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Artis Real Estate Investment Trust (AX-UN) investor relations material
Artis Real Estate Investment Trust Q3 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
Entered into an agreement for RFA Capital Holdings Inc. to acquire all outstanding units, forming RFA Financial, with a unitholder vote scheduled for December 11, 2025 and anticipated closing in Q1 2026.
Maintained focus on reducing leverage, strengthening the balance sheet, and growing the portfolio organically despite a challenging environment.
Financial highlights
Revenue for Q3 2025 was $59.5 million, down 10.3% year-over-year; net operating income was $30.1 million, down 11.7%.
Reported a net loss of $33.6 million for Q3 2025, compared to a net loss of $11.6 million in Q3 2024.
FFO for Q3 2025 was $17.1 million (down 47.4% year-over-year), and AFFO was $8.6 million (down 60.8%).
Distributions per common unit remained at $0.15 for the quarter.
Same Property NOI increased 2.4% year-over-year in Q3 2025.
Outlook and guidance
Management expects the proposed combination with RFA to provide multiple growth avenues, enhanced access to capital, and exposure to the financial services sector.
Unitholders are encouraged to vote in favor of the transaction, with anticipated benefits from redeployment of capital into RFA Financial's platforms.
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