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First Quarter 2025 Results Compared to First Quarter 2024 Results
Rental revenue and related income was $24.8 million, an increase of 24.4% compared to $19.9 million.
Same Community Revenue1 was $22.5 million, up 12.9% compared to $19.9 million.
Net income and comprehensive income was $10.5 million compared to $11.1 million, a decrease of 6.0%.
Net Operating Income (“NOI”) was $16.4 million, up 23.0% compared to $13.3 million.
Same Community NOI1 was $15.1 million, an increase of 12.9% compared to $13.3 million.
NOI Margin1 was 66.2% compared to 67.0%.
Same Community NOI Margin1 was 67.0%, unchanged from the prior period.
FFO adjusted per unit (diluted)2 was $0.342 compared to $0.325, an increase of $0.017 per unit, or 5.2%.
Adjusted funds from operations (“AFFO”) adjusted per unit (diluted)2 was $0.310 compared to $0.285 which was an increase of $0.025 per unit, or 8.8%.
Rent Collections1 were 99.7%, the same as in the prior period.
As at March 31, 2025
NAV1 and NAV per Unit1 were $689.5 million and $27.44, respectively, compared to $670.8 million and $26.71 as at December 31, 2024, respectively.
Debt to Gross Book Value1 was 37.5% compared to 38.1% as at December 31, 2024.
Total portfolio Occupancy was 84.4%, up from 83.5% as at December 31, 2024.
Same Community1 Occupancy was 84.9%, a 1.0% increase from 83.9% as at December 31, 2024.
