Brixmor Property Group Inc.

question and answer session will follow the formal presentation. If anyone should require operator assistance during the conference, please press star zero on your telephone keypad. Please note this conference is being recorded. I will now turn the conference over to Stacey Slater, Senior Vice President, Investor Relations and Capital Markets. Thank you. You may begin.

Thank you, Operator, and thank you all for joining Bricksmore's third quarter conference call. With me on the call today are Brian Finnegan, Interim CEO and the company's President and Chief Operating Officer, and Steve Gallagher, Chief Financial Officer. Mark Horgan, Executive Vice President and Chief Investment Officer, will also be available for Q&A. Before we begin, let me remind everyone that some of our comments today may contain forward-looking statements that are based on certain assumptions and are subject to inherent risks and uncertainties. as described in our SAC filings, and actual future results may differ materially. We assume no obligation to update any forward-looking statements. Also, we will refer today to certain non-GAAP financial measures. Further information regarding our use of these measures and reconciliations of these measures to our GAAP results are available in the earnings release and supplemental disclosure on the investor relations portion of our website. Before turning the call to Brian, please note that out of respect for Jim's privacy, we will not be addressing any questions regarding his medical leave, and we refer you to the company's October 16th press release. We do ask that you join our Bricksmar family in wishing Jim good health. Given the number of participants on the call, we kindly ask that you limit your questions to one per person. If you have additional questions, please re-queue. At this time, it's my pleasure to introduce Brian Finnegan.

Thanks, Stacey, and good morning, everyone. I first want to say on behalf of the entire Brooksmore team that our thoughts go out to Jim and his family. We care about him deeply and are grateful for the well wishes and support for him that we have received from across the industry. In the meantime, the team he built remains focused on executing our business plan, which as demonstrated in the third quarter, continues to deliver outstanding results. As usual, those results begin with leasing. as this quarter we executed 1.5 million square feet of new and renewal leases at a blended cash spread of 18%. New leases during the quarter were signed at a record rate of $25.85 per square foot, as our team continues to capitalize on healthy demand to be in our well-located shopping centers. We're seeing strong activity in both anchors and small shops, with small shop occupancy hitting another record at 91.4%, with room to run as we deliver our reinvestment program. And on the anchor front, the team is making progress on backfilling the spaces recaptured over the past year, with new leases executed during the quarter on those spaces with the likes of Marshalls, Total Wine & More, Bob's Discount Furniture, and Cavender's Boot City. Thanks to the continued strength in leasing, The signed but not yet commenced pipeline remains above $60 million, despite commencing a record $22 million of ABR during the quarter, which Steve will comment on further. New tenant openings are among the most exciting aspects of our business, and the third quarter included Sprouts Farmer's Market in Knoxville, Tennessee, Trader Joe's in suburban Denver, and several openings at two of our most impactful redevelopments. the Davis Collection in Davis, California, and Block 59 in suburban Chicago. Staying with reinvestment, during the quarter we stabilized eight value-enhancing projects with a total cost of approximately $46 million at an average incremental yield of 11%. This included College Plaza in Long Island, New York, where we added a new Chick-fil-A out parcel and reconfigured existing inline space for Burlington, five below in Ulta, to complement a strong-performing ShopRite supermarket. We also stabilized the first phase of Barn Plaza in suburban Philadelphia, where earlier this year we opened Bucks County's first new Whole Foods market. Thanks to the successful execution of the initial phase of that project by our North Region team, we're adding a second phase into our active pipeline this quarter, which includes first to portfolio new leases with Pottery Barn, Williams-Sonoma, Sephora, and Love Sack. This is one of the many examples across the portfolio where our reinvestment program is enabling us to attract a much higher caliber of tenant than we have historically. Finally, on reinvestment, our partnership with Publix continues to grow as we announced our second new project of the year in Hilton Head, South Carolina, with several more to follow in the future pipeline. Our percentage of ABR from grocery anchored centers now sits at 82%. And as we've seen a 35% increase in year-over-year traffic when we add a grocer, we're thrilled with the opportunities to add more grocers to the portfolio as we execute our reinvestment program. Switching to transactions, as we discussed at length on our second quarter call, we closed on the $223 million acquisition of La Sentera at Cinco Ranch in suburban Houston and are pleased with our team's progress out of the gate. with seven new leases either signed or in process, all well ahead of our initial underwriting. Mark and team continue to raise attractive capital as we exited eight assets where we had maximized value since our last earnings call, bringing our total disposition volume year-to-date to $148 million. We continue to evaluate opportunities to put our platform to work and still expect to be net acquirers at year-end, To that end, we have approximately 190 million of value-added acquisitions under control and look forward to sharing more about these exciting acquisitions soon. To summarize, our team continues to execute on all fronts, attracting great tenants in a supply-constrained environment at the highest rents we've ever achieved. Our redevelopment platform continues to deliver low-risk, compelling returns with several years of runway for future growth. And on the transaction front, we're well positioned to continue to recycle capital out of low growth assets into those where we see the opportunity to create value through our operating platform. Thank you to the Bricksmore team for your continued focus and effort as we continue to create value for our stakeholders. With that, I'll hand the call over to Steve for a more detailed review of our financial results. Steve?