Allied Properties Real Estate Investment Trust (AP.UN) Q2 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

goals and what we're focusing on for the remainder of the year. Dan will do the same from a financial perspective. JP will outline the positive leasing momentum by urban markets. We're then pleased to answer any 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 most recent quarterly report. We're focused on delivering long-term value. This includes driving leasing and operational results, development completion, and strengthening the balance sheet. The quarter-end results reflect the resilience of our operating platform, and we're also making progress in executing our long-term strategy of portfolio optimization. First, leasing and operational results. Our portfolio continues to demonstrate strength despite headwinds. JP and Nan will expand on the highlights, which include improved lease area, positive stay mass and NY, and the successful implementation of our rental residential platform. While lease deals continue to take longer to complete due to the availability of options and ongoing macroeconomic disruption, we continue to experience a shift towards improving fundamentals in urban centers. With space mandates from organizations across industry, including significant bank mandates in the Toronto market, we expect leasing momentum to accelerate over the next few quarters. Second, we made progress on our development and upg...