Canadian Apartment Properties Real Estate Investment Trust (CAR.UN) Q4 2025 Earnings Call

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WEBVTT 00:00:00.031 -- 00:00:03.996 Hello, everyone, and thank you for joining the Canadian Apartment Property REIT's fourth 00:00:03.996 -- 00:00:08.943 quarter 2025 results conference call. My name is Claire, and I will be coordinating your 00:00:08.943 -- 00:00:13.930 call today. During the presentation, you can register a question by pressing star followed 00:00:13.930 -- 00:00:18.756 by 1 on your telephone keypad. If you change your mind, please press star followed by 00:00:18.756 -- 00:00:23.342 2 on your telephone keypad. I will now hand over to your host, Nicole Dolan, Investor 00:00:23.342 -- 00:00:27.007 Relations, to begin. Please go ahead. 00:00:27.007 -- 00:00:29.512 Thank you, operator, and good morning, everyone. 00:00:29.512 -- 00:00:33.217 Before we begin, let me remind everyone that during our conference call this morning, 00:00:33.217 -- 00:00:37.202 we may include forward-looking statements about expected future events and the financial 00:00:37.202 -- 00:00:41.627 and operating results of CAPRI, which are subject to certain risks and uncertainties. 00:00:41.627 -- 00:00:45.452 We direct your attention to slide two and our other regulatory filings for important 00:00:45.452 -- 00:00:49.678 information about these statements. I will now turn the call over to Mark Kenney, President 00:00:49.678 -- 00:00:51.200 and CEO. 00:00:51.200 -- 00:00:53.763 Thanks, Nicole, and good morning, everyone. 00:00:53.763 -- 00:00:58.013 Joining me this morning is Stephen Koh, our Chief Financial Officer. 00:00:58.013 -- 00:01:02.696 Let's start in slide four with some key highlights from 2025. 00:01:02.758 -- 00:01:08.023 This past year, we continued to actively reposition our portfolio, and we met 00:01:08.023 -- 00:01:13.829 our disposition target by selling more t...