Increased Occupancy Rates
Occupancy rates rose to 87.8% as of June 30 from 87.1% at March 31, driven by a new 80,600 square foot lease in the U.S. industrial portfolio.
Successful Lease Renewals
210,643 square feet of renewals commenced during the quarter with rental rates increasing by 3.6%, indicating strong tenant relationships and asset strength.
Deleveraging Initiatives
Closed on the sale of a Canadian retail property for $4.8 million and went unconditional on the sale of a 90% interest in U.S. development land for USD 11.3 million, contributing to deleveraging efforts.
Repurchase of Common Units
Repurchased 1.77 million common units at an average price of $7.28, along with 25,700 Series E and 33,200 Series I preferred units, totaling 3.8 million common units repurchased at an average price of $7.42.