The company obtained fixed rate debt without having to invest capital.

Long-term, the segment is expected to offer a healthy pipeline but less capital crimps starts now.

The JV partners are committed to additional investments.

Florida, in particular, saw large rent hikes.

More units delivered but slower absorption nationally leads to lower occupancy.

Meanwhile renter-occupied housing numbers continue a decades-long climb upward.

A lot of the activity was renewals, with many firms giving back some space to landlords.

But macroeconomic crosscurrents could lead to some delayed decision-making.