 Saul Centers, Inc. NYSE: BFS, an equity real estate investment trust REIT, announced its operating results for the quarter ended June 30, 2020 2020 Quarter. Total revenue for the 2020 Quarter decreased to 53.2 million from 58.1 million for the quarter ended June 30, 2019 2019 Quarter. Net income decreased to 10.2 million for the 2020 Quarter from 16.8 million for the 2019 Quarter. The Waycroft mixed-use development opened in April 2020 and, as of August 5, 2020, applications have been received for 217 residential leases, totaling approximately 44 of the available units, with 189 units occupied. Concurrent with the opening in April, interest, real estate taxes and all other costs associated with the residential portion of the property, including depreciation, began to be charged to expense, while revenue continues to grow as occupancy increases. As a result, net income for the 2020 Quarter was adversely impacted by 4.6 million due to the initial operations of The Waycroft. Net income also decreased due to higher credit losses on operating lease receivables and corresponding reserves collectively, 2.8 million. Net income available to common stockholders was 5.5 million 0.24 per diluted share for the 2020 Quarter compared to 10.3 million 0.45 per diluted share for the 2019 Quarter. 