and earnings guidance. This quarter, we further enhanced our already strong balance sheet. We achieved very attractive pricing on our $300 million unsecured bond offering and also completed a credit facility recap with an upsize to $1.25 billion. This further expands our financial flexibility. It is this ongoing fortification that has and continues to position Regency to weather future challenges and profit from future investment opportunities.
In regard to these future investment opportunities, our development pipeline remains solid. However, we did revise development starts guidance to reflect the push in timing of two projects that we now expect to start in 2019. Our updated acquisitions guidance reflects the four premier acquisitions closed year-to-date with the actual cap rates on those closed transactions. Disposition guidance was increased as a result of our $125 million share repurchase activity. As we mentioned on our previous call, repurchases are a component of our funding strategy and any repurchases will be leverage-neutral. As a reminder, that strategy is to sell 1% to 2% of low growth assets annually then together with free cash flow, which approximates $150 million this year, investing that capital in outstanding value-add developments and redevelopments, high-growth acquisitions or our own stock at compelling pricing.
Turning to same property NOI. I'm extremely gratified by another strong quarter of same property NOI growth of 4%, driven primarily by base rent growth. Performance in the first quarter was slightly better than expected, and we have therefore revised our same property NOI guidance range to 2.4% to 3.25%.
Consistent with what we previously communicated, we feel it is prudent to maintain a conservative approach for potential additional retailer fallout. Therefore, as a result, we are maintaining our projection for higher moveout levels than experienced last year. In addition, a deceleration in the positive impact coming from redevelopments in the second half is contributing to a moderation in same property NOI growth throughout the rest of the year.
And now, turning to earnings guidance. Operating FFO guidance was increased to recognize the slightly better performance in the quarter, and NAREIT FFO guidance was revised to reflect some non-comparable items that will occur in the second quarter. These include the onetime payment for the early debt redemption associated with our bond offering and the $1.7 million termination expense to recapture the Toys "R" Us lease at auction. These charges will be offset by more favorable interest rates on the new bond offering and the requirement to recognize income from the non-cash below-market rents associated with the Toys "R" Us leases that were terminated.
That concludes our prepared remarks, and we now welcome your questions.