environment, only the inflation of began take over you before headlines. Thank the of our uncertainty call inflation, you, joining took today. to for economic start thank was XXXX, time a Craig. It morning The around shape. matter and Good specifically
control offense. often urgency say controllables, risk play into As to with team: opportunity. I put, Simply act the and turn the
to our under our investment the and We duration our lease, our management; playbook platforms; increase assets lease; flows long-term five areas: cash short floating lastly, and on differentiated and reduce diversify risk. lease, add into and focused balance through sheet; leaned strengthen three rate
leading units. to with aligned, Our business team execute across became all excellence quickly us
We another per with same-property dividend note great growth finished X.X%, FFO operating was and addition XXXX to in NOI X.X%. the year bottom-line growth and on share growth was a raise. top
level our growth trajectory our high first visibility years, next dividend X%. of we the few Given the into quarter over by raised
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all We had another banner year metrics. across operational
highest remained achieved over $XX our highest basis one rent levels. about which that the the rate leasing to team XX.X%, our has translates come locked leasing as points levels feet, leases income yet feet million of year covering points is us recovery the X.X rate fourth growth, of activity activity in XX our since signing in million up XXX,XXX in peer square quarter, lease to our we This XXXX. and culminating ended square occupancy full-year in Our of putting year-over-year XX volume basis of pushed during Embedded near online. annual leased XXX set, the and to pre-pandemic
continue base. annual also our increase We drive tenant to retain and escalators rent,
supply premium costs. our as to remain a which move-out and spread new face escalators the of are XXX was of predominantly XX-months, XX% in basis XX% we within seeing revamped retailers in trailing located is for they leases and year. a nearly portfolio, MSAs points new the top as annual new we Retention signed XXXX the during pay XX the Over limited produced releasing comparable increased
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at expect Square year this details Regarding projects asset our Michigan Hunter in and to later the redevelopment pipeline, market. Oakland Miami at connection with Marketplace we more Delray in in County, share
discussions We both for sites. are national tenants with essential in and high-credit
their retailers we As in national across demand to high-quality very expand footprints from strong looking look ahead, locations. remains the portfolio
restaurants, see apparel, from the continue tenants. medical to most wellness discount demand grocers, We and club stores,
demand, this will occupancy over be totaling occupancy a portfolio as This $X level robust, XX%-plus to leasing targeted activity new we of driver Given stabilize million. our over our key our pipeline the growth remains long-term. of
row. headlines X the experienced in to In nothing part bankruptcies square nearly And such feet as year is us. commencements and fact, second been the for eclipse of the tenant we fallout a a have natural for million expect new in landlords of lease while environment in XXXX late, retail of
with credit to to re-leasing basis. ability and spaces better significantly we of the an portfolio as Our with operating our recapture the on these quality our anticipate tenant space opportunity showcase platform provides us earnings-accretive
had four year, Bed buybuy end Bath we eight and of BABYs. the At concepts the
a While surprise. remains not is their it fluid, situation
years have have these internally for We of sites. a remerchandising create through and the value motion for the several preparing situation strategy to been meaningful put in
into very range, drive cultivating to rents team our location. our us the a opportunity aggressively $XX.XX leasing us of square positioning about embedded and pipeline recapture of Our replacement tenants, been per favorably to provide has mid-teens an foot low rents with
we on which significant advanced them, Bath are in four all on interest of we had negotiations and maintain already of. buybuy Bed control While we locations,
XX% the set lease of at backfill in the re-leasing retailer open are We year. a off-price quarter spread with a with to location one to fourth at this leading
a Center range for with downtime deals. and retailers Average another. in Square Hunter Oakland to in and these for rents $XX.XX on Winchester $XX rents remaining For new with County, the at months locations negotiations minimal lease are top for we expected being discussed four with Michigan locations, the three out in XX were lease of these for $XX national are
Of four the are it's to that buybuy concepts. locations, remaining note important
were them, would if opportunity However, to of to expect to get at we we of between downtime XX range all XX%. spreads recapture the to months re-leasing XX
stages and We few. name options that grocer, health to for backfill and multiple have discount, stores, these various are in a locations categories medical, negotiations liquor including with beauty of
in Regal, three be surviving assumed Regarding entity we based point, the payments. We completing $XXX We all on open-air $XXX across and the locations in top volume none investment of acquisitions portfolio, finished another closure is At bringing quartile million on the all year three advanced had to million. strong U.S. on center by platforms, our acquisition on will current this the investment the buyers rent have of are each shopping list three front. and negotiations. two-year locations we believe XXXX, within
billion, XXXX. At up AUM since XX% year-end, our $X.X was
During Mary grocery-anchored our provided the the Columbus Shops share and contributions two Midwest acquisition of we our quarter, of Brickell These platform, of the in contributed venture assets, stabilized core at to Troy funding which Detroit. were joint on for closed fourth Marketplace Village. the Lane in
we year we for half in potential target of Although continue for to actively second the markets we wait markets our our curtailed the to as acquisitions. investment rate adjust the to activities scour environment, new
the have in and changing between excellent availability with is maturities years, good provides remain our market us quickly which that liquidity competitive ventures joint The news above-market us of the breadth we generate to cash to us for and that position great also that debt next we a conditions. expanding can long-term to while advantage revolver opportunities two no and allows Also, capital puts pursue. a returns respond
XX% Mary rent expect our occupancy expectations. The X% versus square average up we foot $XXX in-place summer, exceed rents to the asset and Let's last are XXXX. in continues to Today, on Street-level is to it closed mid-XXs. by $XXX the we Brickell. of touch in per currently XX%, end range our the the asset since exceed on
that next recapture a help of and We the years. have best-in-class, growing will the multiple the few mark-to-market capture property deliver both us iconic opportunities over to west side Miami and on east opportunity Avenue leases
Beyond densification at up use as to site office Miami's to evaluate or zoning X.X the the for heart we capitalize of million square on hotel this, will in flexible for that value tremendous of unlock allows plans shareholders that potentially residential, long-term we the neighborhood. continue feet Brickell
XXXX bad thinking in Mike more remarks. about at-risk we our few overall X.XX%. a the share expectation his on outlook debt of and bad debt prepared current Finally, of includes we diluted operating our prudent NOI X.X% per in which outlook growth Included $X.XX, guidance initiated is of FFO to with will of for are $X.XX level to how provide same-property considering our details situation a tenants.
With I'll Mike. over that, call to the turn
