Strong Financial Growth
Total adjusted revenues increased by 12.1% year-over-year to $241.8 million, and total adjusted same-property NOI increased by 8.5% to $42.5 million in Q1 2025.
Retirement Segment Performance
Adjusted same-property NOI increased by 16.7% in the retirement segment, driven by increasing occupancy and rental rate growth. Average same-property occupancy reached 92.5% in Q1 with a target of 95% by Q1 2026.
Acquisition and Development Success
Closed $250 million of acquisitions and announced an $85 million acquisition of a Class A retirement residence in Ottawa. Platform expected to exceed 100 properties by Q3 2025.
Team Member Investment
Reduced turnover by about 30%, leading to a 70% reduction in the use of agency staff, thanks to the shared ownership program expansion.
Strong Liquidity and Financial Position
Ended the quarter with $445 million in liquidity and $1.1 billion of unencumbered assets, with no major debt maturities until Q1 2026.