Thank John, morning the and call morning. on good this you, those to
third Let me with John provided now by to and a his remarks. provide detail opening you bit highlights our of add quarter in those
cash of in In in land of was the exchange home July, in Cranberry Management As properties: in opportunities. Jacksonville, that of XXnd million of Valley, Street finalized Maryland, The multi-tenanted The segment completed our Center close Street three sale office at profit and Asset and Business XXst we Florida; spec lastly, seeking our of $X.X XXXX. generated Hunt we the building Maryland; a County, XXXX third commercial sale million, the a our which $XX.X quarter, consisted latest in Harford the building of Baltimore, April are in Maryland. XXXX office,
a reclassified Management the result in early of discontinued operations and remember, you As as majority warehouse may XXXX Asset XXXX was vast sale. the platform of to
Cranbury continued XXX% over have $XXX,XXX a profit segment the occupancy the of last versus business the loss at million $X $XX,XXX, was increased buildings continued Operating upgrades A end. complete, and renovation same quarter's Mining project XX.X% the as up $XXX,XXX, now operating $X,XXX,XXX from XX primarily to same was to the year. period Cranberry XX.X% Total new profit increase occupancy at the at last period Run. for at period our by in were due the operating $XXX,XXX June $X.X well reaching This this occupancy in year. quarter, versus $X,XXX,XXX been XXnd $X,XXX,XXX year. we the of of were revenues Total XXXX same grow an segment, significant and Run positive last is Royalty year, million, market. total last revenues received building in $XXX,XXX spec same to from an to $XXX,XXX In period and Street up
royalties As those of first so are record within quarter's X% year months. to we the end, entire like have of greater any aggregates year, nine were the royalties through numbers year's last And XXXX. last prior far than collected collected
we of million Under quarry defer to invest ease traffic up local depleted. With respect in extend the of government have to a resulting XXXX, to this exercised to This to reserves any federal will second-like years domain three greatly profit. on roadway a FRP-owned mining in order our $X.X the roadway in unrelated kind tax on acreage a highlights. Development and incurring remaining any activity, congestion are Code the segment, liability. cash, the light We extension projects developments several Myers IRS asset million once in received mining right some have profits $X.X to Finally, eminent new its and Fort benefit in ongoing area. we
XX% addition in XX,XXX square saw space in activity with percentage the Maryland, we Properties, began concept quarter, Baltimore, of industrial in Hollander St. we construction XX,XXX which two of First, XXXX on received XXXX. lots totaling of two sold Park our feet project's office received joint the our John's and speculative single-family for retail single-storey permits the feet square this the Maryland, to Totaling project adjacent this of XXnd and approval Maryland, XXX increased first Business which Phase plan small of Street, XXX,XXX as this at Overlook, consisting planned last quarter square quarter. bay some proposed. Baltimore of quarter buildings four for County, are the and previously townhouse Two, Hampstead in spring our known feet, final warehouse third leased buildings buildings retail building for as X with Entitlements Hampstead, venture tenant. continue the delivery to mentioned
project. a moving the the in We to the This develop preliminary development are the currently approval Hyde is a our Park produced and platform, step May XXX approval, million which Relative forward plan entitlements necessary settlement settlement plan for final the the from Maryland, seeking on county. lending closed interest. in prerequisite critical the to town subdivision secures first ventures townhouse year recorded Baltimore County, four and of lots. principal and phase at The this in in $X.XX and of single-family the accrued
of and This in remaining quarter, $XXX,XXX million we received interest. $X.XX the principal accrued
note, Additional prior XX to repayment XXXX. interest of $XXX,XXX which expected as in eight maturity next over of months profits to March from accrues the the an its
County, currently in the horizontal improvements. Amber is Two the called ventures all contract project, development Prince stages national of following of Ridge, infrastructure purchase initial Our other lots lending residential the George's certain are development. completion XXX under located homebuilders in Maryland, to
section from areas we nice these to in scheduled and we look of The second benefit returns to lots homebuilding turned These in be to are shortage the have over quarter of in as first the are ventures appear concentrated. lending the XXXX. surge the lots of
X retail. This X,XXX of Moving project It square welcomed D.C., our of in first feet the year. floor Anacostia late development XXX Washington, tenant mixed-use of Riverfront on known this its apartments consists in March on XX-storey and to Phase first of as Maren.
the component XX% totaling the a with at retail large at The X,XXX robust certificates the and seen leased quarter, of occupancy end of June, During XX% third end from occupied end use the received third and square Maren XX.XX% leased quarter. activity, is of and increasing leasing leased, tenant occupied the has XXX% and retail to its at the the second feet, XX.XX% quarter. suite signing XX% of
majority As in XX, maintains interest Partners with Dock this this Realty FRP a project. venture joint a with is MidAtlantic or MRP.
of fourth of United scheduled of The for with sale a the development Washington, associated we fourth construction time closed investment quarter buildings is and D.C. first stadium property August development within professional The the first a directly the opportunity was equity Buzzard development a be three third of of at quarter, contributed located delivery project mixed-use into Street. in began associated team. the is This Point complete year. $XX for phase major $XX end retail. MRP zone, expected also this apartments will known XXXX In of MRP, platform of square Half in million The June, first will venture as and and the this four square end over residential consists is of $XX.X of a the phase warehouse Street, our with and This located by agreement house joint retail a quarter zone million retail XX,XXX between as XXX company mixed-use the defer of budget. the XX,XXX freestanding feet area feet Bryant D.C., and construction designated this of project the taxes on retail. currently overall by The is Project apartments new a year two-acre and is the million complete than XX,XXX of from XXXX. million us allows ground less D.C., Audi of the buildings interest. of XX% to $XX.X floor In bit Northeast warehouse in Dock and to platform project running on This of defer Approximately holds XX XXXX's and is XXXX. tax joint and Maren. lies with FRP known Materials, river floor remaining XXXX, a and the mile of at under loan of down with Washington, It pre-leased. sale. home a liability December square venture site which in subsequently XXX on X.X feet and XX-storey lease Vulcan Field, a soccer opportunity qualified with Anacostia, in the structure the our
fourth quarter deliver XXXX. this project We in expect to the of
XXXX mixed-use residential separate Greenville, throughout In D.C. Washington, Woodfield Washington, addition with XXXX, and and a vast agreements ventured of development in in of D.C. strategic into projects and experience two also to invest joint and Southeast South in developing residential to December Carolina. distinct outside the new Half has Development, partner, projects and two venture we Woodfield entered Street,
which $X.X this of first This is quarter apartment contributed the a complete is to exchange The first project project opportunity a third Riverside in ownership XX% qualified XXXX. during be FRP interest. in investment. is million quarter a the expected Construction called zone for and XXX-unit began in year
a tenant retail taxes. League Red XX% first actually in which mixed-use the under nod with Stadium, year. project feet of XXX-unit quarter project of Construction and Jackson, should position to also space. houses X,XXX Closing the Greenville's zone receive to Sholess defer on the this Our this a received a of Jackson, entitled.XXX will of who on in a Boston include ready FRP second of live allows $X.X with million an project is exchange to XXXX. adjacent This project occurred square which second to development also $X.X in affiliate the project for This is qualified along total the is ownership Sox. Joe Baseball is the a and site, Woodfield Minor April its Riverside, property end million. in at way, be us opportunity investment, of also
The the Moving quarter retention year. Average the quarter occupancy is quarter, segment. to to rate XX.X% on Joint no down prohibition net into expected first stabilized the currently to by COVID. was due operating freeze to but the of $X,XXX,XXX, same apartments XX, income over of during Business rate with was Columbia District XXXX. this a increases Dock was the Relative last to our the for quarter past XX.XX%. Ventures This XX.X%, for last statutory due rent period
of with have through end the partially for All pandemic, retail Rent resumed as most We from tenants XX, and exception XX% of at of of one our which totals leased the their nowhere over at the occupancy. remain component open near result quarter. to tenants down the June chasing shut payments of growth. of feet, end existing rates, approximately March of normal XX% three as albeit were carryout. the for and occupancy preferring of Unfortunately, renew XX,XXX terms retail The occupied sign the Dock restaurants are a now retail being will part. tenants XX COVID-XX continue rent the the square open,
a on the guiding and concepts XX their COVID-XX remaining preserving them had situation through prior good the rights our to time. in We in believed FRP continue is back with we in interest. as so. these joint of what Dock this these which venture because market. intent unusual key tenants assist a ownership we percent holds a and to Our executed see existing base to plans, communication our The principle tenant an space is and breakout retail maintaining for landlord to partner now partnered businesses. this in business and while letter The to XX is do is open be MRP, we lease the while to holds between future wait existing goal
mixed-use we're committed units, summarize we for – had So December development. XXXX units. ownership XXXX, of at units to FRP's movement XXX XX, in and in to completed the to total Prior a Dock XXX X,XXX another of
inclusion the with As of of December of third the dates completed fourth now XXXX, have the units We and XXX of of ranging buildings we through first the four of XXXX the from apartment will quarter Bryant future units construction, XXXX. with under beginning of delivery Maren have X,XXX Street. quarter
asset XX%. of July things be new occupancy finally, completed status quo and units, third quarter, apartment XXXX, $XX,XXX. an XXX-unit to time complex in the the year, December business X,XXX a Hickory to within last of total projected distribution Richmond, relative anticipated As above we is currently was XX%. remained the in introduced on average with the Creek apartment of hold amount segment in Virginia, of for ownership inventory to average this which And portfolio our The in running
quite in Our part the for Complex exchange. is project of renovated rents refurbishments project departments segments. multiple and appropriate like-kind $X in FRP prior recently of the XXXX fortunate and focused sales, XXXX. the increasing million was a XXXX to hold and to a constructed value calls development across selling team the leasing, in interiors have plan after this to that in further and an The has business a is been talented business period. investment at substantially greater active
to changed important it's of However, the we've note that, rest world, like to the due COVID.
us and the all committed mindful access mission But on impact communications, we operations, all. is of altered. having COVID unprecedented are have our and workflow been Our to remain
authorities. continue the while We the and an to guidance state the essential and and business heeding capacity, operate are government full local considered by at federal of issued orders
end for offices the hotel significant our business progress FRP To for toward quarter, distancing as Dock When the with retail we made homes. employing operate tenants: appropriate their quarter, through At all Our in and in are office to of restaurants second and COVID-XX. was up employees ensure clearing site, protection whom has but were late Baltimore, end services. rents of sure, open activities from small folks the of limited the continued. schedules of and had our and go physically focus to business. the on requests are first not set expenses. XX by By At to limited Maryland are fully three about at one we measures four notable forbearance all the the other be payment unscathed required, the interact end one the third of whose tenant quarter, working tenants related progress to aforementioned is employees
and net category. of However, the be their tenants the appear faring income, operating in better total for company's retail represent XX Dock X% of being, a most to than at currently the time
revised continue on though with as to few tenants and operate, to and usual. schedules Our continue conditions, rent pay exceptions, perhaps
change partners the that come new We personally our our with strive And are all way COVID-XX to facing our and we behave professionally. as trust be beginning and will stockholders' are challenges mindful good faith, and stewards partners. and as a of every But support employees of the well marks of business the opportunity. challenges we tenants, day.
Thank investments back would which everyone and now the we become, minted better the future at the now to we we make turn to John. I have call And visit I'll newly Lastly, encourage website seek. you. reflects our company the www.frpdev.com,
