We recently released our 2019 annual report that we prepared during the first quarter of 2020 prior to the COVID-19 pandemic.
Last night, we reported first quarter 2020 FFO of $0 56 per share and net income attributable to common stockholders of $0.20 per share for the first quarter.
At the time we withdrew our 2020 guidance, we believe that we are on track, approximately a $7.6 million reduction in our dividend distribution from Q1.
Office is 49% of our cash NOI, and we had collected approximately 90% of April billings.
Retail is 31% of our cash NOI, and we had collected 43% of our April billings.
Multifamily is 12% of our cash NOI.
And and we had collected 92% of our April billings.
We have won 369 room hotel in our portfolio, which has been the number one performing Embassy Suites hotel in the world since we opened the doors in December 2006.
The Embassy Suites Waikiki is 5% of our cash NOI, which is currently running on a skeleton crew with a minimal occupancy ranging from 5% to 15% based on Hawaii shelter in place order that has been issued through May 31.
When you add these percentages up, it is approximately 68% of cash NOI and applied to a $0.30 dividend, it supports a revised dividend of approximately $0.20 per share.
Such that we have now collected approximately 94% of office rents, 47% of retail rents, including the retail component of Waikiki Beach Walk and 94% of multifamily rents that were due in April 2020.
Other than our One Embassy Suites hotel that represents approximately 5% of our NOI, our retail sector, which represents approximately 31% of our NOI is obviously feeling the most impact with approximately 47% of April billings collected.
Approximately 24% of our retail tenants are considered to provide essential services and remain open during this period of time, and the balance of tenants are considered to provide nonessential services, which we are working with to create a positive outcome for both parties.
As we look at our balance sheet and liquidity at the end of the first quarter, we had approximately $402 million in liquidity comprised of $52 million of cash and cash equivalents and $350 million of availability on our line of credit, and only one of our properties is encumbered by our mortgage.
Our leverage, which we measure in terms of net debt-to-EBITDA was 5.6 times at the end of Q1.
Our focus is to maintain our net debt-to-EBITDA at 5.5 times or below.
Our interest coverage and fixed charge coverage ratio ended the quarter at 4.3 times.
Additionally, in early April, we drew down $100 million out of the $350 million revolving line of credit, under our line of credit for working capital and general corporate purposes and to ensure future liquidity given the COVID-19 pandemic.
And finally, with respect to the $250 million of unsecured debt maturities that come due in 2021, we have options to extend the $100 million term loan up to 3 times with each such extension for one year period, subject to certain conditions.
And the remaining $150 million unsecured Series A notes do not mature until October 31, 2021.
We ended the quarter at over 94% leased with only 9% of the office portfolio expiring through the end of 2021.
City Center Bellevue remains 99% leased, but we continue to expand and extend our existing customers at much higher rates.
We completed a full floor renewal with a major financial firm at a starting rate that is approximately 66% above the ending rate.
Our Lloyd District office buildings remain 100% leased.
We recently completed a full floor lease with an energy-related company with a start rate approximately 28% above the ending rate of the prior customer.
Similar to the 830 building at Oregon Square, we are currently redeveloping the 710 building, a 33,276 square-foot building that we hope to deliver in early 2021.
The fully renovated approximately 102,000 square-foot building will provide an 85,000 square foot contiguous opportunity to hopefully be delivered in mid-2021.
Finally, our San Diego portfolio stands at approximately 92% leased versus the overall Class A market at 89% leased.
two of the 14 buildings at Torrey reserve represents 65% of our San Diego vacancy.
Solana crossing now stands at over 95% leased.
And Torrey point is on track to be 97% leased with a recent expansion of one customer, a pending expansion of another and AAT's move later this year.
The two existing towers of La Jolla Commons stay 99% leased.
Direct vacancy in Class A buildings in UTC is just 3.3%, with only 0.5% of sublease space vacant, and we expect continued significant new demand driven by both life science and technology users.

Summary:
We recently released our 2019 annual report that we prepared during the first quarter of 2020 prior to the COVID-19 pandemic.