Thanks, Anne, morning, and everyone. good
pleased the increase at the mainly of which with FFO the point insurance by for earnings X.X% average X.X% premiums. higher another driven driven higher quarter spend are by same-store by year-over-year quarter.
Property a core revenue repairs home during and the of of strong summer and share stood second to report by XX.X% in growth second occupancy, increase per expenses part We a operating per in basis weighted year-over-year, the increase early to XX $X.XX diluted same-store and occupied X.X% up increase communities maintenance for year-over-year quarter by compared increased XXXX, from X.X% in of with quarter, driven a NOI.
Revenues the were
throughout repairs of and the This did an timing in have projects on maintenance expectations. impact full vary our to significant, not these costs Although was not unexpected the the year. year tends increase as
Turning our expectations release. to press updated night's We guidance. in XXXX last
which increase prior is and same-store versus last of of at $X.XX of increase of are driven For increase by to an expectations XXXX, improved year's to we NOI expectations results. X.X%. These now the an the guidance FFO in our $X.XX expect midpoint $X.XX compared growth an core X.XX% midpoint, year-over-year of
across half year. better-than-expected While board year-over-year unchanged did increase the based midpoint, the levels expense our expectations the X.X% remained the growth expense projected first total of in the to we lower at revenue during same-store growth on of
between G&A of million. components the other for is to ATM expect issued to of interest $XX.X million under of our interest million line now debt down primarily and expense to Moving pay equity Lower to We the and program expenses our management million, to property by use $XX.X on range on $XX.X year driven between $XX.X credit. range expense guidance. to
We the expect spend expenditures $X per initiatives to capital unit. per million value-add to the year, less while at on $X,XXX up unit slightly during are midpoint
the today, issuances in our funded have, we acquisitions, $XX.X project guidance. or million investment factored development lastly Minneapolis of mezzanine area. into the in No And dispositions, additional fully are as borrowings our
in we'll first. core year the guidance in we of the year full lower that half see did our the Implicitly, suggests than second per FFO share
utilities in due don't the we introduce tax during to refund the first the half are there a share milder that costs winter, items in While such to quarterly health a costs the in to and first year, intend quarter equated about per quarter $XXX,XXX guidance, of notable a the the refund comparison. as lower $X.XX affecting second of few insurance
we of of generally in higher seasonality and for maintenance to incur including costs, second addition, annual normal QX half the that they line overhead repairs leading level costs return a costs during G&A our and the normal item and a In of expect year. the higher expense
XXX,XXX subsequent of quarter $XX steps a million. of raising during quarter and On that shares to after balance our full of $XX and million further occurred the guidance. the end over we front, the year program, capital couple the have our under to About we sold our sheet. strengthen issuance took ATM roughly end incorporated We within
the We issuance. of will always of impact be mindful
that million so on a roughly guidance $XX sheet our assumed draw recent earnings we has it X% high The not not year. balance impact this guidance. our do pay debt it and full would diluting down that on did year only profile, previous to our but without to rate us Our credit of have material line allowed improves opportunity
and cash reduced lowest is X.Xx, accretive leverage been. pro has fact, our to a it In the on forma it basis ever flow
Additionally, to terms our subsequent recast similar without XXXX existing now credit, challenging in end, the were to we facility to initially established. able relative when the lending it in any quarter matures we a changes of do much environment bank our to group was making to and which more so and on of line completed
that, commend that questions. us results years.
To weighted cost to I We line in average our X.X% debt upon quarter average with providing the year. of of turn I will and weighted with quarter, rest well-laddered for the of a schedule and Centerspace conclude, team on an first operator time the the we building a to we at X.X excellent achieved proud the your are have We back end look XXXX.
And in of maturity the had to half a results maturity these forward of
