Good morning, I'm Bob Wetenhall, Chief Executive Officer of Sun Residential Real Estate Investment Trust. Thank you for joining us for our second quarter earnings conference call. Jeffrey Sherman, our Chief Financial Officer, will start off the presentation, and I'll jump in to provide some commentary. Jeffrey, take it away, please. Okay. Thank you, Bob. With us as well is Farooq Rashid, who's our Controller. I'm the CFO. Let me start off with the usual disclaimer. Certain statements will be made during this call that may be forward-looking statements. Although Sun believes that such statements are based upon reasonable assumptions, actual results may differ materially. Forward-looking statements are based on the beliefs, estimates, and opinions of Sun's management on the date the statements are made. Sun undertakes no obligation to update these forward-looking statements in the event that management's beliefs, estimates, or opinions, or other factors change. We'll also be presenting some non-GAAP financial information. For the full disclaimer related to future-oriented information and non-GAAP financial information, please refer to our regulatory filings, which you can find on our website and also on SEDAR+. We continue to have a 51% interest in the Evergreen Garden Apartments in Tallahassee, Florida. That investment has performed very well. Occupancy at June 30th, 2023, was 95%, up from 89% at December 31st, 2022. Revenue from the property was $1.5 million in the quarter, up 8.9% compared to Q2 last year. All the numbers I present this morning will be in US dollars, unless stated otherwise. In mid-June, we acquired an eight-unit distressed multifamily property in Cape Coral, Florida. Bob will have more to say on that in a few minutes. Our unitholders' equity has been increasing steadily as the property has been increasing steadily in value over the last three years. Unitholders' equity per unit, or NAV per unit, at June 30th, was about $0.109, or a little over CAD 0.145, at current exchange rates. That means we're trading at about a 60% discount to NAV. We announced yesterday that we're continuing our quarterly distribution of CAD 0.098 every quarter, so the next one is payable on September 29th. To put it another way, we're distributing at a rate of CAD 0.0038 per annum, or slightly under CAD 0.004 of a penny per unit. The current yield is 6.3% on our current price. Our intention is to distribute about 90% of our expected AFFO every quarter, and this year our total dividends, as I mentioned, will be a bit under CAD 0.004. At June 30th, 2023, Sun had total assets of $75.9 million, up slightly from the year end, and cash equivalents were $3.7 million. Working capital at June 30th was $4.2 million, up slightly from the year end. GAAP income, Funds from Operations, and Adjusted Funds from Operations have continued to be very strong on every measure. Sorry, on every measure, our Q2 results are higher than Q2 of the prior year, and results for half the year to date are, again, better than results in the previous year. In summary, our property has performed very well since it was acquired three years ago. Expenses at both the property and head office have been very well controlled. Despite challenging markets overall, we continue to be profitable and cash flow positive to support a regular distribution to unitholders. Bob, back to you. Good morning. I'd like to make two key points today. First, Evergreen at Southwood in Tallahassee, Florida, is our largest holding, and this property continues to perform well and in line with our expectations and those of our partner, Westdale. I would add that 1st quarter was okay and 2nd quarter saw improvement over the 1st quarter, so we're making sequential gains in terms of occupancy and NOI. My second point is that during the quarter, we acquired a distressed apartment building located in Cape Coral, Florida. Mobilization to begin renovating the property, which was heavily damaged by Hurricane Ian, has already begun, and we expect that the property will be accretive to earnings when stabilized next year. This acquisition demonstrates our commitment to creating shareholder value by sourcing attractive investment opportunities in the Sun Belt, which tie together and fit well with the mandate of the REIT. We continue to look for other opportunities. We'll update you on the third quarter earnings call regarding progress on the renovation. Thanks for joining us today. We look forward to seeing you on the next earnings call. Have a great day. Are, are there any questions? Sounds quiet out there. Nothing? Crickets. All right, that's it. That's a wrap then. Thank you for joining us today. Once again, we appreciate your time and interest in Sun Residential REIT. We look forward to joining you on the third quarter earnings conference call in October. Have a great day. Bye-bye.
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