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Management lowered full-year core FFO guidance primarily due to an upward shift in the forward SOFR curve, which reduced projected swap inflows by approximately $14.6 million.
Performance attribution is highly concentrated, with the Nashville market accounting for roughly 85% of the total same-store NOI reduction due to soft revenue and steep expense growth.
Operational efficiency improved through a centralized model and technology platform, leading to a 140 basis point reduction in the full-year same-store expense growth outlook.
The portfolio is benefiting from a significant affordability gap in the housing market, with the premium to own versus rent at 44% compared to a 17% long-run average.
#full #year #store #Growth
Management lowered full-year core FFO guidance primarily due to an upward shift in the forward SOFR curve, which reduced projected swap inflows by approximately $14.6 million.
Performance attribution is highly concentrated, with the Nashville market accounting for roughly 85% of the total same-store NOI reduction due to soft revenue and steep expense growth.
Operational efficiency improved through a centralized model and technology platform, leading to a 140 basis point reduction in the full-year same-store expense growth outlook.
The portfolio is benefiting from a significant affordability gap in the housing market, with the premium to own versus rent at 44% compared to a 17% long-run average.
#full #year #store #Growth
3 months ago
