OLP: net income $6.2M. OLP pivots to industrial, acquires portfolio, exits retail with in sales

Filed May 6, 2026 · Period ending March 31, 2026 · Compared to 10-Q May 6, 2025 · ~2 min read

Key Changes

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  Acquired 10-property industrial portfolio for $56.7M in January 2026, leased to national tenants (Mondelez, ABC Supply, Bimbo Bakeries), financed with $17M mortgage at 5.53% and $30M credit line draw. Portfolio expected to generate $2.5M rental income over nine months ending Dec 2026.

  MD&A: Acquisitions verify on EDGAR →
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  Sold or contracted to sell four retail properties for combined $35.2M gross proceeds, generating $17M in gains. Includes $17.5M El Paso property (closes June 2026) that will retire $8.3M mortgage. Portfolio now 84.2% industrial by Base Rent vs. 11.3% retail.

  MD&A: Dispositions & Portfolio Mix verify on EDGAR →
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  St. Louis Park, MN retail property 75% vacant after $3.3M impairment. Company pursuing sale and warns of potential additional impairments.

  MD&A: St. Louis Park Impairment verify on EDGAR →