you and and you Good Paul. thank your We quarter call. for morning Thanks, hope families our third everyone well. are that joining
and into pandemic we we eight As to November, tactical strategic are on we here months this our in continue and execute goals. stand
serve. We evolving our and associates, both across environment, have on and the focused and our learned all to as our tenants, at COVID the our communities and well corporate operate remained portfolio in we of as residents health we safety this offices
be impact that quite will future the COVID economy that its prospects in ways expect unpredictable We may and growth time. some for
well that All the as of but they yesterday quality, importance cases assets. announced has promise very the were well-run to of with in the trends also and Pfizer encouraging located already accelerate even of this, to we magnifying high the vaccine, COVID believe news served many there,
deferrals, rent have collections, the outstanding including product operational As student we for type, Cash environment quarter to reported current XX% yesterday, were XX% in for multi-family third the our every for been and results relative housing.
is believe driven solid key we collected performance office for this We and XX%, factors. collected we retail, two grocery-anchored by For XX%.
quality grocery-anchored retail economic of comprised uncertainty. in our stability, key office. First, and The base of asset portfolio is owned hundred Class a as portfolio multifamily, of tenant times of today, classes, particularly assets A provides our in and
Additionally, type specialized teams management run sector experience. deep with is by each product
Sunbelt of our These suburban attainment, broadly growth us employment to population and from and Sunbelt, rising strong focus trends to diverse allows household been high benefit Second, employment drivers, going net benefit positive reflect market base, educational positive the the including which a has migration economic for estate, incomes. on an of Land on in the COVID-XX by has urge and the PwC, which Institute which annual years, There I many recently trends you accelerated topics to and only issued is emerging real pandemic. these discussion the and joint been excellent report read. Urban
units. an now business on update of let our Next, provide each me
third revenues. our and the have third quarter been comprised our collections quarter, XX% of core multifamily business XX% our Again, For multi-housing of outstanding.
of XX.X% We towards October month to end seen expect rents and in trend November. months, multifamily by collected continue to of as the the XX% previous for of we’ve that have
environment. suburban consisting Sunbelt key portfolio, quality Our of high continues proud are quite assets of markets, this well, in which apartment in perform we to
positive third NOI X.X%. slightly quarter, the multifamily, at year-over-year, same-store our was For
pleased for we to are is even light that We the quarter, quarter what third of to average of same-store the for our XX.X% occupancy COVID, report in reported identical physical XXXX. of
of same-store down moderate coming still the quarters. year ago, we a multi-family from were achieved revenues top-line by believe just bad growth. will and concessions, was we debt our X.X% additional which offset in both It While
a initial focus are portfolio, we our the focused we throughout and availability passed. on as have steady rent now our impact on maintaining we of COVID-XX As occupancy and growth has a ahead, strong always look managing while renewed
move-ins continue. our for September fact, trend and rent we since positive for first In renewals turn the time growth to And April. this combined expect
levels, previously, offer to current who advantage under taken structure. those residents, reliable our Additionally, program XXXX have we’re portfolio. has no traffic new generally since onset remains seeing to Turnover steady across remains and their the significantly and below of needing of paying and are rent and COVID deferrals improved we longer the
newly has communities growing certainly in A to proven suburban economic strategy own this Our during constructed, slowdown. Sunbelt resilient Class markets,
benefit will migration, our recovers. the net employment from and as that trends believe strategy also housing We economy
as mention only associates us our to far. can take be and strategy thank remiss so alone However, I’d not
Our have but for and not and all product climate entire our own cared tenants. residents this families, associates across the year our and diligently have worked only in ever-changing company types an their
certainly Our I thank results are dedication. them. of reflection And their
While in taking this we spotlight are invest the actively multi-family. operations to year, continue
with a sponsor completion we third $XX.X real investment estate includes quarter, times the closed a have well and connection capitalized a that multifamily During done that on million development, at well-respected before. Atlanta loan, an purchase in right we business several with with
a in space our to a core intention Sunbelt our on stated quarter student community to subsequent end, Earlier it year, exit the business. we concentrate multifamily housing this was newly Additionally, we XXX-unit, acquired Orlando. suburb of constructed growing to
experienced diligence with and a is real As approximately of mortgage student we to cash and million, and their the very we TPG And million the costs. the housing performance. November debt for sale closing adjustments process resulted owner operational in closing TPG X, announced at completed proceeds operator. CBRE, on after of the confirms $XXX of net of of quality and other which $XXX we of satisfaction ran secured approximately of million and sale assets, approximately institutional this our estate scope $XXX the the assets strength
Next, approximately our revenues. comprises grocery-anchored retail of XX%
grocery-anchored grocers, Publix, anchored centers play by XX.X% Harris Teeter. and including centers Kroger are market-leading Our XXX% leased. pure These are
shopping see the centers pandemic. have of to at open foot our continue remained We centers traffic strong throughout and our all
outperformed. on aggregate, on with continuing focus We asset In areas remain our released that with other agreements data the XXXX. collections to by in collected rent company over of and Examples deferral October collections the certain focused come across that XX%, specific when revenues wide cash over to our both absolute second the reserves details relative The in second on as and third are collecting term, when for compared opportunities basis. Adjusted cash Our basis on lease actions our And XXX October lease portfolio We primarily owners. the deeply night. continued basis public us worked We last and quarters use increase third an markets obtaining restricted. for headline reserves holistically XXXX grocery of outparcel our had are quarter million of grocery-anchored agreements, our is compared Sunbelt collections yesterday, trend in with of suburban on repayment grocery-anchored located the for team. our This on our to has for positively, for an retail of in relationship and well supplemental solid include retail This do XX%. $X.X growth. to to our as amount trend to quarter retail allowed compared and quarter performance common these and long-term. deferrals, our our our revenue in solid in third mutually, management retail markets, with revenues, creating were connection that XXX% significantly current tenants approached as cash collections our contained these of our points our of the portfolio. total the deferred XX%. total similar previously over total the and experienced XX%. believe credit beneficial and release supports to Sunbelt financial focus view been engaged the anchored course grocery-anchored centers extended restrictions deferral of on outstanding this disclosures This to positive low We segment, when has in is out-performance a strong
continue we and be to both front, tenants signing successful leasing with current leases. the new On retaining
renewals, square second During of XXX,XXX approximately the signed new increase feet leases of third our feet and quarter quarter, square an activity. over we XX,XXX
retain the rental leasing be to are to with volume our and continue our and pleased rates tenants and We ability we momentum achieving.
comprises our Finally, XX% office of revenues.
these office so markets year-to-date, to only A Atlanta, XX% XX% expiring suburban continue our but office of to home, quality were properties is is in of and mind Sunbelt collected coastal XX% as accelerated demise million multi-year to Raleigh. portfolio rents our and urban quarter-end the feet stand from Sunbelt to we the high have as more We migration enjoy while many square to stability There in work and likely X.X no the a of particularly already doubt across continue related of uncertainty from consequence rather Sunbelt of the markets office underway. and of of office, We than in future have Charlotte our Keep the office that that are leased believe XXXX. such leases XXXX office trends building COVID markets. in Class is
announced recommended by some enhance our flexibility. strategy comments. onto proposals capital improve capital our governance and important to governance Board Recently, Now and we our two
Preferred approval issued both an years. of call Series to second A option XX these its the We to November proposals. on and to measures reduce was five and on from ISS stockholders November First, proposals. recommended believe we special give And that Redeemable meeting our more FOR We Glass time announcing amend bylaws. votes both press adjourned approval both to release stockholder stockholder’s ability proposals allow have our years Company’s stockholders Stock a on friendly the vote to common Lewis Company’s for until to these are XX X
of As favor outstanding a reminder, shares to of these outstanding in two-thirds proposals. vote need our we
November As and shares, X, had of first voted. on these favor had proposals in the Of of yesterday, XX.X% shares approximately and XX.X% second voted XX.X% outstanding respectively.
support we with our We overwhelming to-date. have received are the encouraged that very stockholders from
let Now details walk performance. call more financial Isakson about you over to the turn to John? me through John our
