we believe the pricing of assets that no longer meet our ownership criteria remains reasonably stable while the price of our common shares remains below our net asset value . given these conditions , we have been focused on dispositions of properties with risk factors that impact our willingness to own them going forward , and although we intend to continue with this strategy , our dispositions are expected to decrease to a normalized level in 2020. we intend to utilize the proceeds from dispositions to , among other things , fund acquisitions along with both new development and redevelopment projects . 25 as we discussed above , we continuously recycle non-core operating centers that no longer meet our ownership criteria and that will provide capital for growth opportunities . during 2019 , we disposed of real estate assets , which were owned by us either directly or through our interest in real estate joint ventures or partnerships , with our share of aggregate gross sales proceeds totaling $ 451.7 million . we have approximately $ 96 million of dispositions currently under contracts or letters of intent ; however , there are no assurances that these transactions will close at such prices or at all . for 2020 , we expect the volume of dispositions will significantly decrease from those in 2019 , and we anticipate that our normal disposition recycling program will range from $ 100 million to $ 150 million . we intend to continue to actively seek acquisition properties that meet our return hurdles and to actively evaluate other opportunities as they enter the market . due to the significant amount of capital available in the market , it has been difficult to participate at price points that meet our investment criteria . during 2019 , we acquired six centers and other property , of which five are grocery-anchored shopping centers and one is in a 51 % unconsolidated real estate joint venture , adding 828,000 square feet to the portfolio with our share of the aggregate gross purchase price totaling $ 246.4 million . for 2020 , we expect to complete acquisition investments in the range of $ 100 million to $ 150 million ; however , there are no assurances that this will actually occur . we intend to continue to focus on identifying new development projects as another source of growth , as well as continue to look for redevelopment opportunities . the opportunities for additional new development projects are limited at this time primarily due to a lack of demand for new retail space . during 2019 , we invested $ 150.4 million in two mixed-use new development projects that are partially or wholly owned and a 30-story , high-rise residential tower at our river oaks shopping center in houston , texas , and we invested $ 19.2 million in 11 redevelopment projects that were partially or wholly owned . during 2019 , we completed eight redevelopment projects , which added approximately 101,000 square feet to the portfolio with an incremental investment totaling $ 26.7 million . for 2020 , we expect to invest in new development and redevelopments in the range of $ 75 million to $ 125 million , but we can give no assurances that this will actually occur . we strive to maintain a strong , conservative capital structure which should provide ready access to a variety of attractive long and short-term capital sources . we carefully balance lower cost , short-term financing with long-term liabilities associated with acquired or developed long-term assets . we continue to look for transactions that will strengthen our consolidated balance sheet and further enhance our access to various sources of capital , while reducing our cost of capital . during 2019 , we repaid a $ 50 million secured fixed-rate mortgage with a 7 % interest rate . additionally , proceeds from our disposition program and cash generated from operations further strengthened our balance sheet in 2019. due to the variability in the capital markets , there can be no assurance that favorable pricing and accessibility will be available in the future . operational metrics in assessing the performance of our centers , management carefully monitors various operating metrics of the portfolio . as a result of our strong leasing activity and low tenant fallout , the operating metrics of our portfolio remained strong in 2019 as we focused on increasing rental rates and same property net operating income ( `` spnoi `` and see non-gaap financial measures for additional information ) . our portfolio delivered solid operating results with : occupancy of 95.2 % at december 31 , 2019 ; an increase of 3.3 % in spnoi that includes redevelopments for the twelve months ended december 31 , 2019 over the same period of 2018 ; and rental rate increases of 16.3 % for new leases and 10.2 % for renewals during the three months ended december 31 , 2019 . 26 below are performance metrics associated with our signed occupancy , spnoi growth and leasing activity on a pro rata basis : replace_table_token_8_th replace_table_token_9_th _ ( 1 ) see non-gaap financial measures for a definition of the measurement of spnoi and a reconciliation to net income attributable to common shareholders within this section of item 7. replace_table_token_10_th _ ( 1 ) average external lease commissions per square foot for the three and twelve months ended december 31 , 2019 were $ 6.82 and $ 5.91 , respectively . changing shopping habits , driven by rapid expansion of internet-driven procurement , led to increased financial problems for many retailers , which had a negative impact on the retail real estate sector . we continue to monitor the effects of these trends , including the impact of retail customer spending over the long-term . story_separator_special_tag amounts outstanding under the unsecured revolving credit facility are retired as needed with proceeds from the issuance of long-term debt , equity , cash generated from the disposition of properties and cash flow generated by our operating properties . as of december 31 , 2019 , we had available borrowing capacity of $ 497.9 million under our unsecured revolving credit facility , and our debt maturities for 2020 total $ 22.7 million . as of december 31 , 2019 , we had cash and cash equivalents available of $ 41.5 million . currently , we anticipate our disposition activities to continue , albeit at a lower rate than previous periods , and estimate between $ 100 million to $ 150 million in dispositions for 2020. we believe net proceeds from planned capital recycling , combined with our available capacity under the revolving credit and short-term borrowing facilities , will provide adequate liquidity to fund our capital needs , including acquisitions , redevelopment and new development activities and , if necessary , special dividends . in the event our capital recycling program does not progress as expected , we believe other debt and equity alternatives are available to us . although external market conditions are not within our control , we do not currently foresee any impediments to our entering the capital markets if needed . during 2019 , our share of aggregate gross sales proceeds from dispositions of centers owned by us , either directly or through our interest in real estate joint ventures or partnerships , totaled $ 451.7 million . operating cash flows from assets disposed are included in net cash from operating activities in our consolidated statements of cash flows , while proceeds from these disposals are included as investing activities . we have non-recourse debt secured by acquired or developed properties held in several of our real estate joint ventures and partnerships . at december 31 , 2019 , off-balance sheet mortgage debt for our unconsolidated real estate joint ventures and partnerships totaled $ 264.8 million , of which our pro rata ownership is $ 86.8 million . scheduled principal mortgage payments on this debt , excluding deferred debt costs and non-cash related items totaling $ ( .6 ) million , at 100 % are as follows ( in millions ) : replace_table_token_13_th 32 we generally have the right to sell or otherwise dispose of our assets except in certain cases where we are required to obtain our joint venture partners ' consent or a lender 's consent for assets held in special purpose entities . investing activities acquisitions during 2019 , we acquired six grocery-anchored shopping centers and other property , one of which is in a 51 % unconsolidated real estate joint venture , with our share of the aggregate gross purchase price totaling $ 246.4 million . dispositions during 2019 , we sold 15 centers and other property , including real estate assets owned through our interest in unconsolidated real estate joint ventures and partnerships . our share of aggregate gross sales proceeds from these transactions totaled $ 451.7 million and generated our share of the gains of approximately $ 190.8 million . new development/redevelopment at december 31 , 2019 , we had two mixed-use projects and a 30-story , high-rise residential tower at our river oaks shopping center under development with approximately .2 million of total square footage for retail and 962 residential units , that were partially or wholly owned . we have funded $ 368.4 million through december 31 , 2019 on these projects . upon completion , we expect our aggregate net investment in these multi-use projects to be $ 485.0 million . at december 31 , 2019 , we had 11 redevelopment projects in which we plan to invest approximately $ 74.2 million . upon completion , the average projected stabilized return on our incremental investment on these redevelopment projects is expected to be between 8.0 % and 12.0 % . during 2019 , we completed eight redevelopment projects , which added approximately 101,000 square feet to the portfolio with an incremental investment totaling $ 26.7 million . we typically finance our new development and redevelopment projects with proceeds from our unsecured revolving credit facility , as it is our general practice not to use third party construction financing . management monitors amounts outstanding under our unsecured revolving credit facility and periodically pays down such balances using cash generated from operations , from debt issuances , from common and preferred share issuances and from the disposition of properties . capital expenditures capital expenditures for additions to the existing portfolio , acquisitions , tenant improvements , new development , redevelopment and our share of investments in unconsolidated real estate joint ventures and partnerships are as follows ( in thousands ) : replace_table_token_14_th the increase in capital expenditures is attributable primarily to the acquisition of six centers and the net increased activity from our new development and redevelopment centers . for 2020 , we anticipate our acquisitions to total approximately $ 100 million to $ 150 million . our new development and redevelopment investment for 2020 is estimated to be approximately $ 75 million to $ 125 million . for 2020 , capital and tenant improvements is expected to be consistent with 2019 expenditures . no assurances can be provided that our planned activities will occur . further , we have entered into commitments aggregating $ 98.5 million comprised principally of construction contracts which are generally due in 12 to 36 months and anticipated to be funded under our unsecured revolving credit facility or through the use of excess cash . 33 capital expenditures for additions described above relate to cash flows from investing activities as follows ( in thousands ) : replace_table_token_15_th capitalized soft costs , including payroll and other general and administrative costs , interest , insurance and real estate taxes , totaled $ 22.9 million and $ 16.2 million for the year ended december 31 , 2019

debt total debt outstanding was $ 1.7 billion at december 31 , 2019 and consisted of $ 17.4 million , which bears interest at variable rates , and $ 1.7 billion , which bears interest at fixed rates . additionally , of our total debt , $ 281.6 million was secured by operating centers while the remaining $ 1.5 billion was unsecured . at december 31 , 2019 , we have a $ 500 million unsecured revolving credit facility , which expires in march 2024 and provides borrowing rates that float at a margin over libor plus a facility fee . at december 31 , 2019 , the borrowing margin and facility fee , which are priced off a grid that is tied to our senior unsecured credit ratings , were 82.5 and 15 basis points , respectively . the facility also contains a competitive bid feature that allows us to request bids for up to $ 250 million . additionally , an accordion feature allows us to increase the facility amount up to $ 850 million . as of february 21 , 2020 , we had no amounts outstanding , and the available balance was $ 497.9 million , net of $ 2.1 million in outstanding letters of credit . at december 31 , 2019 , we have a $ 10 million unsecured short-term facility that we maintain for cash management purposes . the facility , which matures in march 2021 , provides for fixed interest rate loans at a 30 -day libor rate plus borrowing margin , facility fee and an unused facility fee of 125 , 10 , and 5 basis points , respectively . as of february 21 , 2020 , we had no amounts outstanding under this facility . during 2019 , the maximum balance and weighted average balance outstanding under both facilities combined were $ 5.0 million and $ .1 million , respectively , at a weighted average interest rate of 3.3 % . on july 1 , 2019 , we repaid a $ 50 million secured fixed-rate mortgage with a 7.0 % interest rate with cash from our disposition proceeds .


 Write a concise suspicious activity report of the following text delimited by triple backquotes. Return your response as a formal report which covers the key points highlighting the location,dates,entity names and account holder information in chronological order of the text.
     ```debt total debt outstanding was $ 1.7 billion at december 31 , 2019 and consisted of $ 17.4 million , which bears interest at variable rates , and $ 1.7 billion , which bears interest at fixed rates . additionally , of our total debt , $ 281.6 million was secured by operating centers while the remaining $ 1.5 billion was unsecured . at december 31 , 2019 , we have a $ 500 million unsecured revolving credit facility , which expires in march 2024 and provides borrowing rates that float at a margin over libor plus a facility fee . at december 31 , 2019 , the borrowing margin and facility fee , which are priced off a grid that is tied to our senior unsecured credit ratings , were 82.5 and 15 basis points , respectively . the facility also contains a competitive bid feature that allows us to request bids for up to $ 250 million . additionally , an accordion feature allows us to increase the facility amount up to $ 850 million . as of february 21 , 2020 , we had no amounts outstanding , and the available balance was $ 497.9 million , net of $ 2.1 million in outstanding letters of credit . at december 31 , 2019 , we have a $ 10 million unsecured short-term facility that we maintain for cash management purposes . the facility , which matures in march 2021 , provides for fixed interest rate loans at a 30 -day libor rate plus borrowing margin , facility fee and an unused facility fee of 125 , 10 , and 5 basis points , respectively . as of february 21 , 2020 , we had no amounts outstanding under this facility . during 2019 , the maximum balance and weighted average balance outstanding under both facilities combined were $ 5.0 million and $ .1 million , respectively , at a weighted average interest rate of 3.3 % . on july 1 , 2019 , we repaid a $ 50 million secured fixed-rate mortgage with a 7.0 % interest rate with cash from our disposition proceeds .
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 Suspicious Activity Report : we believe the pricing of assets that no longer meet our ownership criteria remains reasonably stable while the price of our common shares remains below our net asset value . given these conditions , we have been focused on dispositions of properties with risk factors that impact our willingness to own them going forward , and although we intend to continue with this strategy , our dispositions are expected to decrease to a normalized level in 2020. we intend to utilize the proceeds from dispositions to , among other things , fund acquisitions along with both new development and redevelopment projects . 25 as we discussed above , we continuously recycle non-core operating centers that no longer meet our ownership criteria and that will provide capital for growth opportunities . during 2019 , we disposed of real estate assets , which were owned by us either directly or through our interest in real estate joint ventures or partnerships , with our share of aggregate gross sales proceeds totaling $ 451.7 million . we have approximately $ 96 million of dispositions currently under contracts or letters of intent ; however , there are no assurances that these transactions will close at such prices or at all . for 2020 , we expect the volume of dispositions will significantly decrease from those in 2019 , and we anticipate that our normal disposition recycling program will range from $ 100 million to $ 150 million . we intend to continue to actively seek acquisition properties that meet our return hurdles and to actively evaluate other opportunities as they enter the market . due to the significant amount of capital available in the market , it has been difficult to participate at price points that meet our investment criteria . during 2019 , we acquired six centers and other property , of which five are grocery-anchored shopping centers and one is in a 51 % unconsolidated real estate joint venture , adding 828,000 square feet to the portfolio with our share of the aggregate gross purchase price totaling $ 246.4 million . for 2020 , we expect to complete acquisition investments in the range of $ 100 million to $ 150 million ; however , there are no assurances that this will actually occur . we intend to continue to focus on identifying new development projects as another source of growth , as well as continue to look for redevelopment opportunities . the opportunities for additional new development projects are limited at this time primarily due to a lack of demand for new retail space . during 2019 , we invested $ 150.4 million in two mixed-use new development projects that are partially or wholly owned and a 30-story , high-rise residential tower at our river oaks shopping center in houston , texas , and we invested $ 19.2 million in 11 redevelopment projects that were partially or wholly owned . during 2019 , we completed eight redevelopment projects , which added approximately 101,000 square feet to the portfolio with an incremental investment totaling $ 26.7 million . for 2020 , we expect to invest in new development and redevelopments in the range of $ 75 million to $ 125 million , but we can give no assurances that this will actually occur . we strive to maintain a strong , conservative capital structure which should provide ready access to a variety of attractive long and short-term capital sources . we carefully balance lower cost , short-term financing with long-term liabilities associated with acquired or developed long-term assets . we continue to look for transactions that will strengthen our consolidated balance sheet and further enhance our access to various sources of capital , while reducing our cost of capital . during 2019 , we repaid a $ 50 million secured fixed-rate mortgage with a 7 % interest rate . additionally , proceeds from our disposition program and cash generated from operations further strengthened our balance sheet in 2019. due to the variability in the capital markets , there can be no assurance that favorable pricing and accessibility will be available in the future . operational metrics in assessing the performance of our centers , management carefully monitors various operating metrics of the portfolio . as a result of our strong leasing activity and low tenant fallout , the operating metrics of our portfolio remained strong in 2019 as we focused on increasing rental rates and same property net operating income ( `` spnoi `` and see non-gaap financial measures for additional information ) . our portfolio delivered solid operating results with : occupancy of 95.2 % at december 31 , 2019 ; an increase of 3.3 % in spnoi that includes redevelopments for the twelve months ended december 31 , 2019 over the same period of 2018 ; and rental rate increases of 16.3 % for new leases and 10.2 % for renewals during the three months ended december 31 , 2019 . 26 below are performance metrics associated with our signed occupancy , spnoi growth and leasing activity on a pro rata basis : replace_table_token_8_th replace_table_token_9_th _ ( 1 ) see non-gaap financial measures for a definition of the measurement of spnoi and a reconciliation to net income attributable to common shareholders within this section of item 7. replace_table_token_10_th _ ( 1 ) average external lease commissions per square foot for the three and twelve months ended december 31 , 2019 were $ 6.82 and $ 5.91 , respectively . changing shopping habits , driven by rapid expansion of internet-driven procurement , led to increased financial problems for many retailers , which had a negative impact on the retail real estate sector . we continue to monitor the effects of these trends , including the impact of retail customer spending over the long-term . story_separator_special_tag amounts outstanding under the unsecured revolving credit facility are retired as needed with proceeds from the issuance of long-term debt , equity , cash generated from the disposition of properties and cash flow generated by our operating properties . as of december 31 , 2019 , we had available borrowing capacity of $ 497.9 million under our unsecured revolving credit facility , and our debt maturities for 2020 total $ 22.7 million . as of december 31 , 2019 , we had cash and cash equivalents available of $ 41.5 million . currently , we anticipate our disposition activities to continue , albeit at a lower rate than previous periods , and estimate between $ 100 million to $ 150 million in dispositions for 2020. we believe net proceeds from planned capital recycling , combined with our available capacity under the revolving credit and short-term borrowing facilities , will provide adequate liquidity to fund our capital needs , including acquisitions , redevelopment and new development activities and , if necessary , special dividends . in the event our capital recycling program does not progress as expected , we believe other debt and equity alternatives are available to us . although external market conditions are not within our control , we do not currently foresee any impediments to our entering the capital markets if needed . during 2019 , our share of aggregate gross sales proceeds from dispositions of centers owned by us , either directly or through our interest in real estate joint ventures or partnerships , totaled $ 451.7 million . operating cash flows from assets disposed are included in net cash from operating activities in our consolidated statements of cash flows , while proceeds from these disposals are included as investing activities . we have non-recourse debt secured by acquired or developed properties held in several of our real estate joint ventures and partnerships . at december 31 , 2019 , off-balance sheet mortgage debt for our unconsolidated real estate joint ventures and partnerships totaled $ 264.8 million , of which our pro rata ownership is $ 86.8 million . scheduled principal mortgage payments on this debt , excluding deferred debt costs and non-cash related items totaling $ ( .6 ) million , at 100 % are as follows ( in millions ) : replace_table_token_13_th 32 we generally have the right to sell or otherwise dispose of our assets except in certain cases where we are required to obtain our joint venture partners ' consent or a lender 's consent for assets held in special purpose entities . investing activities acquisitions during 2019 , we acquired six grocery-anchored shopping centers and other property , one of which is in a 51 % unconsolidated real estate joint venture , with our share of the aggregate gross purchase price totaling $ 246.4 million . dispositions during 2019 , we sold 15 centers and other property , including real estate assets owned through our interest in unconsolidated real estate joint ventures and partnerships . our share of aggregate gross sales proceeds from these transactions totaled $ 451.7 million and generated our share of the gains of approximately $ 190.8 million . new development/redevelopment at december 31 , 2019 , we had two mixed-use projects and a 30-story , high-rise residential tower at our river oaks shopping center under development with approximately .2 million of total square footage for retail and 962 residential units , that were partially or wholly owned . we have funded $ 368.4 million through december 31 , 2019 on these projects . upon completion , we expect our aggregate net investment in these multi-use projects to be $ 485.0 million . at december 31 , 2019 , we had 11 redevelopment projects in which we plan to invest approximately $ 74.2 million . upon completion , the average projected stabilized return on our incremental investment on these redevelopment projects is expected to be between 8.0 % and 12.0 % . during 2019 , we completed eight redevelopment projects , which added approximately 101,000 square feet to the portfolio with an incremental investment totaling $ 26.7 million . we typically finance our new development and redevelopment projects with proceeds from our unsecured revolving credit facility , as it is our general practice not to use third party construction financing . management monitors amounts outstanding under our unsecured revolving credit facility and periodically pays down such balances using cash generated from operations , from debt issuances , from common and preferred share issuances and from the disposition of properties . capital expenditures capital expenditures for additions to the existing portfolio , acquisitions , tenant improvements , new development , redevelopment and our share of investments in unconsolidated real estate joint ventures and partnerships are as follows ( in thousands ) : replace_table_token_14_th the increase in capital expenditures is attributable primarily to the acquisition of six centers and the net increased activity from our new development and redevelopment centers . for 2020 , we anticipate our acquisitions to total approximately $ 100 million to $ 150 million . our new development and redevelopment investment for 2020 is estimated to be approximately $ 75 million to $ 125 million . for 2020 , capital and tenant improvements is expected to be consistent with 2019 expenditures . no assurances can be provided that our planned activities will occur . further , we have entered into commitments aggregating $ 98.5 million comprised principally of construction contracts which are generally due in 12 to 36 months and anticipated to be funded under our unsecured revolving credit facility or through the use of excess cash . 33 capital expenditures for additions described above relate to cash flows from investing activities as follows ( in thousands ) : replace_table_token_15_th capitalized soft costs , including payroll and other general and administrative costs , interest , insurance and real estate taxes , totaled $ 22.9 million and $ 16.2 million for the year ended december 31 , 2019

