Strong Profitability & MarginsSustained high gross and net margins in 2024–2025 indicate the company earns durable economic returns on its properties and projects. Strong margins support long-term cash generation, reinvestment capacity and resilience to cyclical rental pressure across office, retail and industrial segments.
High Free Cash Flow ConversionNearly one-to-one conversion of net income to free cash flow shows earnings are high quality and largely collectible. Reliable FCF supports dividends, debt service and development funding, improving the firm's ability to execute multi-year development and rental strategies.
Diversified Commercial Portfolio & Revenue StreamsA mix of long-term leases, development projects and strategic partnerships spreads revenue risk across tenant types and project cycles. This diversification supports steadier cash flows, provides multiple growth levers and reduces single-segment dependence over a 2–6 month horizon and beyond.