GO Residential Real Estate Investment Trust (GO.U) Q2 2026 earnings summary

Executive summary

• Announced a transformative transaction to acquire 25 Class A residential buildings, expanding to 35 properties and nearly 13,300 suites across eight markets and four states, with an enterprise value of CAD 7.8 billion, making it the second largest residential REIT in Canada and seventh in the U.S.

• Focuses on luxury high-rise multifamily properties in the New York metropolitan area, with a portfolio of 7 buildings and 2,545 suites valued at ~$3.1B as of June 30, 2026.

• Investment strategy centers on stable returns, long-term growth, and accretive acquisitions in major U.S. cities.

• Leadership team is experienced, with a strong track record in real estate and capital markets.

• Delivered strong Q2 2026 results, exceeding pro forma forecasts across all key metrics, driven by high occupancy, robust rent growth, and disciplined execution in the Manhattan portfolio.

Financial highlights

• Revenue adjusted for Q2 2026 was $47.7 million, 6.8% ahead of forecast; same-property revenue adjusted was $44.8 million, slightly above forecast.

• NOI adjusted was $35 million, $2.8 million ahead of forecast, with a margin of 73.4% (up from 72.8% in Q1 and 72.5% in Q4 2025).

• FFO adjusted was $16 million ($0.26/unit), $1.9 million ahead of forecast; AFFO adjusted was $14.7 million ($0.23/unit), $1.1 million ahead of forecast.

• Net income and comprehensive income for Q2 was $7.6 million.

• Committed occupancy at quarter end was 99.6%, with in-place occupancy at 95.8%.

Outlook and guidance

• Transaction expected to deliver low to mid-single digit accretion on FFO and AFFO.

• Debt to EBITDA projected to be more than two times lower post-transaction, with further improvement expected.

• $51 million of guaranteed AFFO over two years via income support to bridge to asset stabilization.

• $15 million in expected synergies within 12-18 months post-close.

• Management expects continued strong operating performance, supported by record pricing, low inventory, and sub-2% vacancy in core markets.