Core Insights - Firm Capital Property Trust ("FCPT") reported financial results for the three and twelve months ended December 31, 2025, highlighting a diversified property portfolio and stable income generation [2][9]. Property Portfolio Highlights - The portfolio includes 62 commercial properties with a total gross leasable area (GLA) of 2,433,940 square feet, five multi-residential complexes with 599 units, and four manufactured home communities with 537 units [3]. - 49% of net operating income (NOI) is derived from grocery-anchored retail, followed by industrial properties at 28% [3]. - Geographically, 37% of NOI comes from Ontario, and another 37% from Quebec [3]. Tenant Diversification - The tenant profile is well diversified, with no single tenant accounting for more than 12.9% of total net rent, and the top 10 tenants representing 31.8% of total net rent [4]. Q4/2025 Financial Highlights - Rental revenue for Q4/2025 was $15.7 million, a slight increase from $15.6 million in Q4/2024 [5]. - Net income for Q4/2025 was $12.5 million, up 118% from $5.8 million in Q4/2024 [6]. - Adjusted Funds From Operations (AFFO) was approximately $4.9 million, a 2% increase over Q4/2024, with AFFO per unit at $0.133 [6][7]. Debt and Financing - The Trust refinanced a first mortgage for $18.4 million at a fixed rate of 4.15% with a 30-year amortization [6]. - The revolving operating facility was increased from $19 million to $35 million, with an extension to October 31, 2027 [6]. Distribution Information - Monthly distributions of $0.0433 per Trust Unit were declared for Unitholders of record on April 30, May 29, and June 30, 2026 [6]. Additional Information - The Trust has a Distribution Reinvestment Plan (DRIP) and a Unit Purchase Plan (UPP) for Unitholders, allowing for reinvestment of distributions and unit purchases at a discount [8].