“Well, look, I mean I think -- I see it continuing. We see good demand. We are tied to the general economic condition, but supply-demand is in our favor.”

In context

“e did our offering earlier in this year and pre-funded the balance of our unsecured maturities for this year. So, we're carrying cash and we'll pay off the June maturities at par at maturity. Ki Bin Kim: Okay. Thank you. Brian McDade: Sure. Operator: Thank you. The next question comes from Michael Goldsmith from UBS. Please proceed with your question, Michael. Michael Goldsmith: Good afternoon. Thanks a lot for taking my question. David, your base minimum rent growth is accelerating. You have a nice SNO pipeline. You're talking about blowing past your 2% NOI growth guidance for the year. All sounds great. I guess the question is, how sustainable is this algorithm? How long can it continue? What are the factors that are ultimately going to weigh on this momentum that you have? David Simon: Well, look, I mean I think -- I see it continuing. We see good demand. We are tied to the general economic condition, but supply-demand is in our favor. I think our spot in our industry is well established. We have the confidence with our retail partners. We know what we want to do with our properties. We're not -- we don't [indiscernible] 1,000, we make mistakes all the time, but we know where we want to position them. And so, I hate using kind of this, but I -- it's really going to be the external environment that could slow this down, meaning what happens, do we do a recession or that? And I honestly think some of these markets are -- when people ask me that I actually think if we do go into recession, it will be "kind of regional recession." I just don't see markets right now, they may flatten, they may not grow as much, but I don't see Florida's, Texas, Nevada's of the world, Georgia's, I just don't see them slowing. I don't see them”