Armada Hoffler Properties, Inc.

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Good morning, ladies and gentlemen, and welcome to the Armada Health Fair Properties Fourth Quarter 2025 Earnings Call. At this time, all lines are in listen-only mode. Following the presentation, we will conduct a question-and-answer session. If at any time during this call you require immediate assistance, please press star zero for the operator. This call is being recorded on Tuesday, February 17, 2026. I would now like to turn the conference over to Chelsea Forrest. Vice President of Investor Relations, please go ahead.

Good morning, and thank you for joining Armada Hossler's fourth quarter 2025 earnings and 2026 guidance conference call and webcast. On the call this morning, in addition to myself, is Sean Tibbetts, Chairman, President, and CEO, Matthew Barnes-Smith, CFO, and Craig Romero, EVP of Asset Management. The press release announcing our fourth quarter earnings along with our supplemental and guidance packages were distributed yesterday afternoon. A replay of this call will be available shortly after the conclusion of the call through March 19, 2026. The numbers to access the replay are provided in the earnings press release. For those who listened to the rebroadcast of this presentation, we remind you that the remarks made herein are as of today, February 17th, 2026, and will not be updated subsequent to this initial earnings call. During this call, we may make forward-looking statements, including statements related to the future performance of our portfolio, the potential dispositions of our multi-family portfolio, our real estate financing program, and our construction business, and the use of the proceeds from such dispositions. our rebranding and the efforts thereof, the consequences of our strategic transformation, the impact of acquisitions and dispositions, our liquidity position, our portfolio performance, and financing activities, as well as comments on our outlook. Listeners are cautioned that any forward-looking statements are based upon management's beliefs, assumptions, and expectations, taking into account information that is currently available. These beliefs, assumptions, and expectations may change as a result of possible events or factors, not all of which are known and many of which are difficult to predict and generally beyond our control. These risks and uncertainties can cause actual results to differ materially from our current expectations, and we advise listeners to review the forward-looking statement disclosure and our press release that we distributed yesterday and the risk factors disclosed in the documents we have filed with or furnished to the SEC. We will also discuss certain non-GAAP financial measures, including but not limited to FFO and normalized FFO. Definitions of these non-GAAP measures, as well as reconciliations to the most comparable GAAP measures, are included in the quarterly supplemental package, which is available on our website at ArmadaHoffler.com. I will now turn the call over to Sean.