Operator

Good morning, ladies and gentlemen, and welcome to Automotive Property REIT's 2026 First Quarter Results Conference Call and Webcast. [Operator Instructions].

Please be aware that certain information discussed today may be forward-looking in nature. Such forward-looking information reflects the REIT's current views with respect to future events. Any such information is subject to risks, uncertainties and assumptions that could cause actual results to differ materially from those projected in the forward-looking information. For more information on the risks, uncertainties and assumptions relating to forward-looking information, please refer to the REIT's latest MD&A and annual information form, which are available on SEDAR+.

Management may also refer to certain non-IFRS financial measures. Although the REIT believes these measures provide useful supplemental information about financial performance, they are not recognized measures and do not have standardized meanings under IFRS. Please refer to the REIT's latest MD&A for additional information regarding non-IFRS financial measures.

This call is being recorded on May 14, 2026.

I would now like to turn the conference over to Milton Lamb, President and CEO. Please go ahead, Mr. Lamb.

Milton Lamb
President, CEO & Director

That's great. Thank you, Joanne, and good morning, everyone. Thank you for joining us today. With me is Andrew Kalra, our Chief Financial Officer.

Our strong first quarter performance reflects the positive impact of the 13 property acquisitions we