Question-and-Answer Session
Operator
(Operator Instructions)
And our first question comes from Chris Pike from Merrill Lynch. Please go ahead with your question.
Chris Pike - Merrill Lynch
Good morning, everybody.
Phil Hawkins
Good morning, Chris.
Chris Pike - Merrill Lynch
I guess first question, obviously, with respect to the guidance, I guess if you strike in the point we're talking $0.18 a quarter, which is flat with respect to Q4, you walk through some underlying assumptions with respect to development, starts, contributions and the such. Can you talk about what do you think wholly owned acquisitions or co-investment acquisitions and perhaps disposition expectations are driving that $0.18 per quarter run rate?
Stuart Brown
Chris, yeah, this is a very good question, and I'll try to catch them. First of all, just in terms of overall acquisition and disposition, I mean, first of all on the co-investment side, I did mention we expect that to be $250 million to $300 million sort of total increase during the year in assets under management.
In terms of what's going to happen on balance sheet, overall, it's probably not going to be a big change in total investments in the real estate during the year. As Phil talked about, though, some of the assumptions are really changes in timing as well as we're not going to let acquisitions get ahead of dispositions.
Phil Hawkins
Yeah. Chris, this is Phil. Last quarter we did not disclose specific targets for either acquisitions or dispositions, but frankly the assumptions then was that they'd be roughly equal in terms of impact in FFO as well as timing and volume. Given that, I don't think anybody in this environment can comment anything until it happens. We're going to wait till dispositions happen before we think about deploying that capital.
So as a result, there will be a slight timing difference between the two. But I would say that has some modest impact on our own internal expectation. With respect to FFO it was roughly modest, but given financing cost. But anyway, who knows what we're going to do. We've got some internal plans what we'd like sell. We certainly are optimistic that even in this environment that that's doable. But again, it's hard for us to put a stake in the ground publicly with all of that.
The main point is we are going to patient. We're going to do the right thing for dispositions. And if it makes sense to sell, we will, if it doesn't, we won't. And we will not get a discretionary capital deployment out in front of that until we do have a better transparency on our dispositions.
- To read the full transcript on Seeking Alpha, click here »
