The King of Prussia-based real estate investment trust attributed the gains to improved property performance and reduced interest expenses. Adjusted net income for the quarter reached $5.2 million, excluding a $724,000 gain from the sale of a land parcel in Chicago. Funds from operations also saw growth, climbing to $12.5 million compared to $11.8 million in the second quarter of last year.
For the first six months of 2026, the company reported a net income of $10.9 million. Beyond its financial results, the trust continues to expand its portfolio, with construction underway on the $34 million Miller Medical Plaza in Palm Beach Gardens, Florida. Management also expanded its borrowing capacity to $475 million in April to support ongoing operations and capital needs.
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