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As demonstrated over the past 90 days, having ample liquidity and access to multiple sources of capital throughout the cycle is an important differentiator for us. We further strengthened our balance sheet by raising nearly 600 million of debtcapital during 2023. Brendan Maiorana -- Chief Financial Officer Thanks, Brian.
Importantly, because we are no longer capitalizing any costs on these projects, all NOI growth will drop to bottom-line FFO and cash flow. We expect to deploy this capital during the year by acquiring high-quality assets with strong cash flows and meaningful long-term upside. on projected 2025 NOI.
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