Steady Revenue Growth
The unfurnished suite portfolio revenue increased by 2.4% with an average monthly rent growth of 4.5%. Commercial revenue increased by 10.3% compared to Q3 of last year.
Increased Distributions
The Board of Trustees approved a 2.9% increase to the REIT's distributions, marking the seventh consecutive year of distribution increases.
Unit Buyback Program
Minto Apartment REIT purchased $3.6 million of units under its NCIB program at a weighted average price of $14.25 per unit, acquiring the maximum number of units allowable under the program.
Progress in Development Pipeline
Stabilization of 88 Beachwood in Ottawa is expected later in Q4 2025, and leasing at University Heights in Victoria has begun.