Boardwalk Real Estate Investment Trust

Good afternoon, ladies and gentlemen, and welcome to the BoardWalk Real Estate Investment Trust third quarter 2025 earnings conference call. At this time, all lines are in a listen-only mode. Following the presentation, we will conduct a question and answer session. If at any time during this call you require needed assistance, please press star zero for the operator. This call is being recorded on Wednesday, November 5th, 2025. I would now like to turn the conference over to Eric Bowers, Vice President of Investor Relations. Please go ahead.

Thank you, Joelle, and welcome to the BoardWalk REIT 2025 Third Quarter Results Conference Call. With me here today are Sam Collius, Chief Executive Officer, James Ha, President, Greg Tinling, our Chief Financial Officer, Samantha Collius-Gunn, Senior VP of Corporate Development and Governance, and Samantha Adams, Senior VP of Investments. We would like to acknowledge on behalf of BoardWalk the treaties and traditional territories across our operations and express gratitude and respect for the land we are gathered on today and we now know as Canada. We respect Indigenous peoples and communities as the original stewards of this land. We come with respect for this land that we are on today for all the people who have and continue to reside here and the rich diversity of First Nation, Inuit and Métis peoples. Before we get to our results, please note that this call is being broadly distributed by way of webcast. If you have not already done so, please visit bwalk.com slash investors, where you will find the link to today's presentation, as well as PDF files of the trust's financial statements, MD&A, and quarterly report. Starting on slide two, we would like to remind our listeners that certain statements in this call and presentation may be considered forward-looking statements. Although the expectations set forth in such statements are based on reasonable assumptions, BoardWalk's future operation and its actual performance may defer materially from those in any forward-looking statements. Additional information that could cause actual results to defer materially from these statements are detailed in BoardWalk's publicly filed documents. I would like to now turn the call over to Sam Collius.

Thank you, Eric. Starting on slide four, affordable multifamily communities have always been an essential product and service. Together with our resident members, our associates, investors, partners, capital, environment, community are all essential and interconnected with our BoardWalk family forever at our core, with our true north where love always lives. A key word in community is is unity as reflected in our diagram. Together, we go far. Welcome, everyone, to our BoardWalk family forever and to our Q3 2025 results. Next slide, our culture. From our humble beginnings, our resident members remain at the top of our organization. Our leaders put our team first, and our team puts a resonant Members, first, guided by the golden rule, we have a peak-performing customer service culture that creates exceptional results, as we can see on our next slide, six. Our continued impressive performance with gaps and non-gap measures increasing from the same quarter last year, same property rental revenues increased 5.1%, and same property net operating income increased 8.6%. Our operating margin increased by 220 basis points as well as our funds from operation per unit increasing by 10.8%. I would like to now pass it over to Samantha Collius-Gunn.