Financial Performance And DebtThe REIT continues to face a difficult operating environment and has a significant amount of debt maturing at rates lower than the cost of financing.
Occupancy And Retention RatesRetention rates are yet to improve and were 60.4% in the quarter, below the long-term average of 70-75%.
Office Construction And DemandOffice construction activity expected to drop sharply due to soft demand and elevated financing costs, leading to no new construction starts.