Taking out the unusuals, FFO is up, NOI is up. Mgmt confirms fixed rate debt minimizes interest rate exposure. Sounds good to me.
FREDERICTON, NB, Aug. 3, 2022 /CNW/ - Plaza Retail REIT (TSX: PLZ.UN) ("Plaza" or the "REIT") today announced its financial results for the three and six months ended June 30, 2022.
"We continue to realize positive results and growth from our portfolio of open-air centres, dominated by national tenants in the essential needs, value and convenience categories," said Michael Zakuta, President and CEO. "In the current environment of rising interest rates, we will benefit from our conservative approach to debt financing, supported by our very resilient tenant base. With a balanced debt maturity ladder that consists of mostly fixed-rate debt and nominal floating rate exposure, we are well-positioned."