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Consolidated Combined Statements of Net Income - CAD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Profit or loss [abstract]    
Rental revenue $ 568,643 $ 521,250
Lease termination and close-out fees 496 0
Revenue 569,139 521,250
Property operating costs 97,153 86,012
Net operating income 471,986 435,238
General and administrative expenses 38,909 41,440
Depreciation and amortization 1,289 1,272
Interest income (7,073) (7,708)
Interest expense and other financing costs 89,898 78,717
Foreign exchange losses, net 14,410 1,033
Fair value (gains) losses on investment properties, net (53,037) 172,676
Fair value (gains) losses on financial instruments, net (5,166) 17,296
Loss on sale of investment properties 0 1,505
Income before income taxes 392,756 129,007
Income tax expense (recovery) 30,874 (9,489)
Net income 361,882 138,496
Net income attributable to:    
Unitholders 360,609 136,662
Non-controlling interests 1,273 1,834
Net income $ 361,882 $ 138,496