Northview Residential REIT Delivers Strong Q3 Results With Same Door NOI Growth Across All Regions and Leverage Reduction of 140 bps

Core Insights - Northview Residential REIT reported strong financial results for Q3 2025, driven by interest savings and solid same-door residential NOI growth across all regions [3][4][6] Financial Performance - Total revenue for Q3 2025 was $69.839 million, a slight increase from $69.059 million in Q3 2024 [5] - NOI for Q3 2025 reached $43.598 million, up from $42.192 million in the same period last year, resulting in an NOI margin of 62.4% compared to 61.1% in Q3 2024 [5][8] - FFO per basic unit increased by 8.3% to $0.52 from $0.48 year-over-year, with a year-to-date growth of 14.7% excluding insurance proceeds [6][8] Asset Management - Northview completed $164 million in non-core asset sales ahead of schedule, contributing to a leverage reduction of over 200 basis points and reducing floating rate exposure to 13.0% [4][14] - The commercial portfolio showed positive momentum with over 60,000 sq. ft. of signed leases, expecting occupancy to improve by nearly 500 basis points by mid-2026 [4] Operational Metrics - Same-door NOI in the multi-residential portfolio grew by 6.5% year-over-year, driven by a 4.3% increase in same-door revenue and an average monthly rent (AMR) increase of 4.8% [9] - Multi-residential occupancy was reported at 95.9%, slightly up from 95.8% in the previous year [5] Interest Expense and Debt Management - Interest expense decreased by $3.5 million due to significant reductions in credit facility interest expense, resulting in a weighted average credit facility interest rate of 5.80% [10] - Northview made net repayments of $18.9 million from mortgage refinancing and non-core asset sales, lowering the outstanding balance to $225.9 million [11]