Owns and leases commercial properties to tenants in the United States and internationally, and invests in other real estate assets.
10-K for FY2025, filed Mar 30, 2026
Tenants pay contractual rent as it comes due; proceeds from property sales come when ownership transfers.
10-K for FY2025, filed Mar 30, 2026
10-K for FY2025, filed Mar 30, 2026
FY2025 revenue by reportable segment ↗$425.2M
10-K for FY2025, filed Mar 30, 2026
$425.2M ↗| Segment | Share | Revenue | How money arrives |
|---|---|---|---|
|
Office investments
Recurring
10-K for FY2025, filed Mar 30, 2026 |
19%
FY2022: 22%
|
Office investments, FY2025
$82.5M Sources
|
Recurring |
|
Industrial investments
Recurring
10-K for FY2025, filed Mar 30, 2026 |
28%
FY2022: 36%
|
Industrial investments, FY2025
$119.5M Sources
|
Recurring |
|
Residential/Living investments
Recurring
10-K for FY2025, filed Mar 30, 2026 |
30%
FY2022: 20%
|
Residential/Living investments, FY2025
$128.3M Sources
|
Recurring |
|
Retail investments
Recurring
10-K for FY2025, filed Mar 30, 2026 |
14%
FY2022: 12%
|
Retail investments, FY2025
$58.3M Sources
|
Recurring |
|
Other investments
Recurring
|
8.6%
FY2022: 10%
|
Other investments, FY2025
$36.7M Sources
|
Recurring |
Tenants occupy leased space in the trust’s properties and pay contractual rent as it comes due.
10-K for FY2025, filed Mar 30, 2026
Yes. It kept 4 cents of every revenue dollar as net income in FY2025.
10-K for FY2025, filed Mar 30, 2026
10-K for FY2025, filed Mar 30, 2026
$17.3MView ↗
10-Q for Q2 FY2026, filed Aug 14, 2026
−$8.9MView ↗
10-Q for Q2 FY2026, filed Aug 14, 2026
Open tableView ↗
Growing. Revenue grew 2.4x in 4 years, from $175.9M in FY2021 to $425.2M in FY2025, about 25% a year.
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