Revenue Growth
Total income for the third quarter reached $72.4 million, a 13.7% year-over-year increase. Total income, excluding energy, reached $69.9 million, a 14.5% increase.
Leasing Activity
Total leasing activity for third quarter 2025 reached 1.7 million square feet. New leases accounted for 597,000 square feet, and renewals represented 1.1 million square feet with a trailing last 12 months weighted average spread of 12.4%.
High Occupancy Rates
Third quarter 2025 total portfolio occupancy reached 89.7%, with stabilized and same-store occupancy at 94.3% and 94.8%, respectively.
Strategic Land Acquisition
Vesta acquired 330 acres of land in Monterrey's high-demand Monterrey-Apodaca Airport Highway corridor, benefiting from a strategic location next to the Monterrey International Airport.
Financial Performance
Adjusted NOI margin and adjusted EBITDA margin were 94.4% and 85.3%, respectively. EBITDA margin is expected to reach 84.5% by year's end, up from prior guidance of 83.5%.
Debt Management
Successfully completed a $500 million senior unsecured notes offering at a 5.5% interest rate due in 2033, enhancing liquidity and financial flexibility.