Thank you Steve La Terra

A note of gratitude and congratulations: Steve La Terra, who led TerraLane Communities, IHP Capital Partners' build-for-rent company, retired in September.

Since its inception, TerraLane has been IHP's platform for purpose-built rental housing, and under Steve's leadership, it grew to more than 1,600 units across seven Sun Belt communities. That growth reflects the strength of the IHP team, our capital partners, and a strategy we remain committed to expanding.

Build-for-rent is a core part of IHP's integrated platform alongside our land and housing joint-venture strategies, and TerraLane will continue to be central to how we deliver attainable, well-located rental housing at scale. We're excited about where this business is headed and the team that will keep building it.

To Steve: Thank you for your leadership and your many contributions to IHP. Please join us in wishing him a happy and well-earned retirement!