M
arket Pulse: Marwest Apartment REIT Posts Strong 2024 Results

    Marwest Apartment Real Estate Investment Trust (MAR.UN) has released its financial results for the year ended December 31, 2024. Key highlights include:

    * A Same Property NOI increase of 8.11% compared to 2023

    * Net Asset Value per Unit (NAV) rising to $2.37 at year-end 2024 from $1.90 in 2023

    * Average Occupancy rate reaching 99.29% for the year ended December 31, 2024

    CEO William Martens attributes the strong performance to continued growth in rental rates and a favorable market environment in Winnipeg.

    Financial metrics:

    * Funds From Operations (FFO) per Unit: $0.1224

    * Adjusted Funds From Operations (AFFO) per Unit: $0.1022

    * Debt-to-Gross Book Value ratio: 67.74%

    * Weighted average term to maturity on fixed rate debt: 63.56 months

    These results demonstrate the REIT's ability to deliver positive financial outcomes for its Unitholders, positioning it well for future growth and success.