The following is excerpted from the question-and-answer section of the transcript.
(Questions from industry analysts are provided in full, but answers are omitted - download the transcript to see the full question-and-answer session)
Question: Upal Rana - KeyBanc Capital Markets - Analyst
: Great, thank you. So I wanted to kind of talk about the disposition of Superior Pointe. What was the reasoning behind selling it and could you
characterize how the market is currently in terms of the transaction market?
Question: Upal Rana - KeyBanc Capital Markets - Analyst
: Okay, great. That was helpful. And then I noticed you guys broke out the Sun Belt occupancy and the total portfolio occupancy in in this quarter.
Any reason behind that you can maybe add some color to?
Question: Upal Rana - KeyBanc Capital Markets - Analyst
: Okay, and then do you think that does this maybe suggest that those -- for assets that are in those in the other category could potentially be up
for consideration for sale?
Question: Upal Rana - KeyBanc Capital Markets - Analyst
: Okay, great. And the last one for me would be just on the on your GSA exposure. It seems like you have the US attorney's office as one of your
tenants, and it makes about 1.9% of your portfolio. Do you have any expectations for this lease, given the expiration is in '26? If you could give any
color on that, that'd be helpful. Thank you.
Question: Upal Rana - KeyBanc Capital Markets - Analyst
: Okay, great. Thank you for your help.
Question: Barry Oxford - Colliers Securities - Analyst
: Great, thanks, guys. Jamie, as you look at acquisition opportunities, number one, are you seeing any distressed opportunities or look, Barry, I'm not
playing in the distressed opportunities. And then secondly, how do you balance the acquisition cap rate with your cost of capital?
Question: Barry Oxford - Colliers Securities - Analyst
: Great. And Jamie, how do you look at your spec face? Do you want to do more of it?
Question: Barry Oxford - Colliers Securities - Analyst
: Perfect. Thanks so much, guys.
Question: Craig Kucera - Lucid Capital Markets - Analyst
: Yeah, thanks. Good morning, guys. I'm curious about the buyer of Superior Pointe. Are they expecting to utilize that as office for the longer term
or potentially convert it to another use?
Question: Craig Kucera - Lucid Capital Markets - Analyst
: Got it. Changing gears, you mentioned in your guidance there's no dispositions, but are you contemplating any lender transfers?
Question: Craig Kucera - Lucid Capital Markets - Analyst
: Got it. You mentioned the large known vacates in the first half of '25, but when do you anticipate the lease but not commenced will begin paying
rent in 2025?
Question: Craig Kucera - Lucid Capital Markets - Analyst
: Okay, great. Just one more for me. I just wanted to follow up on St. Petersburg. Can you talk or give us any color about what the anticipated
economics of a deal there might look like? And given that there's condo sales that might start '25, is there any impact to guidance or in the guidance?
Question: Craig Kucera - Lucid Capital Markets - Analyst
: Okay, fair enough. Thanks.
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