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orthwest Healthcare Properties Real Estate Investment Trust (TSX: NWH.UN) reports its results for the three months ended March 31, 2025. According to CEO Craig Mitchell, "We've made significant progress across all fronts in our first quarter." The REIT improved key financial and operating metrics, including AFFO per unit, reduced its payout ratio, and advanced its capital recycling strategy with over $260 million in non-core asset sales completed year-to-date.

    Key highlights for Q1 2025 include:

    Revenue from investment properties decreased by 16.4% to $111.6 million due to the disposition of non-core assets, partially offset by strong same property revenue growth; Same Property Net Operating Income (SPNOI) increased by 4.5% to $73.8 million, reflecting steady growth across all regions; General and administrative expenses decreased by $1.1 million primarily due to headcount reduction and business simplification; Net loss was $15.5 million compared to a net loss of $38.6 million in Q1 2024, mainly due to lower mortgage and loan interest expense, fair value losses on investment properties, and higher fair value gains on revaluation of financial instruments.

    Adjusted funds from operations (AFFO) was $0.10 per unit, resulting in an AFFO payout ratio of 92%. The REIT's leverage decreased to 48.6% post-quarter end, including the sale of its interest in Assura PLC. Strong operating performance was supported by a stable lease maturity profile with a weighted-average lease expiry (WALE) of 13.6 years and a global portfolio occupancy rate of 96.5%.