FFO Per Share Growth
FFO per share as adjusted for comparability was $0.69 in the quarter, a 6.2% year-over-year increase, and for the first 9 months, it was $2.02, marking a 5.2% increase.
High Leasing Rates
The portfolio ended the quarter at 95.7% leased, the highest level in 20 years. Tenant retention remained strong at 82%.
Successful Financings
Closed on three important financings, including a $400 million bond at a 4.6% yield and a credit spread of 95 basis points.
Guidance Increase
Midpoint of 2025 guidance increased for six metrics, including a $0.03 increase in FFO per share to $2.70, representing 5.1% growth over 2024.
Space Command Relocation
Space Command headquarters to relocate to Redstone Arsenal, expected to lease roughly 450,000 square feet, driving additional defense contractor growth.
New Investments
Committed $72 million to two external growth investments, both fully leased, including a $40 million acquisition of Stonegate I.