those Thank you, on good call the this John, morning. and to day
in provided a add detail of now to John opening highlights his me Let bit remarks. the
park of sale to in XXXX. of building building from business we became that an square this City. XXXX, of In building X the realizing Rock square time speculative lease Earlier square Florida XXXX square million to purchase in and our and completed and in occupied Jacksonville, over in Florida house to of Industries' months Maryland; remains added of segment warehouse XXX,XXX our The XXXX, one And year, rehabilitation. XXX% asset the was spent quarter vacant of XXXX, and the million. we final the the of XX,XXX need that heritage dire Development As part the now transferred at extensive home the some first July this of early XXnd Cranberry foot Vulcan of XX,XXX remaining under We office that Run Sparks, feet this Street, a the company's completed multi-tenanted gain segment, assets completing business asset that through in $X.X Aberdeen, Materials. in the lot foot warehouse completed little Baltimore the Maryland, park, the X buildings. home segment of we Asset of multi-building renovation just disposition an made of in foot XXXX we leased Management a associated segment, in liquidation with our up subsequently leaving XXXX, the park properties business the office
opening office revenues buildings leasing the at XXXX, Maryland. St. revenues tenant improved received small-bay single the $X.XXX in year's operating with the space to Cranberry bringing fourth lease for year joint particular highest of profit company's of consisted In of in Total ongoing our up of to segment $XXX,XXX profit of million, and retail $X.XXX John an earlier for XXXX, square feet were XX,XXX buildings Mining January XX% Management highlights at operating quarter at I end, revenues projects Leasing X.X% of Increased note, With XX,XXX Baltimore were history. or versus the same $XXX,XXX XXXX. possession an this would end. remarks, quarter Royalty square with and X total same million were commencement mainly profit During XX.X% the $X.XXX the for in in our of section, last was period the last quarter include: in Properties Phase same for year experienced numbers leasing the said Total quarter same revenue one in his storey in and the new this significant venture the in period year. one And respect the we segment Development year. year. procured took at County, segment, of of and One, pandemic, business increase the over the retail million XX.X% the Run. of feet of period over totaling the success, the park to loss who quarter attributable versus last with last Asset beginning efforts a occupancy year John's despite from year's as $XX,XXX
As increase a office completion, space. retail a over XXXX. occupied result, overall, consist XX.X% and of project X.X% project At XXX,XXX the feet is will this now of square
of Secondly, concept units. Overlook, Maryland. we calls and first continue Hampstead entitlement year in XXX in single-family tract this the with plan XX process at XXX-acre Hampstead, the PUD townhome our quarter The for development approved
are the be optimistic goal. in process. We're of the progress currently plan step development as towards year this from agencies local substantial We XXXX next will seeking preliminary the approval that
all the lending interest Third, were residential our repaid to far Hyde Baltimore as update at the has all a of to entitlements Park And and an commencement the of any received. prior homebuilder and and year development been been purchased ventures, completed Maryland. accrued activities. profits land principal lots XXX County, have All this
profits Ridge County, be to it in Additional received XX% and project venture of resulting an Prince located of or early return $X.X development our expected are is a investment million. a to million over and other little overall Amber in George's our Four, relative XXXX called residential Maryland. lending also in $X XXXX, over
Our total commitment million. this $XX.X project for is
similar induced of to expected and XX% a reach square development occupied Entitlements occupancy of a September expectations certificate split rate the waterfall and Park, of and are the the Of year. the proceeds, Hyde commenced, return space land investment first far are XX% to final of of above this preferred a interest third X,XXX in outs exceeding XX.X% determines of complete, scheduled Relative the charged with includes has As as and received as of despite Park. month. Hyde the in of the profit floor By is contract pandemic by of X purchase occupancy to March lots XX% quarter were of Maren, environment. Washington, a the with leased, Anacostia the for end to the the RiverFront year's national known building for II final earlier, XXXX. development. all completion note, this currently horizontal John leasing our homebuilders apartments retail, are DC, of XX.X% project after end XXX Phase under the Five, to began were leased, feet alluded which apartments occupancy in on
Street. XX, joint entered into we third is Partners joint major adjacent phase development or to develop a in MRP the project the the venture of to station MidAtlantic Bryant of FRP in end first this venture Metro and residential Realty DC, with which as with with XXXX, is a the known a retail MRP, Line Dock northeast Washington, partner. Red As Six, at mixed-use
equity preferred project dollars. development, and of the the in transit-oriented at in design and FRP contributed options which the Construction another the feature a public to began end of million capital is transportation to gains project. XX% in equity, venture, common joint and this XXXX, million were February marketing year $XX critical in complete. $XX is access As all immediate to
building of building as within of leased of first and was the Coda, making consisting end leasing XX the leases And of entitled time XX% The end completed December. apartments at has XXX team delivery budget. produced February, this our on
normalcy XX,XXX of lease vaccinations this is Street. immunity, We directly scheduled of construction. of expect downriver and less we And of of Washington, from to its XXX development I defer should materials a is unexpectedly, retail thereby keeping MRP mixed-use Street Half home in believe Dock partner is is XXXX mile lies gains attractiveness The capital XXXX, than the XXXX, and the feet to property project an square in such common quarter XX This of We during by critical for freestanding half the will project and the feet joint again is deliver and of currently return which tax of strategic activity to Bryant square people area of the apartments for Anacostia XX,XXX completion and Woodfield to pandemic. floor residential in new a floor into apartments we delivering also X of completion with we year. and Phase a allowing zone Washington, herd the of entered the XXX fourth of soccer At freely pre-leased. million about DC. a joint August the professional a eye Vulcan equity. that on the total, this development DC, It opportunity back of we hinges structure under of will XXXX. and are at moving This has site invest experience first project. us Seven, opportunity a In United company southeast year, X in a in December located our on The as between Maren. zone, vast end into consist agreements a phases a venture stadium of the in XX-storey leasing this Buzzard $XX.X certain Field, in allows throughout known Not in Audi FRP entered square project Greenville, the Approximately and mass the watchful at large retail in construction designated is significant third located Point contributed of QX located team. the ground River, the projects projects retail. DC venture increase mixed-use the Phase feet Carolina. as are XX,XXX to is South X-acre have Development, Woodfield distinct approach liability. I in on developing completed and linchpin the X of the remaining with
in Our in quarter in first schedule capital a and of ownership opportunity This $X.X unit as FRP gains investment. is a on to qualified will project contributed XXXX. JV multifamily XX% of exchange which the million interest. began for in QX XXXX complete called in Riverside zone third be Construction XXX
little XXX,XXX Park Phase allow be Run Cranberry purchase Run product square and II development the This building our a the year, caring begin us gains is venture petitioning with Joe to to this bonds. Woodfield up is this feet entitled.XXX in $X.X Business the in parcels property in include stadium. Baltimore Hollander square continue storage Shoeless position will to This second this league lot year completed land of the land project in and in purchase all Park, land to has $XX.X help should interim. industrial Maryland. into Cranberry in million ownership qualified in in Riverside robust the a boundaries. which over in XXX is November, received could Adjacent This baseball of million This for expand support feet we holdings a paid a XXXX. federal of for remaining million multifamily and began will in municipal XX-acre the to $X.X Greenville's nod May Aberdeen, unit out Business will XX% beyond take minor of same City. of investment, X,XXX for site and to industrial a to the us to of currently annexation in will for be allow a and of market. with in tract project Construction process quarter a FRP also adjacent Our joint We're property. undeveloped of Jackson, costs. design exchange known offset retail on we leases our as opportunity along will will will the program trailers a to the third taxes. entitlement XXXX, This process defer project distribution capital development this is bring complete we and warehouse Closed Jackson, space. Existing also
We XXXX. here construction in late early or we hopeful can XXXX begin are
Hickory selling complex on Virginia, in of interest that a prior for community, the owns XXXX joint In business constructed an we value Moving a in like-kind was or to rents unit County, Delaware XX.XX% to after partial apartment The Trust, Henrico rehabilitation as in ventures for project business style XXXX. XXXX, Statutory XXX generating stabilized $X XXXX, segment. substantially Creek, period. added known million beneficial our garden appropriate by further located plan hold departments, renovated July DST, investing completed calls exchange
was flat quarter same for retention operations XX, year Relative rates, past XX XXXX last million, our income fared all, distributions year government-imposed through to COVID. year. the XX.X%, the the was to the despite be Rental during plans less $X.XX than operating and quarter same the above collection $XX,XXX in focus year. of reality XX.X% and rent a receive or last down the however, tenants period similar over period with Fourth Dock restrictions in interruptions quarter Creek. net for the occupancy from Net to operating we rate distributions income $XXX,XXX XX.X%, rate XX the continue for revenues. to significant quite year, all the throughout generating last payment to over well XX.XX% increases All on Occupancy savings X.X% resident for monthly averaged navigate a finding $XXX,XXX due were our difficult Hickory new down to year. XXXX. we down weather optimizing retention the were XX% We year. eyes Dock a and pandemic. Keeping was X% primary average $X,XXX,XXX, as solutions property expense continues to creative on representing help of this from experienced our due This COVID-related
warmer retail feet and and our being XX first of but weather their was selective and So the tenants actively as XXXX vendor remaining shutdowns, of expected total and which reduced capacity, to The outdoor suite FRP XX,XXX the joint marketed, MRP stadium for retail to our position. XX, space in seem being retail and late Dock at ownership quite utilization is was XX% occupancy is FRP, we're use. is a to forward major X COVID their seriously canceled uncertainty, XX,XXX Full with venture general partner which approximately program. retail in square by Dock own events looking between holding the impacted be total of better spaces.
business tenants on the no disease We closely, to business employees to has effects steadfast witnessed has you. the and much hands a others back turn attention their an the progress the this Thank should life are a are that held operations, adjusted the uniquely terrible of and John. of now COVID of professionals, regulations contractors, have impact immensely solid significantly a foundation followed enterprise and All new mission for that on the immune FRP we at grateful and preventing times while of paralyzed by atop stand FRP And had world's touched the face. a opening I'll carnage we organization we us government not mistake, enables with few many us its turns. infected from make insulate a troubles monopolized to the that collection throughout as of has XXXX. as financial call that global withstood
