On Wednesday, Crombie shared its results for the second quarter ended June 30, 2024. "Our strategic focus remains on value creation, prioritizing our solid financial position and prudent approach to capital allocation, while advancing key initiatives," said Mark Holly, our President & CEO. "In the second quarter, we received a positive trend change to our credit rating, engaged in acquisition and disposition activity, and invested in our development program, unlocking embedded value and growth throughout our grocery-anchored portfolio." Strong leasing activity this quarter contributed to an increase of 3.4% in same-asset property cash NOI and normalized FFO per unit growth of 6.7%. We secured renewal spreads of 9.6% on 293,000 square feet of GLA, with 89,000 square feet committed at $21.34 per square foot —19% above our current in-place rent while maintaining a robust balance sheet with ample liquidity and leverage ratios within target ranges. Looking ahead, we remain dedicated to providing attractive returns and sustainable growth for our Unitholders. Read more about Crombie's Q2 results here: https://lnkd.in/enXDwYqy
Sales Manager - LGI Homes
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