Star Metro - AIP Realty Trust Announces First Quarter 2026 Results

Q1 2026 Highlights

• Between January 1, 2026 and March 31, 2026, Realty USA issued convertible promissory notes ("Notes") with an aggregate principal amount of $1,305,000. The Notes bear interest at a fixed rate of 6% per annum, are unsecured, and mature one year from the issuance date.

Selected Financial Information

The foregoing is a summary of selected information for the three months ended March 31, 2026 and December 31, 2025 and is qualified in its entirety by, and should be read in conjunction with, the Trust's audited consolidated financial statements and management discussion and analysis for the years ended December 31, 2025 and 2024. These documents are available on SEDAR+ at www.sedarplus.com, and on the Trust's website at www.aiprealtytrust.com.

Related party disclosures

The executive management team of the Trust is the same executive management team as AllTrades. There were no cash payments made by the Trust to its executive management team or any trustee during the three months ended March 31, 2026 or 2025. At March 31, 2026 and December 31, 2025, the Trust had recorded $7,296,885 (2025 - $6,840,635) of accrued and unpaid management compensation and $1,156,699 (2025 - $1,096,699) of accrued and unpaid compensation for its trustees.

The accrued and unpaid compensation for management was on a non-cash basis for the initial three years through April 14, 2025, and will only be issued in Units of the Trust, upon written approval from the Board of Trustees. Effective December 31, 2025, the Board of Trustees approved the continuation of the accrual of compensation for management in the form of Units of Trust at the same amount, on a deferred basis, with payment to be made at such time as the Trust is sufficiently funded.

Future Plans and Outlook

As previously disclosed in November 2025, the Board of Trustees continues to explore the execution of its business plan and relationship with AllTrades and anticipates closing the AllTrades Transaction by the end of the third quarter of 2026.

Subsequent Events

From April 1, 2026 to April 17, 2026, Realty USA issued Notes for an additional $50,000 of proceeds. As a result, the outstanding Notes balance is $1,355,000.

Effective May 8, 2026, the Trust refinanced the project debt that had a maturity date of February 9, 2026 with another financial institution for the Eagle Court project. The new loan is for $2,940,110, and the maturity date is November 8, 2027 with an interest rate ceiling of 8.17%. Monthly interest-only payments are required through February 8, 2027. If the outstanding principal balance is not paid in full by February 8, 2027, a principal payment of $25,452 is required. If the outstanding principal balance is not paid by May 8, 2027, a principal payment of $8,750 is required. If the outstanding principal balance is not paid in full by August 8, 2027, a principal payment in the amount of $8,884 is required. See Note 4 - Project Debt. As a component of the project debt refinancing discussed above, Plymouth agreed to exchange its 4,400,000 OP Units acquired through the Plymouth Transaction for a Secured Promissory Note through a Redemption Agreement. As a result of the Redemption Agreement, the Put Option granted to Plymouth was terminated. The new Plymouth Secured Promissory Note is for $2,287,699, accrues interest at 12% annually, and the outstanding principal and all accrued interest is due on the maturity date of September 30, 2027. The Promissory Note is secured by a Junior Deed of Trust behind the $2,940,110 refinanced 1^st deed of trust position discussed above.

About AIP Realty Trust

AIP Realty Trust is an unincorporated, open-ended mutual fund trust with a growing portfolio of AllTrades-branded SIBS light industrial flex facilities focused on small businesses and the trades and services sectors in the U.S. These properties appeal to a diverse range of small space users, such as contractors, skilled trades, suppliers, repair services, last-mile providers, small businesses, and assembly and distribution firms. They typically offer attractive fundamentals, including low tenant turnover, stable cash flow, and low capex intensity, as well as significant growth opportunities. With an initial focus on the Dallas-Fort Worth market, AIP plans to roll out this innovative property offering nationally. AIP holds the exclusive rights to finance the development of and to purchase all the completed and leased properties built across North America by its development and property management partner, AllTrades Industrial Properties, LLC. For more information, please visit www.aiprealtytrust.com.

For further information from the Trust, contact:
Leslie Wulf
Executive Chairman
(214) 679-5263
[email protected]

Or

Greg Vorwaller
Chief Executive Officer
(778) 918-8262
[email protected]

Cautionary Statement on Forward-Looking Information

This press release contains statements which constitute "forward-looking information" within the meaning of applicable securities laws, including statements regarding the plans, intentions, beliefs and current expectations of AIP Realty Trust with respect to future business activities and operating performance. Forward-looking information is often identified by the words "may", "would", "could", "should", "will", "intend", "plan", "anticipate", "believe", "estimate", "expect" or similar expressions and includes information regarding, future acquisitions by the Trust, the ability to obtain regulatory and unitholder approvals and other factors. When or if used in this news release, the words "anticipate", "believe", "estimate", "expect", "target", "plan", "forecast", "may", "schedule" and similar words or expressions identify forward-looking statements or information. These forward-looking statements or information may relate to the commencement of development on certain of the AllTrades facilities proposed financing activity, proposed acquisitions, regulatory or government requirements or approvals, the reliability of third-party information and other factors or information. Such statements represent the Trust's current views with respect to future events and are necessarily based upon a number of assumptions and estimates that, while considered reasonable by the Trust, are inherently subject to significant business, economic, competitive, political and social risks, contingencies and uncertainties. Many factors, both known and unknown, could cause results, performance or achievements to be materially different from the results, performance or achievements that are or may be expressed or implied by such forward- looking statements. These forward-looking statements are made as of the date hereof and are expressly qualified in their entirety by this cautionary statement. The Trust does not intend, and do not assume any obligation, to update these forward-looking statements or information to reflect changes in assumptions or changes in circumstances or any other events affecting such statements and information other than as required by applicable laws, rules and regulations.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

This news release is not an offer of securities for sale in the United States. The securities may not be offered or sold in the United States absent registration or an exemption from registration under U.S. Securities Act of 1933, as amended (the "U.S. Securities Act"). The Trust has not registered and will not register the securities under the U.S. Securities Act. The Trust does not intend to engage in a public offering of their securities in the United States.

SOURCE: AIP Realty Trust

View the original press release on ACCESS Newswire

V.Jackson--SMC