The company said its preliminary quarter-to-date Same Store results for 2025 April–May showed blended lease rate growth of 4.1% (vs. 3.6% in Q1 2025) and average occupancy of 97.3% (vs. 97.2% in Q1 2025).

8-KRegulation FD DisclosureFiled May 30, 2025Period of report May 30, 2025Summary published (UTC) Oct 17, 2026

Key points

AI summary

The company said its preliminary quarter-to-date Same Store results for 2025 April–May showed blended lease rate growth of 4.1% (vs. 3.6% in Q1 2025) and average occupancy of 97.3% (vs. 97.2% in Q1 2025).
In the same April–May preliminary results, the company said renewal lease rate growth was 4.7% (vs. Q1 2025 5.2%) and new lease rate growth was 2.5% (vs. Q1 2025 (0.1%)).
The company said it managed a total of 110,257 homes as of March 31, 2025, including 85,261 wholly owned homes, 7,660 JV-owned homes and 17,336 3rd party managed homes. It said about 96% of its wholly owned portfolio is located in the Western U.S., Sunbelt and Florida.
The company said it had more than 1,800 homes under construction in its BTR development pipeline as of March 31, 2025. It also said its target investment yield for its homebuilder partnership strategy is approximately 6%.

Summary

AI-written

Analysis scope · Filing body and confirmed press-release exhibitWe analyzed the filing body and confirmed exhibits. This is not a review of other exhibits, investor presentations or the full earnings call.

April–May Same Store Lease Rate Growth (Preliminary)

The company said its preliminary quarter-to-date Same Store results for 2025 April–May showed blended lease rate growth of 4.1% (vs. 3.6% in Q1 2025) and average occupancy of 97.3% (vs. 97.2% in Q1 2025).

Source · Based on the filing body and exhibits

New and Renewal Lease Rate Growth Comparison

In the same April–May preliminary results, the company said renewal lease rate growth was 4.7% (vs. Q1 2025 5.2%) and new lease rate growth was 2.5% (vs. Q1 2025 (0.1%)).

Source · Based on the filing body and exhibits

Home Ownership, Management Scale and Regional Mix

The company said it managed a total of 110,257 homes as of March 31, 2025, including 85,261 wholly owned homes, 7,660 JV-owned homes and 17,336 3rd party managed homes. It said about 96% of its wholly owned portfolio is located in the Western U.S., Sunbelt and Florida.

Source · Based on the filing body and exhibits

Homebuilder Partnerships and Build-To-Rent Pipeline

The company said it had more than 1,800 homes under construction in its BTR development pipeline as of March 31, 2025. It also said its target investment yield for its homebuilder partnership strategy is approximately 6%.

Source · Based on the filing body and exhibits

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.

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