Strong occupancy and sales growth in the middle …

• Kernffo: 1.21 USD per diluted share for the first quarter.

• The same business NOI growth: 2.1% compared to the previous year.

• Sales growth of the same business: 3.5% increase compared to Q1 2024.

• Occupancy rate: 95.8%, an increase of 120 basis points compared to the previous year.

• Increasing the same business increases: 5.8% compared to the previous year, especially due to land taxes.

• Debt costs: Weighted average debt costs of 3.6%.

• Liquidity: Over 223 million US dollars of liquidity.

Appearance date: May 02, 2025

You can find the complete copy of the earnings call in the complete earnings call.

• The center space (NYSE: CSR) reported on an improvement in the weighted average occupancy of 120 basis for the cross -business portfolio.

• The company achieved a strong average physical occupancy rate of 96% with an extension of around 57% in April.

• In the first quarter, the mixed lasinasing breaks rose by 70 basis points and continued a positive trend in April.

• Centerspace (NYSE: CSR) held a healthy ratio of rent to 21.6%, with the default failures low at around 40 basis points.

• The company confirmed its guidelines for the entire year and predicted a core of 4.98 USD per share and NOI growth in the same business of 2.25%.

• The expenditure of the same business rose by 5.8%compared to the previous year, which is mainly due to basic taxes and caused a challenging comparison of year over the previous year.

• The market for Denver was suspended and has had new leasing rates, although an improvement is expected later a year.

• The retention rates were lower in some markets, especially Denver due to a higher offer and more selection options on the market.

• Omaha recorded a sequential decline in the occupancy by 220 basis points due to forced moving outs in connection with added value projects.

• The company faces a broader market volatility, influences the capital markets and creates an interruption between public and private market prices.

Q: Are you conservative with your projections due to the strong start at the Midwest Apartment Market? A: Anne Olson, President and CEO, explained that they expected strong growth in the middle west, especially in North Dakota, Omaha and Minneapolis. The performance is in line with your expectations and you see the potential for further growth of these markets.

Q: How do you plan the management of occupancy and tariffs during the peak time? A: Anne Olson said that they project the occupancy of around 95% for the year on average, even though they are currently 96%. They plan to advance the interest rates and at the same time maintain a strong occupancy if demand is continued.

Q: Can you explain the lumps of operating costs, especially in real estate taxes and the supply company? A: Bhairav ​​Patel, CFO, found that the lumps are expected in some jurisdiction in the first and fourth quarter due to property tax complaints and increased ratings. You have adapted your expectations of tax increases accordingly.