H
&R Real Estate Investment Trust (the "REIT") (TSX: HR.UN) is pleased to announce its financial results for the three months ended March 31, 2025. Tom Hofstedter, Executive Chair and Chief Executive Officer, stated that while transaction volume was lower than desired, the REIT's first quarter operating results were strong.

    Key highlights include:

    * Overall occupancy of 95.6%

    * Total Same-Property net operating income (cash basis) grew by 4.4%

    * Funds from Operations (FFO) was $0.30 per unit

    Financial Highlights

    * Total assets: $10,460,327

    * Debt to total assets: 33.8%

    * Unitholders' equity: $5,192,448

    * Units outstanding: 262,566

    * Net Asset Value (NAV) per Unit: $20.62

    Net Operating Income Highlights

    * Same-Property net operating income (cash basis) - Residential: $44,483 (up 5.1% from Q1 2024)

    * Same-Property net operating income (cash basis) - Industrial: $17,181 (up 4.5% from Q1 2024)

    * Same-Property net operating income (cash basis) - Office: $39,358 (up 1.2% from Q1 2024)

    * Same-Property net operating income (cash basis) - Retail: $25,447 (up 8.2% from Q1 2024)

    Transaction Highlights

    * Property dispositions: $59.9 million in the first quarter of 2025

    * Net operating income from equity accounted investments: ($26,844)