Core Viewpoint - AIP Realty Trust reported its financial results for the three and six months ended June 30, 2025, showing a decline in investment property revenue but an increase in net rental income, alongside significant expenses related to trust operations and financing activities [1][5]. Financial Performance - Investment property revenue for Q2 2025 was $150,403, a decrease of $2,188 or 1% from $152,591 in Q2 2024, primarily due to reduced parking revenue and unit vacancy [3][5]. - Investment property operating expenses decreased to $46,316 in Q2 2025 from $53,583 in Q2 2024, a reduction of $7,267 or 14%, attributed to lower maintenance and repair costs [3][5]. - Net rental income for Q2 2025 increased to $104,087, up $5,079 or 5% from $99,008 in Q2 2024 [3][5]. - Trust expenses for Q2 2025 were $1,341,315, down $186,411 or 12% from $1,527,726 in Q2 2024, mainly due to a one-time fee in the previous year [3][5]. Financing Activities - AIP Realty Trust announced a non-brokered private placement to issue up to 14,000,000 Preferred Units at $0.50 each, aiming for gross proceeds of up to $7,000,000, pending TSXV approval [5]. - The Trust has completed four tranches of financing between April 2024 and February 2025, raising $4,445,000 through the issuance of 8,890,000 Preferred Units [5]. - An engagement letter was signed with Desjardins Capital Markets for a fully marketed offering of approximately $100,000,000 in securities, with proceeds intended for the AllTrades Transaction and general working capital [5]. Business Outlook - AIP Realty Trust has an exclusive right to purchase AllTrades' completed and leased facilities, including 13 properties under forward purchase agreements [8]. - The Trust anticipates closing the AllTrades Transaction by the end of Q3 2025, which involves acquiring six completed facilities [9]. Company Overview - AIP Realty Trust is focused on a growing portfolio of AllTrades branded light industrial flex facilities, targeting small businesses in the U.S. [10]. - The Trust aims to expand its operations nationally, starting with the Dallas-Fort Worth market, and holds exclusive rights to finance and purchase properties developed by AllTrades [10].