“And getting into your first point, will we beat it this year? It will be close. I'm not -- I can't guarantee it, but I am hopeful that we will beat that number, in the not -- certainly within the next 12 months, assuming we can continue to maintain reasonably decent economic conditions.”

In context

“t when we're -- and again every lease is different, every relationship is different, rollovers -- some rollovers go down. But I would say, generally speaking, we are finally seeing renewals that are overall above the expiry rents. So that -- and part of that is just supply-demand is in our favor and we are getting -- because one is, I think, from the retailers' point of view, there is a real appreciation for bricks-and-mortar, one. Two is they know we're a landlord that they can rely on and that we're going to do the right thing to maintain and reinvest in these properties and we have the capability of doing so. And generally, it's more demand that we're seeing, and the retailers are in -- having survived COVID are in better shape and want to grow their business. So that is all happening. And getting into your first point, will we beat it this year? It will be close. I'm not -- I can't guarantee it, but I am hopeful that we will beat that number, in the not -- certainly within the next 12 months, assuming we can continue to maintain reasonably decent economic conditions. Derek Johnston: All right. Thank you. David Simon: Thank you. Operator: The next question comes from Floris van Dijkum from Compass Point. Please proceed with your question, Floris. Floris van Dijkum: Thanks. Good evening, guys. David, so maybe, if you can give us a little bit more of an update, I know, in the past you've talked about your signed non-open pipeline being around 200 basis points. Your leased occupancy just increased by 110 basis points. Is that SNO pipeline relatively similar? And then maybe, I mean, the -- if I look at the base rent going up by 3.1% approximately and if you get about 10% of your space back, I mean, it assumes pretty healthy re-leasing spreads, if my math is correct. I mean, how should we be thinking? Clearly, it appears that leasing spreads are acceleratin”