Allied Properties Real Estate Investment Trust (AP.UN) Q1 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

Hello, and thank you for standing by. My name is Bella, and I will be your conference operator today. At this time, I would like to welcome everyone to Allied Properties' fourth quarter 2024 earnings conference call. All lines have been placed on mute to prevent any background noise. After the speaker's remarks, there will be a question and answer session. If you would like to ask a question during this time, simply press star, then the number one on your telephone keypad. To withdraw your question, press star 1 again. I would now like to turn the conference over to Cecilia. Please go ahead. Thanks, Bella. Good morning and welcome to our conference call. I'll summarize what we achieved in 2024 and what we're focused on in 2025. NAN will do the same from a financial perspective. JP will outline the leasing momentum by urban market and strong results from our third-party user engagement survey. then we're pleased to answer questions. We may, in the course of this conference call, make forward-looking statements about future events or future performance. By their nature, these statements are subject to risks and uncertainties that may cause actual events or results to differ materially, including those described under the heading Risks and Uncertainties in our 2024 Annual Report. Material assumptions underpinning any forward-looking statements we make include those described under forward-looking statements in our 2024 annual report. First, leasing. We outperformed the urban centers in which we operate, where our occupied area was higher than each of the markets. The only exception was Vancouver, where we acquired vacancy that we'll address by year end. Our national portfolio's leased area remained steady over the year, and with challenges starting to ease, we're focuse...