The following is a summary of the Slate Office REIT (SLTTF) Q1 2024 Earnings Call Transcript:
Financial Performance:
Slate Office REIT completed over $40 million in dispositions through strategic asset sales in Canada and Ireland, with an additional $109 million of assets under contract or in letter of intent.
They also executed over 270,000 sq ft of total leasing, representing an increase of 120% from Q1 2023, with a pipeline of more than 350,000 sq ft of potential new lease deals.
Business Progress:
The REIT prioritized long-term growth and stability by preserving value with hands-on asset management and flexibility in financial leverage.Hands-on asset management normalized relations with high-quality credit tenants in the Greater Toronto area, Atlantic Canada, and Ireland leading to extensions and renewals.
Slate's portfolio realignment plan, including asset disposals to repay debt, is currently in progress.
More details: SLATE OFFICE REIT IR
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