03:11 PM EDT, 04/01/2025 (MT Newswires) -- Sun Residential Real Estate Investment Trust (SRES.V) was up more than 60% at last look on Tuesday after moving to sell its stake in its two properties in Florida for a total of US$15.3 million.

Following the completion of the sale transactions, and if approved by unitholders, Sun will be wound-up and terminated. The REIT intends to distribute the net proceeds of the sales and Sun's remaining cash (after payment of all liabilities and obligations) to unitholders.

The trustees of Sun determined that the REIT will face challenges as the conditions in Canada for raising public equity capital remain challenging for small growth-oriented issuers. "Given Sun's small existing asset base and market capitalization, the Board determined that Sun would continue to suffer from diseconomies of scale (the fixed costs of Sun, including, among others, the costs of management, maintaining a listing on the TSX Venture Exchange and complying with disclosure obligations," the statement noted.

Sun was last seen up $0.035, to $0.09, on the TSX Venture Exchange.

Price: 0.09, Change: +0.04, Percent Change: +63.64