Good afternoon, everyone. I am Ken Bernstein, President and Chief Executive Officer of Acadia Realty Trust, and I will be acting as Chairman of this virtual meeting of shareholders of Acadia Realty Trust. On behalf of the company, I want to welcome you and thank you for joining us. We believe that holding a virtual annual meeting expands shareholder access. Our shareholders in any part of the country can attend this meeting, and non-shareholders can listen to this webcast over the Internet. At this time, I call the meeting to order. Please note that today's meeting is being recorded. As a preliminary matter, please note that any shareholder can vote in real time during the meeting until the polls are closed, and any shareholder may submit questions while the meeting is in progress. We have a support team ready to assist shareholders with any technical difficulties. Please call our support team, the contact for which is posted on the annual meeting site, if you encounter any technical difficulties during the meeting. I hope you accessed this meeting by using our 16-digit control number. If you did not, you will be unable to vote your shares or submit questions during this meeting. The polls to vote online are now open. If you have already given your proxy to management, you need not vote again because the persons designated as proxies will vote for you. However, you may revoke your proxy by voting virtually at this meeting. After the meeting has been adjourned, I will answer appropriate questions of general shareholder interest pertinent to the company and annual meeting matters submitted on the website in the field provided for shareholders. We may not have enough time to answer all questions submitted by shareholders during the meeting. If you would like a direct response after this meeting, please provide your contact information along with your question. John Gottfried, Chief Financial Officer of the company, will act as Inspector of Elections and will tabulate the results of the meeting. Will the Inspector please identify yourself so that shareholders who are participating will know who you are. Good afternoon, everyone. I am John Gottfried. I would like to take this opportunity to introduce some of the officers and trustees who are present at this meeting. Lee S. Wielansky, Lead Trustee. Mark-David Denien, Trustee. Kenneth A. McIntyre, Trustee. William T. Spitz, Trustee. Lynn C. Thurber, Trustee. Hope B. Woodhouse, Trustee. C. David Zoba, Trustee. Jason Blacksberg, Executive Vice President, Chief Legal Officer, Corporate Secretary. John Gottfried, Executive Vice President and Chief Financial Officer. David Buell, Senior Vice President and Chief Accounting Officer. Heather Moore, Senior Vice President, Assistant Secretary, and Chief Compliance Officer. David Crane, Vice President, Accounting. Also present are Yoel Kranz and Elena Hara from the law firm of Goodwin Procter LLP, which advises the company on corporate and securities matters, and Kevin Richards from the firm Deloitte & Touche LLP, which firm serves as the independent auditors of the company. Jason Blacksberg will act as Secretary of this meeting. Will the Secretary please report the number of shares outstanding and entitled to vote at this meeting? The close of business on March 16, 2026 is the record date for determining shareholders entitled to vote at this meeting. As of the record date, 131,067,861 of the company's common shares were outstanding, each share being entitled to one vote on all matters properly brought before this meeting. Available for inspection by shareholders in the offices of the company are copies of the notice of meeting and the proxy statement, the annual report to shareholders, and an affidavit of mailing certifying to the timely mailing on or about March 31, 2026 of the proxy materials to all shareholders of record as of the record date. Copies of the notice of meeting and proxy statement, the proxy statement and annual report are also posted on the virtual meeting site. The Secretary is directed to file the notice of meeting and proxy statement, proxy statement, annual report, and affidavit of mailing with the minutes of the meeting. Under the company's amended and restated bylaws, the presence in person or by proxy of shareholders entitled to cast a majority of all of the votes entitled to be cast at this meeting constitutes a quorum. A preliminary tally by the inspector indicates that a quorum is present. The presence of a quorum will be confirmed by the inspector when he completes the tally of the proxies and ballots. The first item of business is the election of eight trustees to serve until the annual meeting of shareholders in 2027 and until their successors are duly elected and qualified. As indicated in the proxy statement, all eight individuals have been nominated by the Board of Trustees for election as trustees, and the Board of Trustees unanimously recommends that shareholders vote in favor of this proposal. The second item of business is ratification and appointment of Deloitte as the independent registered public accounting firm for the fiscal year ending December 31, 2026. The Audit Committee of the Board of Trustees, which is comprised entirely of independent directors, appointed Deloitte as the company's independent registered public accounting firm to audit the company's financial statement for the fiscal year ending December 31, 2026. The Board of Trustees approved the selection of Deloitte and has asked the shareholders to ratify the appointment. Shareholder ratification is not required under the company's bylaws. The Board of Trustees is submitting this matter to shareholders for ratification as a matter of good corporate governance. If the shareholders do not approve the selection of Deloitte as the company's independent registered public accounting firm, the Board of Trustees and the Audit Committee will reconsider the appointment. The third item of business is to approve on a non-binding advisory basis the compensation of the company's named executive officers as disclosed in the proxy statement. The board of trustees unanimously recommends that shareholders vote in favor of this proposal. The fourth item of business is to act on any such other business as may properly come before the annual meeting, none of which has been introduced. Please vote your shares now with respect to these matters if you have not already voted by proxy before this meeting. If you wish to rescind your proxy and vote on your own behalf, you must submit a ballot now. The polls for each matter to be voted on at this meeting are now officially closed. No additional ballots, proxy, or votes and no changes or revocations will be accepted. Inspector, please tell us the preliminary results for the election of the nominees to the board of trustees. Mr. President, as inspector of elections, I reviewed the proxies received prior to the meeting and the ballots collected during the meeting. With regard to proposal one, based on a preliminary count of the proxies and ballots, each nominee has been elected to the board of trustees at the affirmative vote of a majority of all votes cast at this meeting in person or by proxy. With regard to proposal two, based on a preliminary count of the proxies and ballots, the appointment of Deloitte & Touche LLP as the independent registered public accounting firm of the company for the fiscal year ending December 31st, 2026 has been ratified by the affirmative vote of a majority of the votes cast at this meeting in person or by proxy. With regard to proposal three, based on a preliminary count of all proxies and ballots, the compensation of the company's named executive officers as disclosed in the company's proxy statement, has been approved on a non-binding advisory basis by the affirmative vote of a majority of the votes cast at this meeting in person or by proxy. Thank you, John. I declare that all of the proposals presented at the meeting have been ratified or approved by the shareholders. The final results, including any ballot and proxies recorded during this meeting, will be set forth in the report of the inspector of elections and will be included in the minutes of the meeting. The final results will also be included in our current report on Form 8-K filed with the SEC. That concludes the formal business for this meeting, which is now adjourned. At this point, I will pause to answer any pertinent and appropriate questions of general shareholder interest that may have been submitted by our shareholders. We have allotted 10 minutes to answer questions. There are no questions at this time. I'd like to conclude by thanking everyone for participating in this year's annual meeting of the shareholders of Acadia Realty Trust. Goodbye. This now concludes the meeting. Thank you for attending and have a wonderful rest of your day.