)
Edge31 Oct 2025
Rolls-Royce: Full Thrust Ahead
From century-old crafted perfection to pandemic shock and reset, Rolls-Royce's story is shaped by heritage, turbulence, and a disciplined climb back.
Dream Impact Trust (MPCT) investor relations material
Dream Impact Trust Q3 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q3 2025 earnings summary4 Nov, 2025
Executive summary
Q3 2025 saw continued progress on leasing and development, with major projects like Fortin on Ontario, Keyside, 49 Ontario St, and Quayside advancing despite a challenging Ontario housing market and economic headwinds.
Innovative public-private partnerships, government support, and development charge waivers have enabled affordable housing initiatives and cost reductions.
The portfolio is shifting toward apartments, targeting 90% by 2030, with a focus on stabilized cash flow and reduced risk.
Completed extension of Fairfax convertible debentures to 2031 and secured a $15 million loan from Dream, enhancing liquidity and financial flexibility.
Reduced land loan exposure by over $100 million in 2025, including extensions with no repayment required.
Financial highlights
Q3 2025 net loss was CAD 10.3 million, compared to a net loss of CAD 7.6 million in Q3 2024, mainly due to deferred tax recoveries, fair value adjustments, timing of condo occupancies, and a non-recurring property tax assessment.
Same property NOI was CAD 1.7 million, flat year-over-year; multi-family rental NOI was $4.2 million, and recurring income NOI was $4.4 million for Q3 2025.
Multifamily leasing improved, with Leaside assets 90% leased, up from 75% last quarter, and purpose-built rental assets in lease-up exceeding 90% occupancy.
Development segment reported a net loss of CAD 1.4 million, impacted by timing of condo occupancies and fair value changes.
Over CAD 119 million in debt was reduced during the quarter, with total consolidated debt at $274.5 million and total assets at $656.9 million as of September 30, 2025.
Outlook and guidance
Lease-up assets are expected to stabilize and contribute to increased recurring earnings over the next year.
Anticipates positive cash flow upon completion of Fortin on Ontario and stronger cash flows after Keyside, expected by 2030.
Expects to repay the Fortin on Ontario land loan within 90 days and continue reducing land loans.
Demolition at 49 Ontario St to begin soon, with construction loan draws to follow; Quayside development to commence in the second half of 2026.
Plans to sell a similar amount of properties as in recent years, with a focus on transitioning to an apartment-centric portfolio.
How do PPPs enhance project viability?
Update on land loan reduction target and timeline.
How will new supply impact future rent growth?
Partial view of Summaries dataset, powered by Quartr API
Research faster. Power your platform.
Next Dream Impact Trust earnings date
Q4 20259 Feb, 2026
Next Dream Impact Trust earnings date
Q4 20259 Feb, 2026
The essential earnings season companion
The #1 app for qualitative research. Live earnings calls, AI chat, transcripts, and more. All for free.
Live calls and transcripts
Listen to earnings calls, CMDs, investor conferences, and more – with a podcast-like experience.
Find what you need faster
Search for any keyword across all transcripts simultaneously.
Easily store key findings
Capturing important takeaways is as simple as it gets. Even during your lunch run or commute.
Your watchlist. Your dashboard.
Follow the companies that matter to you. Get a personalized feed with real-time updates.
Be the first to know
Set keyword alerts for any company, product, or competitor. Get notified the moment they're mentioned.
Consensus estimates
Access analyst consensus estimates, valuation multiples, and revenue segments splits.
All IR material in one place
The easiest way to stay updated during earnings season.
Global coverage
All events from public companies. Live and recorded.
Just click and listen
No webcast links. No manual registrations.
excellent app, it gives me free access to company earnings calls and annual reports. I also love the convenience of calls being available offline so I can listen in whilst doing other things and even when internet or WiFi isn't available.
)
Leroy DaleyApp Store
One of the very few apps you could call perfect. If something was to add to it, maybe the share price of the company when you search for it, but it's already excellent.
)
Eferix Drawings Google Play
This is genuinely one of the cleanest and fastest finance apps out there to track the market.
anuj283App Store
excellent app, it gives me free access to company earnings calls and annual reports. I also love the convenience of calls being available offline so I can listen in whilst doing other things and even when internet or WiFi isn't available.
Leroy DaleyApp Store
One of the very few apps you could call perfect. If something was to add to it, maybe the share price of the company when you search for it, but it's already excellent.
Eferix Drawings Google Play
This is genuinely one of the cleanest and fastest finance apps out there to track the market.
anuj283App Store
I can't remember the last time an app had such a positive impact on my investment process.
)
@ankurshah47_ x.com
Love the app! Quartr makes it really easy to keep track of earnings calls. It also includes the reports and slides to make it easier to follow along.
Amina0781App Store
Quartr is amazing, no way around it. It is the best right now for earnings calls, presentations, and the like.
@theshortbearx.com
I can't remember the last time an app had such a positive impact on my investment process.
@ankurshah47_ x.com
Love the app! Quartr makes it really easy to keep track of earnings calls. It also includes the reports and slides to make it easier to follow along.
Amina0781App Store
Quartr is amazing, no way around it. It is the best right now for earnings calls, presentations, and the like.
@theshortbearx.com
)
)
Frequently asked questions
Dream Hard Asset Alternatives Trust is designed to provide exposure to investments in hard asset alternatives, including real estate, infrastructure, and natural resources. The Trust is a multiple alternative mutual fund that seeks to seek long-term total return principally through tax-efficient distributions and capital appreciation while limiting volatility by monitoring diversification and exposure limits.
Quartr provides global coverage of all investor relation material from public companies.
Mobile app: Research anytime, anywhere with the #1 app for live earnings calls, transcripts, analyst estimates, and more. All for free.
Desktop (Quartr Pro): The leading platform for qualitative research, used daily by top firms and financial institutions.
Quartr API: Build custom solutions powered by live earnings calls, live transcripts, filings and reports, slide presentations, and more.
Yes, the Quartr mobile app is free on both iOS and Android.
Yes. Quartr provides global, industry-leading live coverage of company events such as regular earnings calls, capital markets days, M&A announcements, and investor conferences. Live with zero delays. Just click and listen.
Yes, capturing important takeaways is as simple as it gets. Even during your lunch run or commute.
Yes. Follow the companies that matter to you. Get a personalized feed with real-time updates, a tailored earnings calendar, and instant alerts when earnings calls go live.
Yes. Set keyword alerts for any company, product, or competitor. Get notified the moment they're mentioned, regardless of who's talking.
Explore our global coverage