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Northwest Healthcare Properties Real Estate Investment Trust Reports First Quarter 2025 Results
Toronto, Ontario--(Newsfile Corp. - May 14, 2025) - Northwest Healthcare Properties Real Estate I...
About this update from Vital Infrastructure Property Trust
[{"type":"text","content":"Northwest Healthcare Properties Real Estate Investment Trust Reports First Quarter 2025 ResultsToronto, Ontario--(Newsfile Corp. - May 14, 2025) - Northwest Healthcare Properties Real Estate Investment Trust (TSX: NWH.UN) (the \"REIT\" or \"Northwest\"), a leading owner and operator of healthcare real estate infrastructure in North America, Brazil, Europe, and Australasia, announces results for the three months ended March 31, 2025.\"We entered 2025 with a clear plan – and our first quarter results reflect meaningful execution across all fronts,\" said Craig Mitchell, CEO of Northwest. \"We improved key financial and operating metrics, including AFFO per unit, reduced our payout ratio, and materially advanced our capital recycling strategy with over $260 million in non-core asset sales completed year to date. At the same time, we strengthened our balance sheet through proactive debt repayment and refinancing initiatives, lowering our leverage and extending our debt maturity profile. With enhanced liquidity and greater financial flexibility, we remain well-positioned to deliver on our objectives and create long term value for our unitholders.\"Q1 2025 HighlightsHighlights for Q1 2025 and events subsequent to the quarter are set out below:Revenue from investment properties was $111.6 million for Q1 2025, a decrease of 16.4% from Q1 2024 driven by the disposition of non-core assets during 2024 and 2025 to date, partially offset by strong same property revenue growth; Same Property Net Operating Income (\"SPNOI\") increased by 4.5% to $73.8 million for Q1 2025, over Q1 2024, reflecting steady growth across all regions (see Exhibit 1);General and administrative expenses, excluding unit-based compensation and employee termination benefits and associated costs, were $11.9 million for Q1 2025, a decrease of $1.1 million from Q1 2024, primarily due to headcount reduction and simplification of the REIT's business; Net loss for Q1 2025 was $15.5 million compared to net loss of $38.6 million in Q1 2024, primarily due to a decrease in mortgage and loan interest expense, lower fair value losses on investment properties, and higher fair value gains on revaluation of financial instruments, partially offset by lower net operating income as a result of disposition activity;Adjusted funds from operations (\"AFFO\") was $0.10 per u...