Gulf & Pacific Equities Corp. reports on First Quarter Results with Revenue of $1,132,621 And Refinancing of Mortgages

Financial Performance - Gulf & Pacific Equities Corp. reported a 4.1% increase in revenues to $1,132,621 for the quarter ended March 31, 2025, compared to $1,087,886 in the same period last year [1][3] - The company achieved a net income before fair value adjustment of $56,078, a significant improvement from a net loss of $46,490 in the previous year [3] - The net income and comprehensive income for the quarter was a loss of $314,792, compared to a loss of $32,418 in the same period last year, resulting in a loss per common share of $0.01 [3] Mortgage Refinancing - The company successfully refinanced all six mortgages due this year with new one-year fixed-rate mortgages [1] - The new mortgage rates are as follows: three mortgages maturing on April 1, 2026, at 5.17%, one on April 4, 2026, at 5.18%, one on April 28, 2026, at 5.16%, and the remaining mortgage maturing on May 4, 2026, at 5.13% [1][3] Company Overview - Gulf & Pacific Equities Corp. focuses on the acquisition, management, and development of anchored shopping centers in Western Canada, particularly in Alberta [6] - The company targets smaller, rapidly growing hub communities that are serviced with essential infrastructures such as hospitals and high schools [6] - Gulf & Pacific currently owns three retail assets located in Three Hills, St. Paul, and Cold Lake, Alberta [6]