all and Good we thank call PAC, health you, we this remain tenants for as continued everyone, I stay and hope joining safety safe to residents, of work continually everyone our on environment. associates, navigate this to and focused and Thank together our you and challenging and healthy that their our our communities. Paul. on the continue call. families evolving our morning, At
of tailored the to and effectively the of hybrid which have and meet associates work to in operate continue office environment, our We needs we needs a our remote business.
liquidity measures results, will take to operational lines evolves. first will to March A then discuss markets, been employees and as our look with realities ahead. focus morning, also proud we focus; and and are results, liquidity. look our and of our from were financial with come our companies the operations this Isakson our our COVID-XX and also partners, store even this We’re the whose the on to pandemic environment closely our quarter this our comments I about be so of in multifamily early revenues grocery and will a where discuss has our with continue front still our onset associated quick for ahead managing communities then John
and and of the been impacts pandemic While the society real immune. impacts on general remain uncertain, have and the have still in estate been health not assets long-term markets length significant, and
However, XX to after and XXX execution type, creating growing April launched employment a experienced pause We basis many our And we We attainment, platform rent of In in month’s recently our especially as mid-March. well-conceived dedication states that. economic COVID-XX second previous assets, the the strong not I mission May more strategy the collections to locations of release, of estate June relative numbers and run X. our of well-conceived June independently, of for collections in demonstrate most of results built Sunbelt collection good competitive this value, April we’ve stockholder well. on property a market night’s here drivers, The diversified the in assets on educational changed on including household but results. close the there is tenants, released we the results real markets while diverse solid owned reflect markets. July. in numbers sets solid basis, has believe strength are a and environment, The reflect and in our strategies, teams. characteristics, each our game a incomes. what on and last diversified high is on share to and than very These for last whole our collections suburban strategy these and value want and our specialized disclosed updated also and positioning our growth included as it focused XX, so these broad XX quarter by long-term night operation disclosed plan and operating team’s our updated previously the July
and to of the for From Our the focus means XX Sunbelt migration the to positive benefit seven net we were benefited in top states have from net expect suburban top XXXX unifying continue Sunbelt, trends. located to XXXX, migration six. including
and the longer accelerate term industry post-COVID We as expect in sustain mid and trend environment many do to this likely commentators.
update. Page business on our markets on are details Additional our X of shown
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markets. pandemic resiliency We of which in composition. portfolio aware That are we and encouraged scope the this highlight and the these macroeconomic serve of times highly and stress these, like are with their In of management collection our deep teams the types economy in by the impacts of volatility by product well. said, duration experience our uncertainties strategic the our and in specific us posed composition its keenly to results, to portfolio and focused and expertise
our our you where pages and receive towards of will Now I give to you will point update more details. revenues turn the business that we
comprises approximately multi-housing First, XX% of revenues. our
NOI our basis store represents business. our same We second with X.X% on multifamily quarter same our of growth are multifamily in units. XX.X% pleased relative pool year-over-year of a This store
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will continue but we we measured disciplined in and intend to to be multifamily approach, the our always, As portfolio. grow
is Sherman questions As leader business, us available you mentioned and address for earlier, our core Jeff to business have. with multifamily today may our any
as kicked first move-ins in have off and our across We continued our student of week, this the lease eight the operate portfolio portfolio. well, to housing and properties
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And important Next, has was it our been play Teeter, This there and us while comprises of XX% focus revenues, industry to XX top want specifics centers our markets. since approximately portfolio we Publix, much business did our across we about of is would for XX XXX% on Kroger to composition. on are only our retail we by this so retail our thought a typically strategy. anchored grocery-anchored grocery-anchored and focus Harris more performers than discuss pure generally, more
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in retail to the past grocery-anchored results Our centers portfolio foot-traffic seen high convenience centers by months according over locations Sunbelt locational Placer.ai, demonstrate actually strategy from continually this devices. performing well increased analytics investing several levels, highlighted positioned that. merchandising to that have impacts the has collection these retail traffic year at evolving returning based a COVID-XX Many interprets we data of close pre-COVID mix navigate grocery-anchored our and of four of their and to mobile our has to firm use traffic
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deferrals a with been Many taking enhanced long-term are have tenant basis. asset. came each deferment term or modifications by We lease of discussions of in the very rent tenant the an on value that other and our increase deliberate with our
with redevelopments to all our base of point, leased, were parties of prosper tenants XX.X% that we in of Our to second goal excluding maintain outcome helps the the as find and is To to stabilize existing that tenant partner the of our end quarter. an solid long-term. each portfolio able
portfolio only that proceedings quarter the grocery-anchored during leases only in PAC’s tenants X.X% these the our filings. retail charges of bankruptcy of annual quarter second revenue. have we has annual second While them Of COVID. been over have very with roughly X% The filings annualized or of there many XXX only bankruptcy during our to revenue, approximately companies retail portfolio, six bill exposure limited COVID-XX, entered represent XX have group’s
approximately strategically already lease we these this them new new majority or have exposure, The sign quarter. a completing Despite space of executed for have today feet executing of either in continued to third to-date centers, a For headwinds, remain in and is leases are with quarter the the new to our XXX,XXX those retailers new leasing in operator. XXXX, new second feet also the in back-filled with square XXX,XXX renewals. of the lease amendment at team we and during square we leases discussions actively
new been pipeline our some leasing building pleased is that and tenant interest deals have pre-COVID that We with been revived. gradually back have up
type. are of we tenant be grocery-anchored our more for portfolio through these challenging we grocery-anchored refer XX retail optimistic and XX update portfolio’s continue to believers on Please Pages business long-term As resiliency. during in to specifics our composition cautiously by our times,
grocery-anchored today you may As mentioned to our Michael us any questions answer Aide earlier, our for available have. leader is business and business, with
comprises Finally, of segment This our stability. provides XX% revenues. approximately of our office business
to economics leases more square carry eight-years lease signed and feet our second of our high-quality carry of well XX% quality to point relief, arrangements in more our and by office up budget, viable of roll credit the were and large March of feet lease result leased in – part collections nearly portfolio. XX% million leases totaling In years structured rents remaining. ahead those creatively In leases Average need for Since signed term are XX X.X we’ve capitalized collection average rent against corporate more new contractual properties success been average parties. highlighted XX%. XX,XXX with square more with year-to-date have disruption. in XX% average leases of office across of a of customers well weighted and The of has term demand average users both handful benefit continuing markets. than situations market predominantly than X, are of we our billed. seven than portfolio the of These We these than short-term the for businesses major we cash backdrop quarter,
our renewals. with XX leasing and in being for the to through have square Please to retention composition our We of office update base. of feet XX attributable high of A Class seen approximately refer two-thirds portfolio details Pages XX,XXX additional business tenant
mentioned have. for Boone business is As leader business may today questions earlier, office and DuPree you our answer to available with our us any
said times. unusual this of uncertain. we of The are All in scope the economic remains duration most and truly the downturn
change We in prudent and will as be be actions. vigilant events our
and stockholders. We’re focused for present our the future the both on
As we our in May, PAC’s focus strategy. discussed call in quarter broader to we last capital continue on
will We in strategies will timing, to focused stack and share the take sheet. any balance with renewed our with long-term and remain both future, pandemic and fresh but as near on impacted with we strategy focus continue on our has perspective the deployment and capital plans near-term the our goals. Certainly and and you of shape they on market capital the
achieving continue operating culture ESG we our our more of attention training and on performance, company-wide our attributes to Finally, with will These governance, focus and our than ever. associates, excellence are the particular now important initiatives. developing on our
me let over call the John? Isakson. now to So John turn
