Thank you, Gary.
last range. Third the NOI was quarter contributor by the our level our FFO savings end share of to corporate to of increased the end $X.XX quarter primary outperformance to outperforming and X.X% high the as our high as core points. guidance per above were for total of Expense $X.XX basis property same-property at the compared Sun's midpoint. year, XXX guidance compared
revenue performance of lower-than-expected Our was expense X%. property and driven growth by of growth X.X% same-property operating
months, annual, decrease XX mitigate converted ongoing decline NOI to were in revenues, housing in programs by a prior period. of continued annual driven These grew rate, trailing an growth. rate For operational for occupancy increased increase the conversions by occupancy NOI X%, rental X.X%, to X.X% a partially grew gains and X.X% X,XXX focus to X.X% quarter, to same-property the increase RV same-property sites expense X.X% transient rental relative weighted in normalizes.
Adjusting revenue management. the offset the and due RV as over year on manufactured approximately expense site average Transient-to-Annual transient transient
sites was X.X%, revenue for Adjusting Over year's to transient last down as holiday the compared the weekend. decrease to Labor annual, by X.X%. Day RV transient in transient holiday X.X% increased revenue converted weekend, same-property RV
We conversions the pace lease percent drive our of continue RV sticky to of Transient-to-Annual increase to revenues.
compared X,XXX of sites over This in strong highlights leases, for conversions. a XXXX. In to year-to-date increase XXX quarter, the we quarter total network. X.X% be annual part our NOI as in X.X% demand increased third to An to converted of marinas, same-property nearly revenues the
by in expense solid our savings, and Southeastern Our longer increase, within utilities. stays performance was particularly Marina operating guests rate due payroll to rental and
with U.K., is In the real NOI is over average our million our increased owners property $XX meaningful was of the XXXX X guidance. steady. rates growth a U.K. year. approaches quarter driver holding an income for among this retention resident tenure property years. The line Retention real that With of in
higher through American North our broadly contribution economic sale line headwinds lower the with home despite continuing by volumes, the date, the quarter was XXX approximately end for leaving challenge In U.K., quarter, achieve Turning home offset we homes, XXX in volume margins. X,XXX homes our to full of year to third have homes we to where guidance. to volume home sold was quarter. Fourth sales. sold sold sales expectations be the to
just In to are the terms on guidance, of $XX the NOI, approximates over which for million full midpoint of track year. prior achieve we
focused our last debt. our balance call, on decreasing and sheet, Regarding we rate since variable have leverage
through line a April During on we million of $XXX our fixed at rate and of SOFR X.X% or dollar credit quarter, third into to subsequent entered so swaps XXXX. for the U.S.
proceeds Gary million As borrowings position the in pay to we of and $XXX credit. sold discussed, used our approximately on Ingenia down our line of net
million approximately in of rate interest maturity a and average of mature weighted executed that $XXX $XXX SOFR March. new in debt outstanding we approximately million a Additionally, $X.X had X.XX% of Taking into approximately of include activity year at at impact $XX this this new years. debt The the rate bear account, to debt. million swap had secured X.XX% refinanced a fixed positive weighted in Adjusted loans of average billion with XXXX. was secured we and X a of maturing
approximately ratio of XX% debt leverage floating. and Our trailing XX-month our was Xx is
year. the Turning to guidance for
$X.XX our year FFO core a X% downward share $X.XX at to $X.XX establishing share FFO core and revising full per range by of to a per are the quarter of range We guidance midpoint guidance $X.XX. to fourth
expected outstanding, driven our lower performing related midpoint in fourth U.S. Our the primarily the home the is towards for by NOI sales primarily for to interest year the remaining Note higher U.K. revised and guidance range expectations expense the of in revenue U.K. transient quarter,
with expense guidance.
We a from $X.XX expected in income. U.K. Note savings in this down previously X the Notes the pay months interest debt quarter $X.XX share share repayment, Note, recognized first of interest or is the no approximately approximately year, and per There of generated or which roughly Regarding $XX through this income fourth fourth have the million million we interest would $X to quarter.
For finish with units within fourth sales, our the U.K. year prior quarter. we guidance volume range, expect home to in sales around of the XXX home
home home. lower these consumers on as and forecasting into pre-owned exchange homes part new to sales are U.K. favor margins We continue
the quarter. for $XX,XXX sales U.K. NOI revised X per home home average our in the first of margins approximately margins NOI $XX,XXX months assumes and guidance on averaged fourth
over property strong X.X% driver representing of growth on management, is the and date at our by by continued points our at in expectations from increasing a are Based NOI largest manufactured marina earlier. is our to portfolio higher bolstered by expense for range the demand, XX same-property X.X%.
The same now of based Our new At slower increase the is prior from by offset effective results, the prior RV growth higher range. same-property midpoint guidance XX% of we growth MH expectations we NOI. total points, far X.X% to XX partially housing basis results basis X.X% midpoint to the addressed expect of than midpoint the midpoint, and on properties, NOI the of
same-property compared to prior portfolio, point a X.X% to NOI basis now which the expect Our decrease guidance. grow X.X%, represents as XX we at RV to midpoint
expect For XXX we range same-property basis for X%. assumed of to XX.X% a point prior NOI to range from the increase increase of a XX% X% to marinas, our year, to
rate discussed, Gary manufactured rental the increases midpoint, North and rental for average America on U.K. X.X% the rate Additionally, guidance expect in to realize providing in XXXX. increases At housing and X.X% of as we for annual preliminary we are
increase annual and in for X.X% rental rates in RV annual our marinas. portfolio across X.X% rates a annual expect We growth
updated please year For our guidance, disclosures. additional full our see regarding details supplemental
markets guidance and capital our and acquisitions includes As October reminder, activity dispositions XX. a through
of not guidance Our may or activities, estimates. prospective include markets research the analyst included be in dispositions capital does impact which acquisitions,
This prepared concludes remarks. our
up will We for open Operator? call the now questions.
