Stable Leasing Activity
Total leasing activity, including new leases and renewals, totaled approximately 173,000 square feet with a 4.7% average rent renewal rate.
Positive Cash NOI Growth
Cash NOI increased by 0.5% compared to the same quarter last year, driven by operating improvements and higher rent renewal rates.
Improved Liquidity Position
Total liquidity improved to $34.2 million, an increase of $16.5 million compared to the end of 2024.
Successful Property Dispositions
Disposed a property in Saskatoon for $6.1 million and another in Quebec City for $10.5 million, achieving a gain of 13% versus book value.
Strong AFFO Payout Ratio
AFFO payout ratio improved to 79.2% for the quarter from 80.2% the previous year.