Rollover & Leasing
Who's expiring, when, and what it's worth — the multifamily waterfall and the commercial concentration picture.
Meridian Health Systems = 34% of CRE NOI
MF leases rolling next Q
31%
589 of 1,900 units
CRE WALT
3.4 yrs
weighted avg lease term
Largest tenant
34%
Meridian Health Systems · expires 2027 Q2
Capture at renewal
$951.7K
loss-to-lease in rolling MF leases
Multifamily expiration waterfall
Share of leases expiring, next 4 quarters
31%
Q3 '26~589 units
22%
Q4 '26~418 units
18%
Q1 '27~342 units
29%
Q2 '27~551 units
Heavy Q3 rollover is also the loss-to-lease capture window — renewal pricing does the value-add work if you let it.
Commercial tenants
WALT 3.4 years · concentration & credit
Meridian Health Systems
Westshore Exchange · 29.8K SF · $28.40/SF
Investment grade34% of NOI
Gulf Logistics Co.
Gateway Commerce Center · 41.0K SF · $11.20/SF
Strong regional12% of NOI
Brightline Fitness
Fowler Retail Commons · 18.4K SF · $20.50/SF
Strong regional10% of NOI
Nova Robotics
Orlando Tech Row · 24.6K SF · $30.80/SF
Investment grade19% of NOI
Copper & Oak Hospitality
Ybor Works · 12.2K SF · $25.60/SF
Local8% of NOI
Suncoast Distribution
Pinellas Trade Park · 41.0K SF · $12.60/SF
Strong regional14% of NOI
Meridian Health Systems is 34% of commercial NOI and expires 2027 Q2 — start the renewal conversation 18 months out, not 6.