Strong Portfolio Performance
Maintained portfolio occupancy at 98.7%, collected 100% of cash-based rents, and increased the weighted average remaining lease term to 7.1 years.
Industrial Sector Growth
Acquired two industrial facilities for $78.95 million, increasing industrial concentration to 67% of annualized straight-line rents.
Positive Financial Metrics
Operating revenues increased to $39.5 million from $37.1 million in the same period in 2024, with lower operating expenses at $25.1 million compared to $26.0 million in 2024.
Increase in Net Assets
Net assets increased from $1.16 billion to $1.2 billion, primarily due to acquisitions.
Successful Capital Raising
Raised net proceeds of $38.1 million through the ATM program and $357,000 from the Series F preferred stock sales.