Melcor REIT announces Q4 and 2022 annual results
Provided By Globe Newswire
Last update: Mar 9, 2023
EDMONTON, Alberta, March 08, 2023 (GLOBE NEWSWIRE) -- Melcor REIT (TSX: MR.UN) today announced results for the fourth quarter and year ended December 31, 2022. Annual rental revenue was steady at $74.11 million. Annual adjusted cash flow from operations (ACFO1) was down 13% to $17.87 million or $0.61 per unit as a result of higher spend on tenant incentives and direct leasing costs, as well as higher distributions on Class B LP units. ACFO better reflects our cash position and therefore our ability to pay distributions by excluding accretion expense, which is a non-cash item1.
