07:48 AM EDT, 08/20/2025 (MT Newswires) -- Marwest Apartment Real Estate Investment Trust (MAR-UN.V) said overnight Tuesday that it swung to a net loss in the second quarter.

The REIT reported a net loss of $10,826 for the three months ended June 30, reversing the year-ago net income of $2.5 million.

Revenue from investment properties remained steady at $2.6 million while total property operating expenses rose to $1.0 million from $812,508.

Adjusted funds from operations declined to $0.0168 per unit from $0.0203 per unit.

"This quarter we have seen higher turnover than anticipated and a longer re-lease period for our rental inventory," CEO William Martens said. "The increase in vacancy is offset by rental increases providing a modest same period revenue growth of 2.10%."

"We anticipate a stronger occupancy rate for the remainder of the year," Martens added.