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Melcor REIT(MR-UN-T)

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Melcor REIT announces first quarter 2022 results

Globe Newswire - Thu May 5, 2022

EDMONTON, Alberta, May 05, 2022 (GLOBE NEWSWIRE) --

Melcor REIT (TSX: MR.UN) today announced results for the first quarter ended March 31, 2022. Rental revenue was down 3% at $18.97 million and NOI was down 6% to $11.86 million, primarily due to the Early Termination event contributing $1.00 million in other revenue in Q1-2021. Excluding this event, revenue was up 3% and NOI was up 2%. ACFO was stable at $5.77 million or $0.20 per unit. Occupancy was up slightly over year-end and we retained 86.1% of expiring leases year-to-date. Leasing activity has been positive with 179,269 sf of new and renewed leasing (including holdovers) signed in the quarter.


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