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Parkit Enterprise Reports Fiscal 2025 Annual Results with 29% FFO Growth
Parkit's Annual results had a $25 Million Gain on Asset Sales, Strategic Investment in PROREIT an...
About this update from Parkit Enterprise Inc.
[{"type":"text","content":"Parkit Enterprise Reports Fiscal 2025 Annual Results with 29% FFO GrowthParkit's Annual results had a $25 Million Gain on Asset Sales, Strategic Investment in PROREIT and Launched construction on Two 15-Storey Purpose Built Rental DevelopmentsToronto, Ontario--(Newsfile Corp. - March 5, 2026) - Parkit Enterprise Inc. (TSXV: PKT) (\"Parkit\" or the \"Company\"), today reported the Company's full year 2025 audited results. Steven Scott, Chair of Parkit, commented:\"Parkit achieved 8% same property NOI growth and 29% FFO growth while executing on a disciplined capital allocation strategy. The sale of seven Winnipeg assets generated a $25 million gain and allowed us to strengthen our balance sheet, reduce debt, and establish a meaningful 10% ownership position in PROREIT, generating an attractive yield. The sale of 568 Second Street resulted in a gain and a partnership to build two 15-story purpose-built rental buildings containing 543 units. Operationally, we signed nearly 90,600 square feet of new leases and renewed over 172,200 square feet at market rents, demonstrating continued demand for our industrial portfolio. With 92% of our debt fixed and strong liquidity, we are well positioned to pursue disciplined acquisitions and further grow revenue, NRI and FFO in 2026.\"2025 Q4 Results and Full Year Results and Recent Business HighlightsAcquisitions and asset sales. In 2025, the Company acquired 2 industrial properties for $21 million consisting of approximately 162,370 square feet on 7.7 acres.The Company sold 7 assets in Winnipeg, Manitoba for $101.9 million resulting in a $25.2 million gain. The Company used the proceeds to pay down debt and invest in units of PRO Real Estate Investment Trust (\"PROREIT\"). As at December 31, 2025, Parkit owns 6,980,674 units of PROREIT, representing approximately 10% of the trust with the investment yielding approximately 6.9%.The Company contributed the lands at 568 Second Street into a three party joint venture called 760 Second Street Partnership for total contribution of $12,900,000. The joint venture is comprised of Parkit for a 50% share, Decade Capital for a 25% share, and Southside Group for a 25% share. The joint venture has commenced construction on the first of two 15-story purpose-built rental buildings.Revenue, net rental income and investment income. Investment propertie...