Average Effective Annual Base Rents The following table provides a summary of the average effective annual base rents across our portfolio as of December 31, 2024:
Average Effective Annual Base Rent per Leased Square Foot / Units
Property Type Multifamily (1) Industrial (2) Office (2) Self-storage (1)
$ $ $ $ $
18,082 25,109 7.42 34.20 16.57
Single-family rental (1)
(1) For multifamily, single-family rental, and self-storage properties, average effective annual base rent per leased unit represents the annualized base rent for the year ended December 31, 2024. The average effective annual base rent includes the effects of rent concessions and abatements and excludes tenant recoveries, straight-line rent, and above- market and below-market lease amortization. (2) For industrial and office properties, average effective annual base rent represents the annualized base rent per leased square foot for the year ended December 31, 2024. The average effective annual base rent includes the effects of rent concessions and abatements and excludes tenant recoveries, straight-line rent, and above-market and below-market lease amortization.
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