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BSR Real Estate Investment Trust (BSR REIT) reported a total revenue decline of USD 9.2 million in the past quarter, largely due to property dispositions. Despite the setback, the company recorded a 2.7% rise in Same Community Net Operating Income (NOI), supported by tax refunds and insurance savings. The acquisition of The Ownsby in Texas for USD 87.5 million further strengthened its portfolio. With improving economic and demographic trends across the Texas Triangle, BSR REIT expressed confidence in revenue stabilisation and refinancing of upcoming debt maturities.
BSR Real Estate Investment Trust (BSR REIT) recorded a fall in total revenue by USD 9.2 million during the past quarter, primarily impacted by property sales. Nonetheless, its Same Community Net Operating Income (NOI) increased by 2.7%, reflecting benefits from tax refunds and insurance cost reductions. Advertisement
The REIT expanded its portfolio through the acquisition of The Ownsby, a residential property located in the Dallas Metropolitan Statistical Area, for USD 87.5 million. The purchase was funded through the company’s Credit Facility and available cash, underscoring its strategic focus on high-performing assets within the Texas market.
Operationally, occupancy levels demonstrated notable progress, with Aura 35Fifty’s occupancy improving to 86.6% from 59.7% recorded in the previous quarter, highlighting strong leasing momentum. Additionally, BSR REIT reported its first positive blended rental rate change since the same quarter a year earlier, as both new leases and renewals reflected improvement.
The REIT announced an adjusted Funds From Operations (FFO) of USD 6.4 million and a total FFO of USD 7.6 million for the reporting period, while its net asset value stood at USD 648.8 million.
Looking ahead, BSR REIT expects its revenue to strengthen as newly acquired and developed properties stabilise. The company stated it remains well positioned to outperform peers, supported by robust economic and demographic trends within the Texas Triangle region. Management also conveyed confidence in the REIT’s ability to refinance upcoming debt maturities effectively. Overall, despite a dip in total revenue this quarter, BSR REIT’s operational gains, portfolio enhancement, and improved rental dynamics suggest a resilient outlook for its future performance.
Source - Reuters
5th Jun, 2025
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