Marwest Apartment Real Estate Investment Trust (MAR-UN.V) swung to net income year over year in the first quarter, the company said overnight Thursday.
Marwest booked a net income of $41,416 for the three months ended March 31, reversing a net loss of $752,265 a year ago.
Revenue from investment properties rose to $2.7 million from $2.6 million while funds from operations rose to $0.0267 per unit from $0.0254 per unit.
"Q1 has shown stable occupancy with rental increases of 1.9% over the same period last year," Chief Executive Officer William Martens said. "We anticipate continued modest increases throughout the remainder of 2026, due to reduced immigration and non-renewal of existing non-resident visas."