This press release contains forward-looking information that is based upon assumptions and is subject to risks and uncertainties as indicated in the cautionary note contained within this press release. All dollar amounts are in U.S. dollars.

TORONTO–(BUSINESS WIRE)–DREAM RESIDENTIAL REAL ESTATE INVESTMENT TRUST (TSX: DRR.U, TSX: DRR.UN) (“Dream Residential REIT” or the “REIT” or “we” or “us”) today announced its financial results for the three and six months ended June 30, 2025 (“Q2 2025”).

HIGHLIGHTS

• Comparative properties net operating income (“comparative properties NOI”)¹ was $6.4 million in Q2 2025, a 1.1% increase from Q2 2024. Net rental income was $8.2 million in Q2 2025 or $0.2 million higher than the prior year comparative quarter mainly due to an increase in investment properties revenue.

• Diluted funds from operations (“FFO”) per Unit² was $0.18 for Q2 2025, consistent with Q2 2024, comprising a slight increase in comparative properties NOI, offset by a decrease in interest and other income and an increase in interest expense on debt.

• Portfolio occupancy increased to 95.2% as at June 30, 2025, from 93.3% at the end of Q1 2025, with the Greater Oklahoma City region at 94.8%, Greater Dallas–Fort Worth region at 94.8% and Greater Cincinnati region at 96.3%. During the quarter, we completed renovations on six units in the Greater Cincinnati region.

• Average monthly rent at June 30, 2025 was $1,186 per unit compared to $1,182 per unit at March 31, 2025.

• Maintaining conservative balance sheet and financial flexibility. Net total debt-to-net total assets³ was 33.1% as at June 30, 2025, compared to 33.0% as at December 31, 2024. Total mortgages payable were $124.4 million, consisting of nine fixed rate mortgages with a weighted average contractual interest rate of 4.0%. Total amounts outstanding on the revolving credit facility were $16.0 million. Total assets (per condensed consolidated financial statements) were $410.2 million as at June 30, 2025. Total assets comprised primarily $399.1 million of investment properties and $6.7 million of cash and cash equivalents.

• Strategic Review. The REIT’s strategic review process (the “Strategic Review”) to identify, evaluate and pursue a range of strategic alternatives with the goal of maximizing unitholder value remains ongoing.

_______________________________________________

1 Comparative properties NOI is a non-GAAP financial measure. The tables included in the Appendices section of this press release reconcile comparative properties NOI to net rental income for the three and six months ended June 30, 2025 and June 30, 2024. For further information on this non-GAAP financial measure, please refer to the statements under the heading “Non-GAAP financial measures, ratios and supplementary financial measures” in this press release.

2 Diluted FFO per Unit is a non-GAAP ratio. Diluted FFO per Unit comprises FFO (a non-GAAP financial measure) divided by the weighted average number of Units. For further information on this non-GAAP ratio, please refer to the statements under the heading “Non-GAAP financial measures, ratios and supplementary financial measures” in this press release.

3 Net total debt-to-net total assets is a non-GAAP ratio. For further information on this non-GAAP ratio, please refer to the statements under the heading “Non-GAAP financial measures, ratios and supplementary financial measures” in this press release.

Dream Residential REIT has not established a definitive timeline to complete the Strategic Review process nor any transaction and no decisions have been reached at this time. As such, the process is subject to unknown variables, including the costs, structure, terms, timing and outcome. There can be no assurance that the Strategic Review will result in any transaction or initiative or, if a transaction or initiative is undertaken, the terms or timing of such a transaction or initiative and its impact on the financial condition, liquidity, and results of operations of the REIT. The REIT does not intend to disclose further developments in connection with the Strategic Review until it is determined that disclosure is necessary, appropriate or required.

“The REIT delivered solid operational and financial performance in Q2 2025,” said Brian Pauls, Chief Executive Officer of Dream Residential REIT. “Dream Residential REIT continued to make incremental gains by growing rents and net operating income. We are encouraged by the REIT’s performance through the first half of 2025 and will continue to operate the portfolio with a focus on prudent capital allocation, operational efficiency and maintaining a conservative balance sheet.”

• Q2 2025 net income for the three months ended June 30, 2025 was $0.8 million, which comprises net rental income of $8.2 million, fair value adjustments to investment properties of $(1.2) million and fair value adjustments to financial instruments of $(2.3) million, primarily from the revaluation of Class B units of DRR Holdings LLC, a subsidiary of the REIT (“Class B Units” – together with the units of the REIT (“Trust Units”, “Units”)). Other income and expenses totalled $(3.9) million.
• Total equity (per condensed consolidated financial statements) was $230.1 million as at June 30, 2025, compared to $240.5 million as at December 31, 2024, driven by the year-to-date net loss and distributions paid and payable.
• Net asset value (“NAV”)⁴ per Unit was $13.44 as at June 30, 2025, compared to $13.39 as at December 31, 2024.
• The REIT declared distributions totalling $0.105 per Unit during Q2 2025.

FINANCIAL HIGHLIGHTS

		Three months ended June 30,				Six months ended June 30,
(in thousands unless otherwise stated)		2025		2024		2025		2024
Operating results
Net income (loss)	$	843	$	3,346	$	(7,208)	$	4,162
FFO(1)		3,499		3,516		6,903		6,963
Net rental income		8,181		7,984		14,417		14,617
Comparative properties NOI(10)		6,435		6,362		12,566		12,443
Comparative properties NOI margin(11)		51.9%		52.6%		51.4%		51.6%
Per Unit amounts
Distribution rate per Trust Unit	$	0.105	$	0.105	$	0.210	$	0.210
Diluted FFO per Unit(2)(3)		0.18		0.18		0.35		0.35
See footnotes at end

_______________________________________________

4 NAV per Unit is a non-GAAP ratio. NAV per Unit comprises total equity (including Class B Units) (a non-GAAP financial measure) divided by the number of Units. For further information on this non-GAAP ratio, please refer to the statements under the heading “Non-GAAP financial measures, ratios and supplementary financial measures” in this press release.

Net income for Q2 2025 was $0.8 million compared to $3.3 million in Q2 2024 and comprises fair value adjustments to investment properties of $(1.2) million and fair value adjustments to financial instruments of $(2.3) million. FFO for Q2 2025 and the prior year comparative quarter was consistent year-over-year at $3.5 million. Q2 2025 diluted FFO per Unit was $0.18, consistent with the prior year comparative quarter.

Net rental income for Q2 2025 was $8.2 million and compares to $8.0 million in the comparative quarter. The increase in net rental income from the comparative quarter was largely driven by an increase in investment properties revenue. Comparative properties NOI for Q2 2025 was $6.4 million and consistent with the comparative quarter. Comparative properties NOI margin for Q2 2024 was 51.9%, compared to 52.6% in the comparative quarter. Q2 2025 comparative properties NOI includes comparative investment properties revenue of $12.4 million, which increased by $0.3 million from the comparative quarter. The increase was driven by positive blended lease trade-outs and rental premiums from our value-add program. Investment properties operating expenses were $6.0 million for Q2 2025, and $5.7 million for the comparative quarter when excluding the impact of IFRIC 21, “Levies” (“IFRIC 21”), as a result of increased property taxes and utilities, generally offset by lower property insurance expenses.

PORTFOLIO INFORMATION						As at
		June 30, 2025		March 31, 2025		June 30, 2024
Total portfolio
Number of assets		15		15		15
Investment properties fair value (in thousands)	$	399,093	$	399,555	$	396,800
Units		3,300		3,300		3,300
Occupancy rate – in place (period-end)		95.2%		93.3%		94.0%
Average in-place base rent per month per unit	$	1,186	$	1,182	$	1,167
Estimated market rent to in-place base rent spread (%) (period-end)		4.1%		3.0%		8.8%
Tenant retention ratio(12)		57.4%		57.5%		59.2%
See footnotes at end

ORGANIC GROWTH

Weighted average monthly rent as at June 30, 2025 was $1,186 per unit, compared to $1,182 per unit at March 31, 2025. Rental rates increased 1.3% in the Greater Cincinnati region, remained consistent in the Greater Oklahoma City region and decreased 0.4% in the Greater Dallas–Fort Worth region since March 31, 2025.

During Q2 2025, blended lease trade-outs averaged 1.5% compared to 0.4% in Q1 2025. This comprises an average increase on renewals of approximately 3.7% (March 31, 2025 – increase of 4.0%) and an average decrease on new leases of approximately 1.3% (March 31, 2025 – decrease of 4.3%). As at June 30, 2025, estimated market rents were $1,235 per unit, or an average gain-to-lease for the portfolio of 4.1%. The retention rate for the quarter ended June 30, 2025 was 57.4% compared to 57.5% for the three months ended March 31, 2025.

Value-add initiatives

During Q2 2025, renovations were completed on six suites in the Greater Cincinnati region, with an additional five suites under renovation as at June 30, 2025. For the three months ended June 30, 2025, the average new lease trade-out on renovated suites was $90 per unit higher than expiring leases, or a lease trade-out of 7.3%.

“Occupancy has improved by 190 basis points since Q1 2025, driven by our emphasis on tenant retention and ongoing leasing efforts,” said Scott Schoeman, Chief Operating Officer of Dream Residential REIT. “We are pleased with the REIT’s leasing momentum with blended lease trade-out accelerating from Q1 2025.”

FINANCING AND CAPITAL INFORMATION

				As at
(unaudited) (dollar amounts presented in thousands, except for per Unit amounts)		June 30, 2025		December 31, 2024
Financing
Net total debt-to-net total assets(4)		33.1%		33.0%
Average term to maturity on debt (years)		4.3		4.8
Interest coverage ratio (times)(5)		2.9		2.9
Undrawn credit facility	$	54,000	$	55,000
Available liquidity(6)	$	60,728	$	60,382
Capital
Total equity	$	230,066	$	240,489
Total equity (including Class B Units)(7)	$	264,772	$	263,528
Total number of Trust Units and Class B Units(8)		19,696,492		19,678,695
Net asset value (“NAV”) per Unit(9)	$	13.44	$	13.39
Trust Unit price	$	9.40	$	6.24
See footnotes at end

As at June 30, 2025, net total debt-to-net total assets⁽⁴⁾ was 33.1%, total debt was $140.4 million and total assets were $410.2 million. The REIT ended Q2 2025 with total available liquidity⁽⁶⁾ of approximately $60.7 million, comprising $6.7 million of cash and cash equivalents and $54.0 million available on its undrawn revolving credit facility.

Total equity of $230.1 million decreased from December 31, 2024 by $10.4 million, primarily due to the year-to-date net loss and distributions paid and payable. As at June 30, 2025, there were approximately 16.0 million Trust Units and 3.7 million Class B Units.

NAV per Unit as at June 30, 2025 was $13.44 compared to $13.39 as at December 31, 2024.

OTHER INFORMATION

Information appearing in this press release is a select summary of financial results. The condensed consolidated financial statements and management’s discussion and analysis for the REIT will be available at www.dreamresidentialreit.ca and under the REIT’s profile on www.sedarplus.com.

Dream Residential REIT is an unincorporated, open-ended real estate investment trust established and governed by the laws of the Province of Ontario. The REIT owns a portfolio of garden-style multi-residential properties, primarily located in three markets across the Sunbelt and Midwest regions of the United States. For more information, please visit www.dreamresidentialreit.ca.

Non-GAAP financial measures, ratios and supplementary financial measures

The REIT’s condensed consolidated financial statements are prepared in accordance with IFRS Accounting Standards as issued by the International Accounting Standards Board (“IFRS Accounting Standards”). In this press release, as a complement to results provided in accordance with IFRS, the REIT discloses and discusses certain non-GAAP financial measures and ratios, including FFO, diluted FFO per Unit, comparative properties NOI, comparative investment properties revenue, NOI, comparative properties NOI margin, net total debt-to-net total assets ratio, net total debt, net total assets, adjusted earnings before interest, taxes, depreciation, amortization and fair value adjustments (“Adjusted EBITDAFV”), trailing 12-month adjusted EBITDAFV, trailing 12-month interest expense on debt, interest coverage ratio (times), available liquidity, total equity (including Class B Units) and NAV per Unit as well as other measures discussed elsewhere in this press release. These non-GAAP financial measures and ratios are not defined by or recognized under IFRS Accounting Standards and do not have a standardized meaning under IFRS Accounting Standards. The REIT’s method of calculating these non-GAAP financial measures and ratios may differ from other issuers and may not be comparable with similar measures presented by other issuers. The REIT has presented such non-GAAP financial measures and ratios as management believes they are relevant measures of the REIT’s underlying operating and financial performance. Certain additional disclosures such as the composition, usefulness and changes, as applicable, of the non-GAAP financial measures and ratios included in this press release are expressly incorporated by reference from Management’s Discussion and Analysis of the financial condition and results of operations of the REIT as at and for the three and six months ended June 30, 2025, dated August 6, 2025 (the “Q2 2025 MD&A”) and can be found under the section “Non-GAAP Financial Measures and Ratios” and respective sub-headings labelled “FFO and diluted FFO per Unit”, “NAV per Unit”, “Comparative properties NOI and comparative properties NOI margin”, “Adjusted earnings before interest, taxes, depreciation, amortization and fair value adjustments (Adjusted EBITDAFV)”, “Trailing 12-month adjusted EBITDAFV”, “Trailing 12-month interest expense on debt”, “Available liquidity”, “Total equity (including Class B Units)”, “Interest coverage ratio (times)” and “Net total debt-to-net total assets”. In this press release, the REIT also discloses and discusses certain supplementary financial measures, including tenant retention ratio and weighted average number of Units. The composition of supplementary financial measures included in this press release is expressly incorporated by reference from the Q2 2025 MD&A and can be found in the section “Supplementary Financial Measures and Other Disclosures”. The Q2 2025 MD&A is available on SEDAR+ at www.sedarplus.com under the REIT’s profile and on the REIT’s website at www.dreamresidentialreit.ca under the Investors section. Non-GAAP financial measures and ratios should not be considered as alternatives to net income, net rental income, investment properties revenue, cash flows generated from (utilized in) operating activities, cash and cash equivalents, total assets, non-current debt, total equity, or comparable metrics determined in accordance with IFRS Accounting Standards as indicators of the REIT’s performance, liquidity, cash flow and profitability.

Forward-looking information

This press release may contain forward-looking information within the meaning of applicable securities legislation. Such information includes statements regarding future market conditions; our expectations regarding our Strategic Review process and the results thereof, including our ability to pursue strategic alternatives; that the Strategic Review will result in any transaction or initiative and our expectations regarding timing, structure, costs, terms and outcome thereof, including on the financial condition, liquidity and results of operations of the REIT; that we will continue to make incremental gains by growing rents and net operating income; our ability to operate the portfolio with a focus on prudent capital allocation, operational efficiency and maintain a conservative balance sheet; our ability to complete suites under renovation including in the Greater Cincinnati region; and our expectations regarding leasing momentum and expected results thereof. Forward-looking information generally can be identified by the use of forward-looking terminology such as “will”, “expect”, “believe”, “plan” or “continue”, or similar expressions suggesting future outcomes or events. Forward-looking information is based on a number of assumptions and is subject to a number of risks and uncertainties, many of which are beyond Dream Residential REIT’s control and could cause actual results to differ materially from those that are disclosed in or implied by such forward-looking information. These risks and uncertainties include, but are not limited to, risks inherent in the real estate industry; financing risks; inflation, interest and currency rate fluctuations; global and local economic and business conditions; risks associated with unexpected or ongoing geopolitical events; changes in law; tax risks; competition; environmental and climate change risks; insurance risks; cyber security; risks related to the imposition of duties, tariffs and other trade restrictions and their impacts; and uncertainties surrounding public health crises and epidemics. Our objectives and forward-looking statements are based on certain assumptions, including that the general economy remains stable; that there are no unforeseen changes in the legislative and operating framework for our business; that we will have access to adequate capital to fund our future projects and plans and that we will receive financing on acceptable terms; that inflation and interest rates will not materially increase beyond current market expectations; that future market and economic conditions will occur as expected; and that geopolitical events, including disputes between nations or the imposition of duties, tariffs, quotas, embargoes or other trade restrictions (including any retaliation to such measures), will not disrupt global economies. All forward-looking information in this press release speaks as of the date of this press release. Dream Residential REIT does not undertake to update any such forward-looking information whether as a result of new information, future events or otherwise, except as required by law. Additional information about these assumptions, risks and uncertainties is contained in Dream Residential REIT’s filings with securities regulators, including its latest Annual Information Form and Management’s Discussion and Analysis. These filings are also available on the REIT’s website at www.dreamresidentialreit.ca.

FOOTNOTES
(1)		FFO is a non-GAAP financial measure. The most directly comparable financial measure to FFO is net income. For further information on this non-GAAP measure, please refer to the statements under the heading “Non-GAAP financial measures, ratios and supplementary financial measures” in this press release. The table included in the Appendices section of this press release reconciles FFO for the three and six months ended June 30, 2025 and June 30, 2024 to net income.
(2)		Diluted FFO per Unit is a non-GAAP ratio. Diluted FFO per Unit comprises FFO (a non-GAAP financial measure) divided by the weighted average number of Units. For further information on this non-GAAP ratio, please refer to the statements under the heading “Non-GAAP financial measures, ratios and supplementary financial measures” in this press release.
(3)		A description of the determination of diluted amounts per Unit can be found in the REIT’s Q2 2025 MD&A in the section “Supplementary Financial Measures and Other Disclosures”, under the heading “Weighted average number of Units”.
(4)		Net total debt-to-net total assets is a non-GAAP ratio. Net total debt-to-net total assets comprises net total debt (a non-GAAP financial measure) divided by net total assets (a non-GAAP financial measure). The most directly comparable financial measure to net total debt is non-current debt, and the most directly comparable financial measure to net total assets is total assets. For further information on this non-GAAP ratio and these non-GAAP financial measures, please refer to the statements under the heading “Non-GAAP financial measures, ratios and supplementary financial measures” in this press release.
(5)		Interest coverage ratio (times) is a non-GAAP ratio. Interest coverage ratio comprises trailing 12-month adjusted EBITDAFV (a non-GAAP financial measure) divided by trailing 12-month interest expense on debt (a non-GAAP financial measure). The most directly comparable financial measure to adjusted EBITDAFV is net income (loss). The table included in the Appendices section of this press release reconciles adjusted EBITDAFV to net income (loss) and trailing 12-month adjusted EBITDAFV and trailing 12-month interest expense on debt to adjusted EBITDAFV and interest expense on debt, respectively, for the trailing 12-month period ended June 30, 2025. For further information on this non-GAAP ratio and non-GAAP financial measure, please refer to the statements under the heading “Non-GAAP financial measures, ratios and supplementary financial measures” in this press release.
(6)		Available liquidity is a non-GAAP financial measure. The most directly comparable financial measure to available liquidity is cash and cash equivalents. The table included in the Appendices section of this press release reconciles available liquidity to cash and cash equivalents as at June 30, 2025 and December 31, 2024. For further information on this non-GAAP financial measure, please refer to the statements under the heading “Non-GAAP financial measures, ratios and supplementary financial measures” in this press release.
(7)		Total equity (including Class B Units) is a non-GAAP financial measure. The most directly comparable financial measure to total equity (including Class B Units) is total equity. For further information on this non-GAAP financial measure, please refer to the statements under the heading “Non-GAAP financial measures, ratios and supplementary financial measures” in this press release. The table included in the Appendices section of this press release reconciles total equity (including Class B Units) to total equity (per the condensed consolidated financial statements) as at June 30, 2025 and December 31, 2024.
(8)		Total number of Units includes 16,004,408 Trust Units and 3,692,084 Class B Units, which are classified as a liability under IFRS Accounting Standards.
(9)		NAV per Unit is a non-GAAP ratio. NAV per Unit comprises total equity (including Class B Units) (a non-GAAP financial measure) divided by the total number of Units. For further information on this non-GAAP ratio, please refer to the statements under the heading “Non-GAAP financial measures, ratios and supplementary financial measures” in this press release.
(10)		Comparative properties NOI is a non-GAAP financial measure. The most directly comparable financial measure to comparative properties NOI is net rental income. The table included in the Appendices section of this press release reconciles comparative properties NOI for the three and six months ended June 30, 2025 and June 30, 2024 to net rental income. For further information on this non-GAAP financial measure, please refer to the statements under the heading “Non-GAAP financial measures, ratios and supplementary financial measures” in this press release.
(11)		Comparative properties NOI margin is a non-GAAP ratio. Comparative properties NOI margin is defined as comparative properties NOI (a non-GAAP financial measure) divided by comparative investment properties revenue, as a percentage. For further information on this non-GAAP ratio, please refer to the statements under the heading “Non-GAAP financial measures, ratios and supplementary financial measures” in this press release.
(12)		Tenant retention ratio is defined as the number of renewed leases divided by the total number of leases signed during the period. Tenant retention ratio is a supplementary financial measure.

Contacts

For further information, please contact:

Dream Residential REIT


Brian Pauls
Chief Executive Officer

(416) 365-2365

bpauls@dream.ca

Derrick Lau
Chief Financial Officer

(416) 365-2364

dlau@dream.ca

Scott Schoeman
Chief Operating Officer

(303) 519-3020

sschoeman@dream.ca

Read full story here

NORTH ANDOVER, Mass.–(BUSINESS WIRE)–Watts Water Technologies, Inc. (NYSE: WTS) today declared that the Corporation will pay a quarterly dividend of fifty-two cents ($0.52) per share on each outstanding share of the Company’s Class A Common Stock and Class B Common Stock, said dividend to be paid on September 15, 2025 to stockholders of record at the close of business on August 29, 2025.

Watts Water Technologies, Inc., through its family of companies, is a global manufacturer headquartered in the USA that provides one of the broadest plumbing, heating, and water quality product lines in the world. Watts Water companies and brands offer innovative plumbing, heating, and water quality solutions to control the efficiency, safety, and quality of water within commercial, residential, and industrial applications. For more information visit www.watts.com.

Contacts

Watts Water Technologies, Inc.
Diane McClintock

Senior Vice President FP&A and Investor Relations

Telephone: 978-689-6153

Email: investorrelations@wattswater.com

HOUSTON–(BUSINESS WIRE)–#dxpe—DXP Enterprises, Inc. (the “Company”) (NASDAQ: DXPE), a leading business to business products and service distributor that adds value and total cost savings solutions to MRO and OEM customers in virtually every industry, plans to issue a press release announcing its financial results for the quarter ended June 30, 2025, on Wednesday, August 6^th. The earnings announcement will be released after the market closes. DXP will host a conference call, to be webcast live, on the Company’s website (www.dxpe.com) at 10:30 AM Central Time on Thursday, August 7^th.

The call and an accompanying slide presentation will be on the “Investor Relations” section of DXP’s website at www.dxpe.com. A replay of the webcast will be available shortly after the conclusion of the presentation.

DXP’s earnings press release, slides and other related presentation materials will be posted to the “Investor Relations” section of DXP’s website under the subheading “Financial Information” after the market closes on the date of the earnings call and will remain available following the call.

Web participants are encouraged to go to the Company’s website (www.dxpe.com) at least 15 minutes prior to the start of the call to register, download and install any necessary audio software.

The Private Securities Litigation Reform Act of 1995 provides a “safe-harbor” for forward-looking statements. Certain information included in this press release (as well as information included in oral statements or other written statements made by or to be made by the Company) contains statements that are forward-looking. Such forward-looking information involves important risks and uncertainties that could significantly affect anticipated results in the future; and accordingly, such results may differ from those expressed in any forward-looking statement made by or on behalf of the Company. These risks and uncertainties include, but are not limited to; ability to obtain needed capital, dependence on existing management, leverage and debt service, domestic or global economic conditions, and changes in customer preferences and attitudes. For more information, review the Company’s filings with the Securities and Exchange Commission.

Contacts

DXP Enterprises, Inc.

Kent Yee, 713-996-4700

Senior Vice President, CFO

www.dxpe.com

WAUCONDA, Ill.–(BUSINESS WIRE)–#ET27–The ET Foundation and the Aluminum Extruders Council (AEC) have announced the Call for Abstracts for ET ’27, the Fourteenth International Aluminum Extrusion Technology Seminar and Exposition. Scheduled for April 26–30, 2027, ET ‘27 will be held at the Rosen Shingle Creek Resort in Orlando, Florida, with the core technical and exposition events taking place April 27–29.

ET ’27 invites professionals from across the global aluminum extrusion industry—including manufacturers, end users, engineers, and designers—to submit abstracts for technical papers via the ET ’27 Abstract Submissions Portal at ETPapers.org (also linked at ET27.us). The deadline for abstract submissions is February 26, 2026.

Presentations at ET ’27 will focus on all aspects of aluminum extrusion, including innovations in process, equipment, applications, design, sustainability, and R&D. Technical papers will be organized into seven tracks:

• Alloys & Billet Process
• Extrusion Design & Innovation*
• Extrusion Equipment
• Extrusion & Die Process
• Extrusion & Die R&D
• Sustainability & Management
• Extrusion Finishes & Fabrication

*The Extrusion Design & Innovation track welcomes papers with a practical focus, and formal references are optional.

Abstracts and papers will be evaluated by the ET Seminar Committee—comprised of industry and academic professionals—according to relevance, usefulness, practical application, international appeal, and clarity. Content must be noncommercial.

Selected authors will be invited to submit full technical papers for inclusion in The Proceedings of the Fourteenth International Aluminum Extrusion Technology Seminar – ET ’27, which will be distributed to all registered delegates.

ET is the aluminum extrusion industry’s longest-running educational event, offering in-depth technical sessions, an expansive exposition, and numerous learning and networking opportunities. Final paper acceptance and presentation remain subject to committee review following abstract approval.

For full details and submission guidelines, visit www.ET27.us or ETPapers.org.

Contacts

Nancy Molenda

VP of Communication

nmolenda@tso.net
847.416.7227

VANCOUVER, British Columbia–(BUSINESS WIRE)–QuadReal Property Group (“QuadReal”), a global real estate investment, development and operating company, has acquired an eight-asset, 3,460 bed purpose-built student accommodation (PBSA) portfolio from Apollo-managed funds and entities.

The high-quality portfolio is comprised of assets located in key PBSA markets across the UK, including London, with 75% of the portfolio situated within proximity of prestigious Russell Group universities. All the buildings were developed within the last five to seven years to a high specification, and are well amenitised with gyms, co-working spaces, audio-visual rooms, common areas, and event spaces.

Residential is an area of high conviction for QuadReal. PBSA specifically is a resilient and a counter-cyclical asset class that offers stable income, structural demand, and long-term growth potential. With persistent undersupply in key university cities, growing international and domestic student populations, and a shift towards higher-quality, professionally managed accommodation, PBSA provides both defensive characteristics and attractive risk-adjusted returns.

The UK PBSA sector is expected to outperform other asset classes over the next few years on the back of resilient market fundamentals. The country has the largest student population in Europe, as well as the highest share of international students, with overall full-time student numbers continuing to rise. The UK market is structurally undersupplied, with an estimated shortfall of 840,000 units expected by 2027.

QuadReal has significant experience in the residential and student accommodation sectors. Its global portfolio includes over 65,000 residential units and 28,000 student beds, predominantly in North America and Australia. In the UK, QuadReal has over 8,500 residential units and 1,000 student beds across 29 communities and has delivered more than 1,300 units in 2024 alone, in part via its partnership with Realstar.

The asset manager for this portfolio of PBSA is OPRE Solutions.

Jay Kwan, Managing Director, Europe, at QuadReal said: “Across our global portfolio, we are highly selective about the assets we acquire, and target markets with strong fundamentals and significant demand drivers. With resilient demand, structural undersupply, and a large cohort of international students, we have been actively looking to grow our PBSA exposure in the UK and this is an opportunity to expand our student housing platform.”

Kristian Branum-Burns, Senior Vice President, Europe, International Real Estate, at QuadReal said: “This transaction is fully aligned with our fundamentals-driven residential strategy in Europe, and student accommodation is a crucial sector for us. These are high quality, amenity-rich assets servicing in-demand universities across the country, and the portfolio is well placed to deliver sustained rental growth over the coming years.”

About QuadReal Property Group

QuadReal Property Group is a global real estate investment, development and operating company headquartered in Vancouver, British Columbia. Its assets under management are $94 billion. From its foundation in Canada as a full-service real estate operating company, QuadReal has expanded its capabilities to invest in equity and debt in both the public and private markets. QuadReal invests directly, via programmatic partnerships and through operating platforms in which it holds an ownership interest.

QuadReal seeks to deliver strong investment returns while creating sustainable environments that bring value to the people and communities it serves. Now and for generations to come.

QuadReal: Excellence lives here.

Contacts

FTI Consulting (QuadReal)

Giles Barrie, Bryn Woodward

0779 892 6814 / 07929 383297

Quadreal@fticonsulting.com

Acquisition of business assets of leader in granular pigment manufacturing for all segments of the concrete market including ready mix, stamped concrete, block, pavers, and precast will further strengthen Saint-Gobain’s Construction Chemicals activities in Canada and the United States

PARIS–(BUSINESS WIRE)–Saint-Gobain Group has acquired the business assets of Interstar Materials Inc. (Interstar), further strengthening its expansion in North America’s Construction Chemicals sector. Today’s acquisition of Interstar’s business assets and team into the organization will further strengthen Saint-Gobain’s position in the construction chemicals market and will mark the company’s entrance into granular pigments for concrete. This acquisition follows recent action by the company in the construction chemicals sector in the United States and Canada, including the acquisitions of Chryso in 2021 and GCP Applied Technologies in 2022.

With over 30 years of manufacturing experience, Interstar has been a leading North American manufacturer of products for the growing decorative concrete industry, allowing for the creation of concrete that is both functional and aesthetically pleasing. Interstar offers a full portfolio of solutions for all segments of the concrete market including ready mix, stamped concrete, block, pavers, and precast.

With this latest acquisition, Saint-Gobain will add over C$20 million to its revenue and establish a strong presence in the granular pigments industry in North America. The business will continue to operate from its headquarters in Sherbrooke, Quebec, as well as at additional facilities in Calgary, Alberta, and Junction City, Illinois. Saint-Gobain will also welcome 55 new employees, whose expertise will enhance the capabilities of its Construction Chemicals business.

“With this acquisition, we are continuing to strengthen our leadership in the Construction Chemicals segment,” said Mark Rayfield, President and CEO of Saint-Gobain North America. “Interstar Materials, Inc. is an ideal partner for Saint-Gobain, sharing our commitment to innovation and sustainable construction. I am excited to collaborate with the Interstar team and welcome their employees into our business. Together, we will continue to drive progress toward our mission of ‘Making the World a Better Home.’”

“This acquisition is a testament to our unwavering commitment to continually enhance our best-in-class product and service offerings, ensuring we meet and exceed our customers’ expectations,” said Steven Williams, President, Construction Chemicals, Infrastructure, and Commercial North America.

“The Interstar team and I are thrilled to join Saint-Gobain’s Construction Chemical’s business and work with the Chryso team,” said Zachary Gillman, President of Interstar Materials, Inc. “From the outset of the acquisition process, it was clear that our companies share common values — a commitment to quality, integrity, innovation, and growth. I am especially excited about the opportunities this partnership will create for Interstar employees as part of the Saint-Gobain Group.”

Saint-Gobain will continue to operate the granular pigment and dispenser business under the Interstar brand within US and Canada.

Today’s announcement follows several other recent growth investments announced by Saint-Gobain:

• In February, Saint-Gobain announced the expansion of its NorPro Ceramics business with a new facility in Niagara County, New York.
• First announced in 2023, Saint-Gobain will complete several expansions at plant facilities later this year to increase production capacity and further meet demand in the United States, including in roofing at its facility in Peachtree City, Georgia, gypsum wallboard in Palatka, Florida and glass mat in Oxford, North Carolina.
• Later this year, Saint-Gobain and CertainTeed Canada will complete an announced investment to upgrade equipment at its gypsum facility outside Montreal, which will increase the plant’s production capacity by up to 40%. The plant will also be powered solely by renewable electricity from Hydro-Quebec, making it the first zero-carbon wallboard plant in North America for scope 1 and 2 emissions.

With over 160 manufacturing locations in Canada and the United States, every current and future member of the company’s team plays a vital role in achieving its sustainability goals. A current list of job openings at all Saint-Gobain locations can be found on the company’s careers website.

About Saint-Gobain

Worldwide leader in light and sustainable construction, Saint-Gobain designs, manufactures and distributes materials and services for the construction and industrial markets. Its integrated solutions for the renovation of public and private buildings, light construction and the decarbonization of construction and industry are developed through a continuous innovation process and provide sustainability and performance. The Group, celebrating its 360th anniversary in 2025, remains more committed than ever to its purpose “MAKING THE WORLD A BETTER HOME”.

€46.6 billion in sales in 2024

166,000 employees, locations in 80 countries

Committed to achieving net zero carbon emissions by 2050

About Interstar Materials, Inc.

For over thirty years, Interstar has been a leader in the pigment industry — renowned for their innovation, quality, and responsive, flexible customer service in all sectors of the concrete industry. Interstar’s propriety Granastar^® granular pigment has revolutionized the ready mix industry, making it easier and more efficient to color ready mix concrete with their pigment and automated dispensing systems.

Contacts

Media Contacts

Peter Clark

Saint-Gobain Corporate Communications

media@saint-gobain.com