Dream Industrial Real Estate Investment Trust (DIR.UN) Q1 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

Please be advised that all participants are currently in listen-only mode and the conference is being recorded. After the presentation, there will be an opportunity to ask questions. To join the question queue, you may press star then 1 on your telephone keypad. Should you need assistance during the conference call, you may signal an operator by pressing star then 0. During this call, management of DREAM Industrial REIT may make statements containing forward-looking information within the meaning of applicable securities legislation. Forward-looking information is based on a number of assumptions and is subject to a number of risks and uncertainties, many of which are beyond Dream Industrial REITs control that could cause actual results to differ materially from those that are disclosed in or implied by such forward-looking information. Additional information about these assumptions and risks and uncertainties is contained in Dream Industrial REITs filings with securities regulators. including its latest annual information form and MD&A. These filings are also available on Dream Industrial REIT's website at www.dreamindustrialreit.ca. Your host for today will be Mr. Alexander Sanikov, CEO of Dream Industrial REIT. Mr. Sanikov, please proceed. Thank you. Good morning, everyone. Thank you for joining us today for Dream Industrial REIT's first quarter 2025 conference call. Here with me today is Lennis Kwon, our Chief Financial Officer. We started off 2025 with healthy operating and financial results. For the quarter, we delivered 5.8% year-over-year FFO per unit growth, driven by comparable properties NOI growth of 3.1%. We continue to observe stable activity in the leasing market. So far in 2025, we have signed 1.5 million square feet of leases. Rental spreads were hea...