, our anticipate of expenses net We of expenses, This million, $XX.X $X.X anticipate and and million to previous million. other of million between previous straight-line of $XX.X $XX general $XX.X million is of $XX.X anticipate and up million. to We GAAP million, We range to net capitalized million to up to of previous guidance up $XX.X $XX.X from capitalized interest, salaries. $XX
of million, million revenue mid-June. are from these the We closing rental range of million. anticipate the below up to in All market $XX TIER driven $X.X changes previous of between the $X.X $XX above to transaction by and million
a Colin during transactions discussed of that XXXX incorporate new Finally, the couple your half projections. property into you should second of
the both XX% partners’ assets the transaction in our at interest entered This million. investment of values contract front, Terminus’ $XXX on into First, to acquire a we’ve Terminus.
partner’s As approximately total million. a which Terminus debt, assume balance of has outstanding transaction, this of our part we will $XXX in interest the currently mortgage
us Our properties gain and purchase But impact But in no calendar recognizing this We both numbers. closing represents please the a gain value fourth results XXXX. approximately consolidation these of of a will note, transaction two the in in stepped-up these fair this this have basis FFO. will on anticipate early trigger at year transaction on XX% quarter.
in quarter have classified On as Jersey commenced asset the disposition statements. New process the second front, financial we selling our Woodcrest have it for and sale of held our in
this market. achieve We simply, need selling a and Quite anticipate asset targeted proceeds leverage closing Legacy this disposition this noncore in to our aren’t in don’t is TIER asset we noncore delever, the quarter. fourth We to late levels. the a
transaction, assumption Some them the were and some of driven change just through TIER the you walked I of not. by are
Specifically, same-property transactions. continues and outside TIER, leasing several to we’ve our and exceed of positive announced growth investment expectations,
However, our we stocks we isolate have $X.XX back closed a equates compare it’s share its impact or TIER, transaction original to important to think March expectations TIER $X.XX share, that announced when reduced for XXXX expectations in we earnings deal. current now our and the we reverse and March, between adjusting split. In with FFO the projected per by after which $X.XX to $X.XX the
the reduction We of the that for line middle we we implications approximately the or after an on in $X.XX basis, in apples-to-apples will currently project are be squarely in transaction the $X.XX per share the $X.XX split, of right expectations. our announced differently, financial the are reverse TIER March of in overall, the middle Said adjusting and our range with original range.
turn back the the me to With that, let call operator. over
