# Northview Residential REIT Reports 19.6% FFO Per Unit Growth on Same Door NOI and Interest Savings

> Northview Residential REIT lifted FFO per unit 19.6% to $0.61 in Q3 2026 as same door NOI rose 4.2% and a credit facility renewal cut its rate spread by 70 basis points.

- Published: 2026-11-12T22:44:01+00:00
- Section: Earnings & Results
- Author: News Desk
- URL: https://newsforagent.com/news/2026-11-12/northview-residential-reit-q3-ffo-growth
- Source: [GlobeNewswire](https://www.globenewswire.com/news-release/2026/11/12/3402296/0/en/northview-residential-reit-reports-q3-2026-financial-results-with-ffo-per-unit-growth-of-20-driven-by-same-door-noi-growth-and-interest-savings.html)

## Key takeaways

- Northview Residential REIT's FFO per unit excluding insurance proceeds rose 19.6% to $0.61 in Q3 2026.
- Same door NOI grew 4.2% while average monthly rent increased 3.6% to $1,557.
- Northview cut its syndicated facility commitment to $200 million from $265 million and extended maturity to December 31, 2028.

Northview Residential REIT reported funds from operations per unit, excluding insurance proceeds, of $0.61 for the third quarter of 2026, up 19.6% from $0.51 a year earlier, the Calgary-based owner of rental properties in secondary Canadian markets said in its [GlobeNewswire](https://www.globenewswire.com/news-release/2026/11/12/3402296/0/en/northview-residential-reit-reports-q3-2026-financial-results-with-ffo-per-unit-growth-of-20-driven-by-same-door-noi-growth-and-interest-savings.html) release on November 12, 2026.

## Northview's Same Door NOI and Rent Gains

Same door net operating income rose 4.2% in the quarter, which Northview attributed to higher average monthly rent and disciplined operating expense management that partly offset higher fuel oil prices and property taxes. Average monthly rent increased 3.6% to $1,557 from $1,503 in the third quarter of 2025, while same door multi-residential occupancy slipped 70 basis points to 95.4%.

Including $3.5 million of insurance proceeds, or $0.10 per basic unit, FFO per basic unit was $0.71, compared with $0.52 a year earlier. The FFO payout ratio excluding insurance proceeds improved 820 basis points to 44.9%.

Commercial occupancy improved 190 basis points year over year. As of September 30, 2026, Northview had leased 54,200 sq. Ft. Of previously vacant space, renewed 144,500 sq. Ft. On fixed terms and converted 48,300 sq. Ft. Of month-to-month leases into fixed-term leases.

"Northview delivered another strong quarter, with FFO growth of 20% supported by lower financing costs, Same door NOI growth and improved commercial occupancy," said Todd Cook, President and Chief Executive Officer.

## Northview's Credit Facility Renewal

On July 14, 2026, Northview completed the refinancing of its syndicated credit facility, reducing the commitment to $200 million from $265 million, cutting the existing rate spread by 70 basis points and extending maturity to December 31, 2028 from December 31, 2026. The REIT also fully repaid its Term facility.

The weighted average credit facilities interest rate fell 112 basis points to 4.55%. The trailing twelve-month debt-to-adjusted EBITDA ratio strengthened to 10.7 times from 11.1 times, and debt-to-gross book value was 62.3% at September 30, 2026, compared with 62.4% at December 31, 2025.

## Northview's Leadership and Distribution History

Northview appointed Sarah Walker as Chief Operating Officer and Laura Ingram as Chief Financial Officer, effective November 2, 2026, [Financial Post](https://www.rentnorthview.com) reported on September 15, 2026. On October 22, 2026, GlobeNewswire reported that Northview declared an October cash distribution of C$0.091146 per unit, payable November 16, 2026 to holders of record October 31, 2026, annualized at C$1.09 per unit.

## How Northview Compares With Real Estate Peers

Capstone Holding Corp. Reported third-quarter 2026 revenue of $20.0 million, up 46% year over year, and cut its full-year 2026 revenue guidance to approximately $70 million from $72.1 million, [Stock Titan](https://www.stocktitan.net/news/CAPS/capstone-reports-q3-2026-results-revenue-up-46-to-20-0-million-gross-3jcr4dwiq6lw.html) reported on November 12, 2026. ADVERO Properties reported a 60% rise in nine-month 2026 net profit to €761,000, [The future of trading](https://capital.com/en-int/news/advero-properties-9m-2026-net-profit-jumps-60-to-eur) reported on October 31, 2026.

## Northview's November Distribution Date

The October distribution of C$0.091146 per unit is scheduled for payment on November 16, 2026.

## Companies in this story

- Northview Residential REIT · website: https://www.rentnorthview.com

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