
Canadian Net REIT has outperformed its international REIT peers in 2026, driven by a 12% adjusted FFO growth in 2025. This growth was fueled by portfolio expansion, attractive leasing spreads, retained earnings, and locked-in legacy mortgage rates. The leasing market remains favorable in 2026, supporting expectations for mid-to-high single-digit AFFO growth. Despite a high 55% net debt ratio, the REIT's strong operating performance and full occupancy mitigate risks, suggesting attractive returns for unitholders.