Financial PerformanceRecurring FFO per unit drops 10.5%, which aligns with expectations but indicates a challenging financial performance.
Occupancy And RetentionRetention rates are yet to improve and were 60.4% in the quarter, below the long-term average of 70-75%.
Office Space DemandOffice construction activity expected to drop sharply due to soft demand and elevated financing costs, leading to no new construction starts.