SEDAR Interim Financial Statements

[
  {
    "companyName": "PRO Real Estate Investment Trust",
    "reportingPeriodEnd": "2025-09-30",
    "reportStatus": "Unaudited",
    "auditorName": null,
    "auditorKeyMatters": [],
    "balanceSheet": {
      "nonCurrentAssets": {
        "investmentProperties": 1048410,
        "propertyAndEquipment": 1828,
        "intangibleAssets": 2876,
        "total": 1053114
      },
      "currentAssets": {
        "receivablesAndOther": 12786,
        "cash": 17823,
        "total": 30609
      },
      "totalAssets": 1083723,
      "nonCurrentLiabilities": {
        "debt": 311686,
        "longTermIncentivePlan": 8106,
        "total": 319792
      },
      "currentLiabilities": {
        "debt": 219457,
        "classBLPUnits": 22462,
        "accountsPayableAndOtherLiabilities": 19780,
        "distributionsPayable": 2516,
        "total": 264215
      },
      "totalLiabilities": 584007,
      "unitholdersEquity": 499716,
      "totalLiabilitiesAndEquity": 1083723,
      "cashPerShare": null,
      "workingCapitalPerShare": null
    },
    "incomeStatement": {
      "propertyRevenue": 77871,
      "propertyOperatingExpenses": 30499,
      "netOperatingIncome": 47372,
      "generalAndAdministrativeExpenses": 3960,
      "longTermIncentivePlanExpense": 2093,
      "depreciationOfPropertyAndEquipment": 454,
      "amortizationOfIntangibleAssets": 184,
      "interestAndFinancingCosts": 18290,
      "distributionsClassBLPUnits": 805,
      "fairValueAdjustmentClassBLPUnits": -411,
      "fairValueAdjustmentInvestmentProperties": -11957,
      "fairValueAdjustmentDerivativeFinancialInstruments": 1255,
      "otherIncome": -3056,
      "otherExpenses": 1607,
      "debtSettlementCosts": 962,
      "netIncomeAndComprehensiveIncome": 33186
    },
    "cashFlowStatement": {
      "operatingActivities": {
        "netIncomeAndComprehensiveIncome": 33186,
        "depreciationOfPropertyAndEquipment": 454,
        "amortizationOfFinancingCosts": 1219,
        "amortizationOfIntangibleAssets": 184,
        "longTermIncentivePlanExpense": 2093,
        "straightLineRentAdjustment": -772,
        "fairValueAdjustmentClassBLPUnits": -411,
        "fairValueAdjustmentInvestmentProperties": -11957,
        "fairValueAdjustmentDerivativeFinancialInstruments": 1255,
        "accretionExpenseConvertibleDebentures": 284,
        "changesInNonCashWorkingCapital": -4748,
        "netCashFlowsProvidedByOperatingActivities": 20787
      },
      "financingActivities": {
        "issuanceCosts": -906,
        "repaymentOfMortgagesAndTermLoan": -73145,
        "increaseInMortgagesAndTermLoan": 58925,
        "increaseInCreditFacilities": 91500,
        "repaymentOfCreditFacilities": -46500,
        "financingCosts": -966,
        "distributionsPaidOnUnits": -20626,
        "restrictedAndDeferredUnitsSettledInCash": -785,
        "netCashFlowsProvidedByFinancingActivities": 7497
      },
      "investingActivities": {
        "acquisitionOfInvestmentProperties": -57557,
        "additionsToInvestmentProperties": -16717,
        "netProceedsOnDisposalOfInvestmentProperties": 58369,
        "leasingCommissions": -3481,
        "additionsToPropertyAndEquipment": -144,
        "netCashFlowsUsedInInvestingActivities": -19530
      },
      "changeInCash": 8754,
      "cashBeginning": 9069,
      "cashEnd": 17823
    },
    "investmentsAndOtherAssets": [
      {
        "type": "Joint Operations",
        "description": "Co-ownership in several investment properties located in Dartmouth, Nova Scotia; Moncton, New Brunswick",
        "ownershipPercentage": 50,
        "value": 264450,
        "notes": "The REIT's proportionate share of investment properties from joint operations. Recognized on a line-by-line basis in the consolidated financial statements."
      }
    ],
    "shareStructure": {
      "authorizedShares": "unlimited",
      "issuedShares": 63213748,
      "classesOfShares": ["Units", "Class B LP Units", "Special Voting Units"],
      "warrants": [],
      "options": [],
      "rightsConvertibleInstruments": "Convertible Debentures, principal amount $35,000, convertible at $7.00 per Unit"
    },
    "managementCompensation": {
      "currency": "CAD",
      "periods": {
        "9MonthsEndedSeptember302025": {
          "salariesAndBenefits": 1356,
          "longTermIncentivePlanCashSettled": 513,
          "longTermIncentivePlanIssuance": 1817,
          "total": 3686
        }
      },
      "namedIndividuals": [],
      "otherRelatedPartyTransactions": []
    },
    "subsequentEvents": [
      {
        "eventDate": "2025-10-21",
        "description": "Declared a cash distribution of $0.0375 per Unit for the month of October 2025, payable on November 17, 2025.",
        "impactValue": null
      },
      {
        "eventDate": "2025-10-24",
        "description": "Sold an office property in Saint John, New Brunswick for gross proceeds of $7,175. Net proceeds used to partially repay the revolving credit facility.",
        "impactValue": 7175
      },
      {
        "eventDate": "2025-11-05",
        "description": "Sold a retail property in Rocky Mountain House, Alberta for gross proceeds of $435. Net proceeds and cash on hand used to partially repay a related mortgage.",
        "impactValue": 435
      }
    ]
  }
]