AIP Realty Trust Announces Third Quarter 2025 Results

Executive Summary

• AIP Realty Trust reported Q3 2025 investment property revenue of $122,118 (up 5% YoY) and net rental income of $78,440 (up 17% YoY).
• Trust expenses fell to $653,692, a 4% reduction year‑over‑year, driven by lower trustee fees and professional costs.
• The fifth tranche of the non‑brokered private placement issued a total of 9,894,000 Preferred Units Series B Convertible for aggregate gross proceeds of $4.947 million, with an additional $152,000 paid in finder’s fees.

Key Details

• Q3 2025 Investment Property Revenue: $122,118 vs. $116,741 in Q3 2024 (+$5,377 / +5%).
• Investment Property Operating Expense: $43,678 vs. $49,769 in Q3 2024 (‑$6,091 / ‑12%).
• Net Rental Income: $78,440 vs. $66,972 in Q3 2024 (+$11,468 / +17%).
• Total Trust Expenses: $653,692 vs. $681,575 in Q3 2024 (‑$27,883 / ‑4%).
• Trustee fees & management compensation down $17,500 due to trustee term expiration.
• Professional fees down $14,016 mainly from lower consulting and IR costs.
• Loss Before Other Items: $(575,252) for Q3 2025 vs. $(614,603) in Q3 2024.
• Net Loss (Comprehensive): $(569,639) for Q3 2025 vs. $(613,424) in Q3 2024.

Financing – Fifth Tranche

• Units Issued: 9,894,000 Preferred Units Series B Convertible.
• Price per Unit: US$0.50.
• Aggregate Gross Proceeds: $4,947,000.
• Finder’s Fees Paid: $152,000 to a non‑related third party.
• Hold Period: Each unit subject to a 4‑month + 1‑day hold from issuance date.
• Earlier Issuance (Oct 1 – Nov 21 2025): 8,824,000 units for $4,412,000 of proceeds.

Subsequent Events & Outlook

• Exclusive right to purchase all AllTrades completed and leased facilities; 11 properties under forward purchase agreements (6 DFW‑area completed/near completion, 5 in development).
• Development funded by equity from AllTrades and Trinity Investors ($7 billion Dallas‑based PE firm).
• Board anticipates closing the AllTrades transaction by end of Q1 2026.

Balance Sheet Highlights (Unaudited)

• Investment Property: $6,105,637 (Sept 30 2025) vs. $5,992,598 (Dec 31 2024).
• Cash: $54,506 (Sept 30 2025) vs. $569,601 (Dec 31 2024).
• Project Debt (net of discount): $2,848,940 (Sept 30 2025) vs. $2,920,352 (Dec 31 2024).
• Accounts Payable & Accrued Expenses: $8,351,027 (Sept 30 2025) vs. $6,670,515 (Dec 31 2024).
• Units Outstanding: 4,924,448 (unchanged).

Notable Quotes

(No direct quotes were provided in the release.)