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reflecting our lower volume and lower average sales price leverage. As a result of our continued focus on balance sheet efficiency and reducing our capitalinvestment, we once again continued to migrate toward our goal of becoming land-light. As you think about Millrose from an investment standpoint.
We're also providing updates on our asset management activities, our recent dividend declarations, our expectations for dividends going forward, our recent investment activities and current investment pipeline, and several other noteworthy updates. After which, we'll be happy to take your questions. at the end of the second quarter.
And now looking at our capitalstructure, please refer to Slide 8. Our net leverage remained low relative to our peers at 3.6 The remaining portion of the investment, which relates to maintaining our existing revenues such as roof replacement, will be categorized as typical as recurring capex. Now moving to Slide 10.
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