Chartwell Seniors Housing Real Estate Investment Trust (CSH_UN.TO: Quote) reported that its second-quarter Funds from operations were C$29.8 million or C$0.17 per unit compared to C$24.1 million or C$0.17 per unit in the second quarter of 2011. FFO has also been impacted by changes in the amortization of financing costs and the amortization of fair value adjustments on mortgages payable.
Adjusted Funds from operations for the second quarter was C$27.8 million or C$0.16 per unit up from C$21.9 million or C$0.15 per unit in the second quarter of 2011.
Net loss for the quarter widened to C$33.89 million from C$18.85 million in the year ago quarter. The net loss for the latest-quarter was impacted by higher depreciation and amortization charges resulting from acquisitions, acquisition related and convertible debenture issuance costs and changes in fair values of certain financial instruments.
G&A expenses for the latest-quarter increased by C$0.4 million, compared to the same periods of 2011. The increases are primarily due to higher staffing costs to support the significant growth in the portfolio under management.
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by RTT Staff Writer
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