Net income rose to $147.9 million for the quarter ended March 31, 2026, compared to $52.9 million in the prior year period. Total revenues increased 10.0% to $194.8 million, driven by rental rate growth and contributions from acquired properties. A $109.0 million gain was recognized from reclassifying a Phoenix land site lease from an operating lease to a sales-type lease. Cash-basis same-store net operating income grew by 8.7% year-over-year, reflecting strong internal growth. Quarter-end occupancy stood at 94.3%, with a high tenant retention rate of 85.7% for the period. Funds from Operations (FFO) reached $89.5 million, or approximately $0.67 per share, compared to $90.2 million in Q1 2025.