Allied Properties Real Estate Investment Trust (TSE:AP.UN) has released an update.
Allied Properties Real Estate Investment Trust reported a modest rise in operating income to $78 million for the first quarter of 2024, despite a net loss of $19 million due to decreased property valuations in major Canadian cities. Funds from operations remained stable at $81 million, while adjusted funds from operations saw a slight increase to $75 million. The company continues to see strong demand for its distinctive urban workspaces, maintaining high occupation and leasing rates across its portfolio.
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