Before we start, I'd like to address forward-looking statements that may be discussed on the call. Forward-looking statements involve risks and uncertainties. Actual future performance, outcomes and results may differ materially from those expressed in these forward-looking statements. Please refer to the documents filed by Regency Centers Corporation with the SEC, specifically the most recent reports on Forms 10-K and 10-Q, which identify important risk factors that could cause actual results to differ from those contained in these forward-looking statements.Bruce -- oh, sorry, Hap? Martin E. Stein Thank you, Lisa, and good morning. As Brian and Bruce will discuss in more detail, we made significant progress during the first quarter toward achieving our key objectives in all aspects of the business. Operating fundamentals are definitely trending positively. We ended the quarter at 93.6% leased. Same property net operating income was up more than 4%. Move-outs and bad debts are at prerecession levels. Leasing demand remains robust, including small shop space, and we're starting to experience some pricing power. While we're gratified by these results, it's still early in the year. We are keenly focused on building on this positive momentum especially growing base rent and doing the heavy lifting needed to firmly re-establish Regency's long-term NOI growth rate at 3% or more. We're gaining traction on the sale of targeted nonstrategic assets and the potential progress is encouraging. Regarding recycling that capital into acquisitions, we're seeing some opportunities to buy dominant centers with excellent growth prospects in Regency's 2,000 target markets. Given the intense amount of competition, buying great assets is one of the most challenging aspects of our plan. In any event, as we've shared with you, we intend to be a net seller in 2012 in order to modestly reduce leverage and increase financial flexibility. Our post-recession developments -- redevelopments and expansions are performing well. As a matter of fact, in excess of our underwriting. We're on track to achieve returns in excess of 9.5% on the $200 million of incremental capital for the projects started after January 2009. As supported by preferred stock transactions, almost $600 million of capacity on the line of credit in term loan and mortgage refinancings in our co-investment partnerships, we have the capability to take advantage of all facets of the capital markets spectrum. And we will continue to opportunistically improve upon our balance sheet that is already in solid shape.