those afternoon. John you, on to this good the and call day Thank
remarks, have paper As to look been business. a into opening sale. potential follow-up John’s a little certainly our But warehouse the for the redeployment we of on cash initializing company future opportunities busy may the following different
reiterate, to last business of for were X an up right Thus, buildings. tenant and business an of warehouse reclassified litigation is operations So to our X pending portfolio Blackstone asset last segment option relative increase $XXX,XXX, being X% its $XXX,XXX, Asset with an revenues discontinued same office option. our total purchase outcome of to million, management the for facility quarter, first affiliate to segment has consists $XX.X that profit of including relative the remaining operating segment to current entire the warehouse of to This our and this refusal over said, Management X.X% period were year.
year to segment mining for quarter a is revenues enjoyed increased the $X.X As its increase our this third period of in increasing $X,XXX,XXX, profit the segment an last creation. add revenues operating to through the significant this Land the have revenue $XXX,XXX over the XX.X% increase other Total year. behind business its is in just segment the I driver the might was impressive quarter of same of business last the straight year and to million. period segments, over this same royalty And as XX% main objectives. to the for but segment. we incurs a With cost X more Construction, months first And said what’s has the is generates accomplish before, and segment any respect this that generated value minimal Development most the fact ended, revenues is ever. this segment
We our or completion joint of quarter during retail efforts small fourth have in exterior with they the and bay a and John updated ongoing projected new Historic of spec for Hollander mile of feet the respect building and Park trailer first of was plate fourth design clear for Two, in expand market supply Properties, plus tenant. in venture leasing this and This Marketing storage second begun suit St. quarter the of its with Baltimore, square XX,XXX of has Baltimore an our year. drop buildings XXXX. to square on in scheduled last include: the of to include warehouse XX,XXX this X over a earnest phase generous to prospect Maryland So ongoing minus County, XXX,XXX basis. consisting to ceiling in scheduled square in heights is new been with the construction foot project projects, of Maryland. office single-storey the shell totaling XX foot XXXX. quarter stabilization Business the feet in absorption completion space annual one,
Unit of a efforts been of The lots. call County, project and town our townhouse Overlook. continued before Carroll in entitlements XXX-acre the now single-family we the our appropriate annexed is governmental which development Maryland, known Hampstead building tract Hampstead. combination XXX agencies plans Next, Development for for into has as seeking Final Planned
source previously year, capital as one known this development Baltimore became Maryland, the County, was Next, now another venture, principal in earlier Park, in Essexshire. residential Hyde which this we land named
charged XX%, the have preferred minimum of profit-induced which proceeds. to XX% We requirement of million a interest final a and up waterfall rate with committed return $X.X above a determines split
building finalization as record developed fully that single-family and XXX plan lots. can X be homebuilders, at national townhome to lots Our or is flat sold create either to
in some first the are process compiling currently quarter in final the of to of XXXX. appropriate in our agencies response governmental time the development advance of We approvals
in April Phase X the first This will Phase on Next, RiverFront Anacostia development of retail. now of apartments DC The and floor X this mixed project year, use on XXX known our square Maren. of consist construction is in as began Washington feet X,XXX of
or in As be XX levels expected of we majority X is first September garage with joint the was Like as receive for is building known, Phase The Partners mid-XXXX. in its which FRP MidAtlantic XX, ready or and a part. this the venture taking is excavation complete Dock were resident now to did it’s shape. MRP to Realty
buildings that quarter, satisfactory of the XXX,XXX of building on end intent a we during add years, serves. for fourth in warehouse competitive rehabilitation inclusive over letter into class quarter the Next, of the extremely functional little a a of XX areas feet in After entered in been X year, the park value acres certain somewhat of a period expire Harper at the Maryland. plan making square neglected totaling purchase county, B of our study this marketplace contemplates property each and recent will that have the
capital Line is MRP, a feet we the Next, XX,XXX Northeast in in enter and from of first plans end the freestanding million joint the to to includes floor warehouse residential on Riverfront, phase the contribute to first Bryant another gains $XX and of to as located a joint station executed $XX This square Currently partner develop Washington, quarter, us venture. $XX the another the profits at preferred metro at a mixed-use XXX retail, is equity of project X Letter common adjacent venture property retail. will zone, of Red the development and DC. allows opportunity to of sale. into equity million to Phase multi-phased in which the with Street. of million FRP consist our the known pretax that defer some in apartments to designated and Intent
Assuming we this in forward, XXXX. will project move commence early
purchase Baltimore. land, end of intent another acres of the contiguous executed XXX near approximately still the parcels letter at Finally, quarter, the several of port of to we totaling raw
complete million to aforementioned utilize over sell facilities efforts year’s Upon us diligence development and will million and should subject be warehouse stage $XX square $XX million could those next for the and due These for equity of this over due Our ultimately end. continued allow X prior including letters the to million lease committed of projects projects intent several the to approximately years, that $XXX construct, feet. diligence. are entitlement, totaling in
are that but be we for We returns, with realized fact spending warehouse and a potential a the from the of us providing our strong projects while powder think to need mention to it’s some are not provides extraordinary the important resolute that appropriate encouraged also finding the downturn I to come economy prudently. done absorb to that cushion are carefully sales all investment projects potential these a investment next does in dry in should proceeds, also nice which the way. consume monies
Finally, in we million by of the driven zone that projects important taxes tax economics platform from deferral potential save to their $XX acquisitions etcetera, such are these development. to opportunity it’s purchases, as while $XX also us mention the million warehouse sale can to baseline
our and occupancy our was both rental XX quarter, of RiverFront the exceeded these X.XX%, This at on to quarter rate average metrics XX.X%. was for just Anacostia an business average segment, XX% the Dock ended Moving retention at on expectations. past increase the of
project quarter. of consists expenses. retention, leased over occupied Our as which of just focus optimizing this of and touch retail and a primary feet the maximizing totals resident of The the aspect of rates component was Dock XX% XX end on XX% the rental XX,XXX
suites business are phase of restaurants still and experienced high public to been well until first be are third quarter revenues. the and opened is The that retail will XXXX. in construction two ready in levels The of received four serve traffic not of for the have related the and
and industrial quarter, So together, of land we of them in developed we from and the put decades mentioned last our portfolio purchased, came as ultimately majority sold. took conclusion, to buildings
of XXXX the the sale exploit of its our allow unfolds, company to a As classes proceeds platform strategy May of next of consist and our from asset management that redeployment will into expertise. knowledge warehouse chapter your
greatly X savings resulting initiating the Baltimore a are we we more employment value extracting count reduced to of with as from having in a annual approach the will million. $X assets highest in opportunistic group, streamlined XX to the we employees, dedicated over doing from be so So develop,
am will I will work have John. to now sure, call Thank to you. the So back And of turn do. a agree all lot you we I
