The company said its Operating Partnership issued $485.0 million of 3.25% Exchangeable Senior Notes due 2029 in a private placement on January 11, 2024, with net proceeds of approximately $471.5 million, and that it repaid its $600.0 million 3.95% senior unsecured notes at maturity on January 16.

10-QQuarterly reportFiled Oct 30, 2024Period of report Sep 30, 2024Summary published (UTC) Oct 24, 2026

Key points

AI summary

The company said its Operating Partnership issued $485.0 million of 3.25% Exchangeable Senior Notes due 2029 in a private placement on January 11, 2024, with net proceeds of approximately $471.5 million, and that it repaid its $600.0 million 3.95% senior unsecured notes at maturity on January 16.
The company said it acquired the fee interest in Virginia Gateway on May 31, 2024 for $215.0 million and the fee interest in Pinole Vista Crossing on July 31 for $60.0 million, and that it sold Third Street Promenade for $103.0 million during the 9 months ended September 2024, resulting in a gain on sale of $52.0 million.
The company said it issued 1,282,938 common shares at a weighted average price of $113.27 per share under its ATM program in Q3 2024, raising net cash proceeds of $143.8 million, and that as of September 30, 2024 it had capacity to issue up to $199.4 million in common shares under the program.
The company said net cash provided by operating activities was $455.0 million, net cash used in investing activities was $375.5 million, and net cash used in financing activities was $233.9 million for the 9 months ended September September 30, 2024 2024, and that it had cash and cash equivalents of $97.0 million with no balance outstanding under its revolving credit facility.

Key figures

Quarter ended September 30, 2024

Revenue: $304M
Operating income: $106M
Net income: $61M
EPS: $0.70

From the XBRL financial data filed with the SEC · not processed by AI.

Summary

AI-written

Analysis scope · Management's discussion (MD&A)We analyzed excerpts of the Management's Discussion and Analysis (MD&A) section (with omissions). Other sections of the report, such as the notes to the financial statements and risk factors, were not reviewed.

January 2024 3.25% Exchangeable Notes Issued, $600.0 million Senior Notes Repaid

The company said its Operating Partnership issued $485.0 million of 3.25% Exchangeable Senior Notes due 2029 in a private placement on January 11, 2024, with net proceeds of approximately $471.5 million, and that it repaid its $600.0 million 3.95% senior unsecured notes at maturity on January 16.

Source · Based on the MD&A text of the filing

Virginia Gateway and Pinole Vista Crossing Acquired, Third Street Promenade Sold

The company said it acquired the fee interest in Virginia Gateway on May 31, 2024 for $215.0 million and the fee interest in Pinole Vista Crossing on July 31 for $60.0 million, and that it sold Third Street Promenade for $103.0 million during the 9 months ended September 2024, resulting in a gain on sale of $52.0 million.

Source · Based on the MD&A text of the filing

Common Shares Issued Under ATM Program and Remaining Capacity

The company said it issued 1,282,938 common shares at a weighted average price of $113.27 per share under its ATM program in Q3 2024, raising net cash proceeds of $143.8 million, and that as of September 30, 2024 it had capacity to issue up to $199.4 million in common shares under the program.

Source · Based on the MD&A text of the filing

9-Month Operating, Investing and Financing Cash Flows and Year-End Liquidity

The company said net cash provided by operating activities was $455.0 million, net cash used in investing activities was $375.5 million, and net cash used in financing activities was $233.9 million for the 9 months ended September September 30, 2024 2024, and that it had cash and cash equivalents of $97.0 million with no balance outstanding under its revolving credit facility.

Source · Based on the MD&A text of the filing

AI summarized the filing and translated the summary into English; it may differ from the original. For reference only, not investment advice. AI translated the published Korean report into English. Figures are copied as filed, not recalculated.

Original filing

The filing as submitted to SEC EDGAR. You can check the figures and statements of this summary against it.

View the original filing on SEC EDGAR ↗

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