Decline In Funds From Operations Per UnitFunds from operations per unit declined due to dilution from the partial asset sale combined with elevated interest costs, weakening distributable cash available to unitholders.
Higher Interest ExpenseRefinancing at higher interest rates increased interest expense, which pressured cash flow and distributable earnings.
Tenant Concentration And Vacancy RiskDeparture of a sole tenant at a key US property led to the asset's sale and reduced rental income from that location, underscoring tenant concentration risk.