Marwest Apartment Real Estate Investment Trust (V:MAR.UN)
Business Focus: Residential REITs
| Sector: Real Estate | Industry: Residential REITs |
| Company Contact | |
| Address: | 500 220 Portage Av. WINNIPEG MB R3C 0A5 |
| Tel: | N/A |
| Website: | https://marwestreit.com |
| IR: | See website |
| Key People | ||
| William Martens Chief Executive Officer, Trustee | Jennifer Nazimek Chief Financial Officer, Corporate Secretary | Armin W. Martens Executive Vice President |
| Business Overview |
| Marwest Apartment Real Estate Investment Trust (the REIT) is an open-ended real estate investment trust. The REIT is formed to provide unitholders with the opportunity to invest in the Canadian multi-family rental sector through the ownership of income-producing properties, with an initial focus on stable markets throughout Western Canada. The REIT properties include Element, Prairie View Pointe, Brio Brownstones and Kenwood Court. Element Townhomes include 112 multi-family units in Transcona. Element offers a resident clubhouse and is in close proximity to numerous shopping, dining and entertainment options within the neighborhood. Prairie View Pointe is located in North Winnipeg, with immediate access to the Perimeter Highway. Kenwood Court is located on the desirable South St. Vital neighborhood. Kenwood Court is surrounded by comfort, greenery, and riverside walkways. Brio Brownstones property includes approximately 148 units and luxurious clubhouse. |
| Financial Overview |
| For the fiscal year ended 31 December 2023, Marwest Apartment Real Estate Inv Trust revenues increased 39% to C$10M. Net income increased from C$3.4M to C$8.7M. Revenues reflect an increase in demand for the Company's products and services due to favorable market conditions. Net income benefited from Fair value gain on investment properties increase from C$2.1M to C$7.5M (income), Mortgage and financing charges decrease of 87% to C$27K (expense). |
| Reporting Currency: | Canadian Dollars |
| Enterprise value: | $105.42M as of Mar 31, 2024 |
| Annual revenue (TTM): | $9.96M as of Mar 31, 2024 |
| EBITDA (TTM): | $6.36M as of Mar 31, 2024 |
| Net annual income (TTM): | $8.70M as of Mar 31, 2024 |
| Free cash flow (TTM): | $2.19M as of Mar 31, 2024 |
| Net Debt Last Fiscal Year: | $99.00M as of Mar 31, 2024 |
| Shares outstanding: | 8,657,564 as of Dec 31, 2023 |
| TTM: Trailing Twelve Months EBITDA: Earnings Before Interest, Taxes, Depreciation, & Amortization | |
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