Significant Increase in Net Income
Net income of $0.70 per diluted share reported for Q1 2025, compared to a net loss of $0.83 per diluted share for Q1 2024, driven by increased interest income.
Interest Income Surge
Interest income increased by $23.6 million to $22 million in Q1 2025 from a net loss of $1.6 million in Q1 2024, attributed to higher rates.
Positive Developments in Life Sciences
The Alewife project is in negotiations for leases covering two-thirds of the project, which would result in a 10-plus percent debt yield.
Strong Performance in Residential Sector
Record absorption of 138,000 multifamily units in Q1 2025, with positive new lease growth in 40% of the owned rental portfolio.
Promising Self-Storage Investments
Commitment to four self-storage development opportunities with projected returns of approximately 18.5%.