![]() ![]() NOI Margins and Same Community NOI Margins decreased over the same period due to property tax increases, staffing changes and increased repairs and maintenance pertaining to weather-related events. The increase in NOI was primarily driven by the REIT's Acquisitions, lot rent growth and cost containment efforts. NOI for the first quarter of 2023 was $11.1 million, compared to $9.3 million, an increase of 20.1% compared to the first quarter of 2022. Net income and comprehensive income for the three months ended Mawas $16.2 million, approximately $13.8 million more than the same period last year, as a result of the fair value gain on investment property being more than in the same period in 2022. This increase was driven by increasing monthly lot rent year over year as well as growth in Same Community Occupancy and increases in utility revenue. ![]() Same Community Revenues of $14.9 million for the first quarter ended March 31, 2023, exceeded the first quarter ended Maby approximately $1.3 million or 9.7%. Rental revenue and related income in the first quarter of 2023 was $16.8 million, up 22.4% compared to the same period last year primarily due to Acquisitions, lot rent increases and occupancy increases across the portfolio. Published third annual Environmental, Social and Governance ("ESG") report, which outlines Flagship's commitments to its unitholders, employees, and communities through initiatives on renewable energy, education, household amenities, and resident well-being.and Community Impact of the Year for efforts associated with Grandin Pointe Received three of the Manufactured Housing Institute's highest national awards for excellence in manufactured housing including: Land Lease Community Operator of the Year, Retail Sales Center of the Year for the Eastern U.S.Subsequent to quarter-end, acquired three Manufactured Housing Communities ("MHC") in Indiana, Arkansas and Tennessee, for a purchase price of approximately US$21 million. ![]()
0 Comments
Leave a Reply. |