PRO REIT says H1 2026 NOI rises 7.3% on higher industrial rents, lease renewals
Reuters2026/08/12 21:28- For the quarter and six months ended June 30, 2026, net operating income rose 6.5% to CAD 16.45 million, up 7.3% to CAD 32.53 million.
- Management tied NOI growth to higher contractual rents, stronger renewal and new-lease pricing, and portfolio expansion to 122 properties.
- Same-property NOI increased 3.3% for the quarter, despite vacancies in Saint-Hyacinthe, Quebec, and Woodstock, Ontario; portfolio occupancy was 95%.
- The trust closed CAD 149.1 million of industrial acquisitions during the quarter, funded by CAD 107.3 million of equity and new secured borrowings.
- Leverage stood at 47.4% of total assets, down from 50.6% a year earlier; weighted-average mortgage interest rate was 4.1%.
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