of of Thank you, on year the surpassing favorable high-quality full cost a acquire Pete. to pipeline real Relationships year-to-date, our the capitalized guidance. driving capital already deal flow remains strong. billion estate We and are $X.X
a King Boston as our campus XXX,XXX Lexington. in suburb through Difficulty] property Innovation Life known Campus the Street, relationship we Science acquired with of Hartwell square core feet [Technical with
XXX% putting foot is is mark-to-market the is The location government-funded research million the of in sixes. rent it's rate with price lease occupied million, Purchase labs, a affiliated adjacent to which square a is average seven compelling, MIT. weighted with straight-line was $XXX campus the GAAP cap mid X.XX% and rate, park cap few campus The year term. cash linking
We've seen the Diego. benefit South and again in of time local San San scale and Francisco
campuses mass as We price well are with an with distinct quickly Boston chess their suite a feet. million to with for multiple meet evolve. science bigger tenant life X Having us aggregate allows demand sizes points square approaching critical and board three space businesses in as
raises, capital intend building outcomes our life clinical important driven constant three is in M&A a flexibility often in because activity. Debt to science by life markets. is science and change continue scale core We trial
acquired building development property located square science two XX,XXX Speaking of million. foot Mesa and successful Diego Sorrento on July, The critical we mass, a parcel. Directors we office $XX life own in our of campus, is submarket for San where Place buildings the a in
lab of life X%. square return achieve of XXXX acquired a to and A on the campus. convert We'll stabilized expect cost XXX,XXX in-place upon office foot Overtime, building a will roughly become expiration this to the science in leases Class
we now share. more San science cash the West acquisition [Technical $XXX Point stabilized X% South in and Difficulty] market closed for acquisition million on to center the Francisco. This the Coast are foot shore we than in where campus X A At million square Class square one at has Sierra feet Towers XXX,XXX number a June, at rate. cap the enjoy life
of delivered X.X% and in term, III mid million fully significant square equates underscores leased market $XX a the all the In XX produces is rent cost in to likely fair Phase the created and be III NOI we on San weighted the of X.X% Cove given cap lease Phase XXX,XXX rate would average year second return feet Francisco, value quarter, stabilized escalators. fours. a with The South
a relationship our the of expanded HCA medical system. to the with on XX% MSA. building Hospital [Technical will also million campus for-profit the agreement reached health the country's $XX of office in Tampa Hill building. lease develop We HCA, Difficulty] Oak premier
We now aggregate million in with stabilized way five new expect HCA. have to Difficulty] sixes. high with [Technical yield under of spend the $XXX developments
of see pipeline $XXX visible million per we HCA. MOB with development year of $XX forward, to new a Going million
Kansas Menorah $XX X.X% a augments City building same acquisition a footprint, MOBs Medical occupied. medical one located Properties XX,XXX for the hospital We as square of in an HCA's million, Center, acquired XXX% MOB own rate. the year are campus is which cash our on on Both foot already local office campus. cap the existing we also Midwest
San of to portfolio The Beach, and country. affluent be operator. in most the we're and come. [Technical announce Difficulty] housing Angeles, of developer in California-based San on premier Jose relationship and the average one less our excited old than and markets Huntington five a are an expansion located Oakmont years three close Senior asset to with is markets positioned their Francisco, local years in Properties should for Los well
The to the is downREIT acquisition mid assume the July of in million year-one in XX% seller just at total share for $XXX $XXX million in of or fives. consideration, secured over cash the cap per the issued we rate We closed $XX debt.
management built highly so We Oakmont, high closed strong alignment. million recently with quality incentivized all partnership agreement, in also properties $XXX has we California. Year-to-date, of negotiated acquisitions this a
outlook as including particular a The and well, for performance our core, we each Moving year or partner created or data strategic one housing, senior positioning reduce of competitive past driven to management, properties. assess a sell. asset maintain, the operating demand, every for in for created was being exit. location grow, asset analysis and housing categorized each plan. plan the supply either physical to senior categorized analysis, Each each strategic partner property We redevelop quality either as as plan for
and HCP. Currently, seeing track exactly the a design quarter-after-quarter evaluated and We even long-term execution building this team housing intentional and housing strategic from significant team of of the now The senior represent tend we've been building the plan. HCP actions time execute plan. you're data a The business analysis and that, by to platform better do to the and lasting senior at of value. an was of record
an For year. X% renewed roughly core we are additional Bay The and for Southern example, annual will rent living per in performing is the properties escalate the agents second the million, property ten which master Area ten $XX lease These high-quality, Seattle, years. quarter, at high in with California. senior
covenants which mature challenges key obtained quarter portfolio a HRA. X core in amended tackle head-on. $XX at X.X%. we will continue will the leases and combined We be provide lease We XXXX. the rentalized to the improve of master assets. second with non-core sell to single will We'll remaining that In We properties capital improved our lease and X in million guarantees
the performance is be struck times current Capital cover the level, projects next will team. improve operations which management which two after from year should for before X.X or rent roughly
a signed our non-core property agreement also We definitive exit Care. XX portfolio to Prime with
as the negotiated yield was close we which investment Care has is purchase Prime a is Cash asset on for expected price sale a bargain direct accounted cleanup option. lease $XXX million. transaction HCP. Historically, X.X%, the purchase and a financing Sale for option. in September quality of for to reflects the bargain important This an because
Now we turn for a back stepping to before moment Q&A.
our acquiring highly accelerated yields. by differentiated strategy real The was second quarter accretive productive at core estate
operating position year-to-date industry us results. partners, our build relationships Oakmont with These our deepened leading on King including HCA, strong We to investments and also Street.
let's With take question. first operator, that, our
