covering by shop you, quarter. first trends the Thank I'll our Debbie. in start
continues and results, margin as points. growth to year-over-year expectations XXX expanded our SHOP deliver grew exceeding control. strong portfolio cost Our XX.X% with pricing basis SHOP by NOI driven exceptional power
the to attributable living led our U.S. biggest growth, way with to our in growth. Sunrise XX.X% the Atria strong Notably, legacy performance and with the assisted and communities contributor portfolios the being transition
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success. be continues driving force a to power Our behind our pricing
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of on spend which Moving labor, is expected. line with out as is expenses expectations. playing grew expenses. Operating to OpEx, is X% XX% Within which year-over-year, the in
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market, operational most drive positioned operators markets promising optimizing leveraging markets, by approach, this communities exceptional experiential best-in-class for by on when ahead our to and of strategy our performance. right we're operator analytics we've partnering our anchored right to been platform and and asset, carefully to Ventas is comes it curve the committed which portfolio to are operational executing right success approach, with within identifying insights select Through improvement the our informed investments those OI, data At by data staying specific for and the capital insights. through selecting well Ventas, improvements and right
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XX% our portfolio growth of at and better an even growth base. strong transition on had XX% portfolio NOI delivered legacy rate lower a A NOI
in by growth Care Life are paying assets and and approach that growth. transition is strategic off Notably, selecting right numerous Priority the of for backed which group and Discovery Ventas among investments, NOI CapEx outstanding methodology the operators and meticulous generating first OI quarter. is the our Dallas Our to Senior the operators significantly in a Living, the contributed
a quarter operators These creation existing assisted tight thus in double-click our future living across far the group the discovery of transitioned of exciting. is in I'll We communities OI. an value markets. backed on for located of are example by XXXX. are communities fourth all growth And Ventas truly XX them and of geographic the prospects area this to communities in Discovery
fourth have to also a by forward. in many in should this repositioning communities benefited of turnaround When moving basis benefit as the operational XX from XXXX, XXXX. NOI their comparing CapEx achieved multiples We of far. NOI-generating the We planned successful occupancy XXXX portfolio the completed forward performance the these first XX thus projects XXX portfolio quarter in look more grew growth, to of of and their points and quarter strong from markets
the invested regional in similar results. great right and operators in These right are focus an operator ensure Priory OI assets portfolios. of markets Sedaris Life results collaboration with the We've in for excellent the positioned with strong seen a success. examples We Ventas and are the with well delivering
a We've earnings in community-specific few our examples deck. also shared
we NOI-generating operational and underway communities in position to over the portfolio, significantly as enhance announce, market our are We the will pleased of expected, SHOP terms that XXX are rate time. our over CapEx of in combined delivering already projects which well with occupancy when -- improvements are that
attractive seeing which to in and the excellent we our exceptional and of already commitment near delivering effectiveness a We planned is have are returns, opportunities our testament more future. strategy value the early to creation,
potential recovery believe right the we NOI margin. extraordinary when Debbie have strategic mentioned over billion occupancy drive $X to that we a focus, the XX% in generate NOI opportunity the an SHOP in and portfolio and that the with portfolio XX% investments to reaches With
potential, work success. far. for done SHOP made run still the our to realize In of this is year, continuing and this annualized progress portfolio of the in $XXX pleased rate we're with trajectory NOI there first million, so we've was a to While the growth be quarter
year full XX% our are Looking in of reaffirming SHOP growth guidance pool. ahead, same-store XX% year-over-year NOI our we to
an and a muted the occupancy year, demographic We expect aging ramp supply. supported throughout significant by new accelerating
now. approach As starts key selling the which we season,
are volume We by encouraged to off and year-to-date strong good start. is a very lead the quarter
investment comment activity. I'll on Now
active, below relatively commanding still replacement low select group high-quality, stable X%. pipeline team our X% those investments. remains and rates potential costs cap and assets evaluating to are potential growth of Our is trading a with of
rising the reflecting seeing of are fully cost We disconnects is as asset pricing capital. market not
examples Class We are, especially A recent housing. is senior in tightening, bid-ask however, seeing spread where the
high-quality, are capital We generating use prioritizing NOI remains as and SHOP the continue smaller, high-performing drive CapEx we of our recovery. relationship-oriented to best highest transactions.
I'll that, to over hand With Bob.
