M
arwest Apartment Real Estate Investment Trust (the "REIT") (TSXV: MAR.UN) reported financial results for the three months ended March 31, 2025. The press release should be read in conjunction with the REIT's Unaudited Condensed Consolidated Interim Financial Statements and Management's Discussion and Analysis ("Q1 2025 MD&A") available on the REIT's website at www.marwestreit.com and at www.sedarplus.ca.
"We are pleased with our ongoing positive operating results," said Mr. William Martens, Chief Executive Officer of the REIT. "Same Property Revenue from Investment Properties increased by 3.73% and average rental rates per suite rose by 4.79%, both over Q1 2024."
Key highlights for Q1 2025 include:
* Same Property Revenue from Investment Properties increased by 3.73%
* Average occupancy rate of 98.14%
* Weighted average mortgage term to maturity of over 5 years
The REIT's portfolio consists of four multi-residential properties, with a total of 516 suites. The same property NOI (Net Operating Income) for Q1 2025 was $1,623,418, compared to $1,656,566 in the same period last year.
This press release should be read in conjunction with the REIT's Unaudited Condensed Consolidated Interim Financial Statements and Management's Discussion and Analysis (\"Q1 2025 MD&A\") for the three months ended March 31, 2025.
