PRO Real Estate Investment (TSE:PRV.UN) has released an update.
PRO Real Estate Investment Trust (PROREIT) reported an encouraging first-quarter performance for fiscal 2024, with a 7.8% year-over-year increase in Same Property Net Operating Income and robust growth in their industrial sector. The company also strategically sold three non-core properties, amassing $26.1 million, and is set to sell two more in Q2, which will increase their industrial portfolio. Additionally, PROREIT has effectively lowered its total debt by $25.1 million and maintained a high occupancy rate of 97.7%.
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