InterRent REIT Reports Fourth Quarter and Full Year 2025 Results

InterRent Real Estate Investment Trust (TSX:IIP) (“InterRent” or the “REIT”) today reported financial results for the fourth quarter and full year 2025 ended December 31, 2025.

Q4 2025 Highlights

Achieved 2.8% year-over-year (“YoY”) growth in average monthly rent (“AMR”) to $1,749 for the total portfolio, and 2.2% to $1,752 for the same-property portfolio for December 2025.

December same-property and total portfolio occupancy rate increased by 10 basis points quarter over quarter (“QoQ”) to 96.9% and was 10 basis points lower YoY.

Executed 698 new leases during Q4, an increase of 9.9% in leasing volume compared to the same period last year.

2025 Fiscal Year Highlights

On May 27, 2025, entered into an arrangement agreement to be acquired by Carriage Hill Properties Acquisition Corp., an entity owned by CLV Group and GIC, in an all-cash transaction valued at approximately $4.0 billion including net debt.

Same-property proportionate Net Operating Income (“NOI”) reached $158.1 million for the 12 months ended December 31, 2025, an increase of 2.1% from 2024.

Operational Performance

As of December 31, 2025, InterRent had proportionate ownership of 11,673 suites, a decrease of 4.0% from December 31, 2024, reflecting the impact of recent dispositions.

The REIT estimates the average market rental gap for the total portfolio decreased to approximately 18% as of December 31, 2025, compared to 26% at December 31, 2024.

Revenue and Net Operating Income

NFFO Performance and NAFFO were also affected by higher maintenance capital expenditures related to the two previously disclosed large life-cycle projects executed during the year.

For more information on Real Estate Investment Trust and its benefits, visit our website.

Update to the Arrangement Agreement to Acquire the REIT

The Transaction has received Investment Canada Act approval and clearance under the Competition Act (Canada), and the parties have received a final order from the Ontario Superior Court of Justice (Commercial List) approving the Transaction.

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ABOUT INTERRENT

InterRent REIT is a growth-oriented real estate investment trust engaged in increasing unitholder value and creating a growing and sustainable distribution through the acquisition and ownership of multi-residential properties.

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