Asset Sales ImpactThe negative impact of asset sales and higher interest expense offset strong operating performance from growing NOI in its industrial portfolio.
Discount To NAVPRO currently trades at an implied cap rate of 8.1%, or a 33.6% discount to our NAV estimate, compared to the weighted-average discount of 24.6% for its Canadian industrial REIT peers.
Organic GrowthFFO per unit down 10% in Q4/24, with the pace of organic growth having slowed, and results slightly below expectations.