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Morguard North American Residential Actual Property Funding Belief (OTC:MNARF) Q2 2025 Earnings Name July 31, 2025 3:00 PM ET
Firm Members
Angela Sahi – President, COO & Non-Impartial Director
Christopher A. Newman – Chief Monetary Officer
John Talano – Senior Vice President of U.S. Operations
Paul Miatello – Senior Vice President
Ruth Grabel – Asset Supervisor
Convention Name Members
Alexander Leon – Desjardins Securities Inc., Analysis Division
Dean Mark Wilkinson – CIBC Capital Markets, Analysis Division
Jonathan Kelcher – TD Cowen, Analysis Division
Khing Shan – RBC Capital Markets, Analysis Division
Operator
Good afternoon, girls and gents, and welcome to the Morguard North American Residential REIT 2025 Second Quarter Outcomes Convention Name. [Operator Instructions] This name is being recorded on Thursday, July 31, 2025. I might now like to show the convention over to Paul Miatello. Please go forward.
Paul Miatello
Thanks very a lot, and good afternoon, everyone, and thanks for becoming a member of us for the REIT’s Q2 Outcomes Convention Name. I will simply do a fast roll name earlier than we get going. With us immediately, we’ve Angela Sahi, Government Vice President; John Talano, Senior Vice President; Ruth Grabel, Assistant Vice President; and our Chief Monetary Officer, Chris Newman.
And so simply with these fast introductions, I will flip it over to Chris for some ready feedback, after which we’ll open it up for Q&A. Chris?
Christopher A. Newman
All proper. Thanks, Paul. As is customary, I will present feedback on the REIT’s monetary place and efficiency.
By way of our monetary place, the REIT accomplished the second quarter of 2025 with complete property amounting to $4.5 billion. This was decrease in comparison with $4.6 billion as at December 31, 2024, primarily as a result of a lower within the U.S. greenback trade price. The REIT completed the second quarter with roughly $66 million of money readily available and $92.5 million superior to
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