HALIFAX, NS, Aug. 15, 2024 /CNW/ - (TSXV:NXLV) - NexLiving Communities Inc. ("NexLiving" or the "Company") announced operating and financial results for the three-month and six-month periods ended June 30, 2024. Stavro Stathonikos, President & CEO commented: "Strong market fundamentals have contributed to sustained top line growth across our portfolio this year. I am particularly pleased with our team's ability to reduce operating expenses year-over-year, despite facing materially higher property taxes. Our FFO per share increased by +21.3% in the first half of the year, reflecting the progress in driving operational improvements. As we look ahead, our focus remains on completing the transformational Devcore transaction, which we anticipate to close in the third quarter." Summary of Results: Property revenue increased +3.4% to $4.9 million for the three-month period and +9.7% to $9.8 million for the six-month period ended June 30, 2024. Net operating income ("NOI") increased +5.0% to $3.0 million (61.2% margin) for the three-month period and +13.3% to $5.9 million (59.8% margin) for the six-month ended June 30, 2024. FFO per share increased +8.8% for the three-month period and +21.3% for the six-month period ended June 30, 2024, on a fully diluted basis. Same property NOI for the three-month period increased +5.5% as revenue grew by +3.6% and same property expenses increased by 0.7%. The increase in same property operating expenses was primarily due to higher property taxes in New Brunswick, partially offset by lower maintenance and insurance costs. Same property NOI for the six-month period increased +8.1% as revenue grew by +4.7% and same property expenses were stable. Q2 2024 Operating and Financial Highlights: As at 30-juin-24 31-déc-23 Change Number of suites 1 039 1 166 (127) Occupancy 95,0 % 96,8 % (180) bps Net Debt to GBV* 66,3 % 68,6 % (227) bps Weighted average term to debt maturity (years)   5,3 4,6 0,7 yrs Weighted average contractual interest rate 3,81 % 3,71 % 10 bps Net asset value  76 840 666 74 633 442 3,0 % Net asset value per share $                4,61 $                4,49 2,6 % For the three months ended June 30, 2024 2023 Change NOI 2 980 777