Financial Performance - AIP Realty Trust reported a decrease in investment property revenue to $552,699 in 2024, down approximately 7% from $595,793 in 2023, primarily due to lease expirations and unit vacancy [3][4] - The Trust's net rental income also fell to $347,523 in 2024 from $398,053 in 2023, while total comprehensive loss increased to $3,243,978 from $2,671,554 [3][4] - Operating expenses rose to $205,176 in 2024 compared to $197,740 in 2023, and Trust expenses significantly increased to $3,887,025 from $3,141,607 [3][4] Property and Investment Activities - The Trust owns a fully leased multi-tenant light industrial flex facility in Lewisville, Texas, which generated the reported investment property revenue [4] - AIP Realty Trust has entered into a securities purchase agreement to acquire AllTrades Industrial Properties, which focuses on developing and managing Serviced Industrial Business Suites [4][8] - The Trust completed a private placement, issuing 8,890,000 Preferred Units for gross proceeds of $4,445,000, which will be used for working capital and corporate purposes [4] Future Developments - AIP Realty has secured exclusive rights to purchase completed and leased facilities from AllTrades, including 13 properties in the Dallas-Fort Worth area [8] - The Trust announced a $300 million credit facility to finance the acquisition of AllTrades facilities, with an initial amount of $100 million [9][10] - A joint venture is being formed to develop new AllTrades SIBS facilities across the Sunbelt states, with the Trust having the option to purchase these facilities at a 10% discount post-completion [11][12] Management and Compensation - The executive management team of AIP Realty is the same as that of AllTrades, with no cash payments made to the management team during 2024 or 2023 [7] - Cash payments of $50,000 were made to each independent trustee in the fourth quarter of 2024, totaling $200,000 [7]