John Pawlowski

a question for you on the Avalon Sunset Tower sale

how much have you had to lower pro forma rents just given the softness in market rents

Did I interpret your comments on the D.C. cap rates accurate

what rough range of replace discounts or replacement costs are you able to buy at

could you give me an estimate on like where these would be yielding today?

the specific legislation. And is there any other concerning draft legislation in other states or markets

what proportion of tenants are more of the traditional wet lab users versus other perhaps AI or almost quasi traditional office users?

Do you expect occupancy declines in the near term as the new operators take over?

how high of odds are there that you're going to start these lab developments in West Cambridge?

can you just spend a few minutes talking through the West Cambridge development? I don't have a good sense of what the total construction costs might be

Can you give us a sense for the goalposts? What kind of range new lease growth rates will be for the best swath of the portfolio and the weakest?

have you had to change the types of assets you're actually selling?

Are you looking to accelerate? Do you think it makes sense to accelerate the pace of capital deployment or throttle back in the Southeast and Southwest markets?

Did I interpret it right that the guidance assumes just very modest acceleration in job growth

how your approach will be different either philosophically or the data you're using

outside of the D.C. Metro, what other markets do you see a real cooling of demand in the last month or 2?

Just curious what your local team is seeing on the ground in terms of foot traffic, pricing power on existing tenants or new tenants

I'm curious if you bifurcated that between urban and suburban. Is it fair to assume that Urban's down significantly more than that 30%

is it fair to assume that currently the best use of the funds is share repurchases on your guys' math?

what rough range of disposition volume could we expect this year and then the most likely use of those funds?

I think you're expecting maybe a 5% decline on your insurance and other expenses this year. Curious if the market is healing faster and more dramatically than you thought

Has your local team seen a real second winds of demand to start the year, either in Seattle or the Bay Area or it's more of you're hoping that the positive momentum in the market continues graduall...

blended spreads for the first half of this year in Seattle, do you expect not to look meaningfully different than the second half of last year?

in your Seattle portfolio, are you seeing a real uptick in notices to move out? Can you share any kind of forward-looking [ blendedly ] spread expectation just given the lag between the layoff anno...

Can you give us a sense where the new preferred equity investment in the new JV sits in the capital stack and how much total leverage is on this -- is going to be on this development project.

Just curious if there's other indicators you look at a side of rent growth that suggests that the job growth is really gaining momentum in the Bay Area.

can you provide details around your comment that you believe the Bay Area job growth is better than what the BLS is reporting because the jobs data just in terms of nonfarm jobs both from an absolu...

have the dispositions been tilted towards what you consider lower cap rate assets, or more tilted towards higher cap rate assets that might have higher CapEx and/or lower forward growth

Are there any other line items surprising positively or negatively as 2026 unfolds

are you seeing signs where municipalities are assessing property taxes more aggressively on investor-owned homes versus owner-occupied

your comments that there are 0 concessions on your scattered site portfolio, does that represent a meaningful improvement from this time last year

can you help frame like the '23 vintages of acquisitions and '24 vintages of acquisitions, how NOI has performed relative to your underwriting to date

My question on the proportion of the book that's multiyear term leases, so 24-month leases, I think it's 25% of total leases

are you actively considering expanding into international markets? Into Dallas when I hear we're exploring avenues outside of traditional SFR

could you share the range of cap rates on the four dispositions in the quarter as well as the, I guess, the effective cap rate on the Portland, Oregon asset you consolidated

is there is there a significant prepayment risk

could you share the underwritten year 1 NOI yield on the Northern Virginia acquisition

could you share the yield you'd be underwriting on current market rents

Can you help frame how NOI is performing on the 2024 vintage of senior housing acquisitions versus expectations at underwriting?

Do you think it's more to do with the acceleration of retirement-age individuals, or do you think part of this occupancy gain is due to maybe a psychological effect