RREEF Property Trust (RREEF) Q1 2026 earnings summary

Executive summary

• Portfolio consisted of 8 properties across office, industrial, retail, and residential sectors, plus a diversified portfolio of publicly traded REIT securities valued at $131,000 as of March 31, 2026.

• Weighted average remaining lease term for commercial leases was 6.7 years, with overall portfolio occupancy at 97.4%.

• Sold Elston Plaza for $27,000 in Q1 2026, resulting in a net realized gain of $231,000.

Financial highlights

• Total revenues for Q1 2026 were $8,738,000, down from $10,100,000 in Q1 2025, primarily due to property dispositions.

• Net loss for Q1 2026 was $425,000, an improvement from a net loss of $798,000 in Q1 2025.

• Funds from Operations (FFO) for Q1 2026 were $2,149,000, up slightly from $2,126,000 in Q1 2025; Adjusted Funds from Operations (AFFO) were $2,088,000, up from $1,962,000.

• Distributions declared for Q1 2026 totaled $3,258,000, with 42.7% covered by cash flow from operations and 57.3% by borrowings.

• Cash flow from operating activities was $1,390,000; investing activities provided $25,142,000, mainly from the Elston Plaza sale; financing activities used $26,864,000, primarily for debt repayment and redemptions.

Outlook and guidance

• Management expects to continue raising capital, increasing borrowings, and making future investments in targeted real estate segments.

• U.S. commercial real estate is expected to benefit from moderate economic growth, stable interest rates, firming demand, and reduced supply.

• Anticipates higher interest expense in future periods due to additional property acquisitions and potential increases in interest rates.