Overview
Contrary to its name, Lanesborough REIT (LREIT) doesn't invest in lanes and boroughs. Instead, the real estate investment trust invests in primarily residential properties and other real estate in Canada. It owns some 25 apartment buildings and a handful of commercial and senior housing properties. Many of its residential assets are located in Fort McMurray, Alberta, a boomtown gateway to one of the world's largest proven oil reserves. The REIT
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Read More hasn't been immune to the effects of the overall real estate decline, though. In 2009 it sold more than a dozen properties to raise funds for debt repayments and to shore up working capital. LREIT was established in 2002.
Read Less
Read More hasn't been immune to the effects of the overall real estate decline, though. In 2009 it sold more than a dozen properties to raise funds for debt repayments and to shore up working capital. LREIT was established in 2002.
Read Less
Arni C. Thorsteinson
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Activities Related to Real Estate
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Lessors of Real Estate
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Real Estate
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Real Estate and Rental and Leasing
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Nonresidential building operators
See All Industries , Apartment building operators Realty investment trusts
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See All Industries , Apartment building operators Realty investment trusts
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Actual
$9.60 million
Actual
-26.09%
$87
DEC
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TSX Vent:LRT.UN
Contacts
Get in Touch with 6 Principals* and 6 Contacts
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Arni C. ThorsteinsonPresident
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Financial Statements
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Financial data as of December 31, 2023 (12 month period) in USD
Annual Revenue 2023
$9.60 million
USD
Actual
1 USD = 1.3736 CAD
All financial statement data is in millions except per share data | Source: Morningstar
| Cash Flow (mil) | 2023 | 2022 | 2021 |
|---|---|---|---|
| Net Operating Cash | -$4 | -$2 | $1 |
| Net Investing Cash | -$1 | $7 | -$2 |
| Net Financing Cash | $5 | -$6 | $2 |
| Net Change in Cash | -$0 | -$1 | $1 |
| Cash at Beginning of Period | $1 | $1 | $1 |
| Cash at End of Period | $0 | $1 | $1 |
| Capital Expenditure | -$1 | -$2 | -$2 |
| Assets (mil) | 2023 | 2022 | 2021 |
|---|---|---|---|
| Current Assets | |||
| Cash and Cash Equivalents | $0 | $1 | $1 |
| Accounts Receivable | $0 | $0 | $0 |
| Inventories | $ | $ | $ |
| Other Current Assets | $35 | $37 | $14 |
| Asset Summary | |||
| Total Current Assets | $35 | $37 | $15 |
| Tangible Fixed Assets | $ | $ | $ |
| Intangible Assets | $ | $ | $ |
| Total Assets | $88 | $128 | $129 |
| Liabilities (mil) | 2023 | 2022 | 2021 |
|---|---|---|---|
| Current Liabilities | |||
| Accounts Payable | $5 | $5 | $3 |
| Short-Term Debt | $121 | $131 | $203 |
| Other Current Liabilities | $45 | $20 | $3 |
| Liability Summary | |||
| Total Current Liabilities | $171 | $155 | $209 |
| Long-Term Debt | $6 | $46 | $19 |
| Other Long-Term Liabilities | $ | $ | $ |
| Total Liabilities | $177 | $201 | $228 |
| Stakeholder's Equity (mil) | 2023 | 2022 | 2021 |
|---|---|---|---|
| Equity | |||
| Common Stock | $101 | $101 | $91 |
| Retained Earnings | -$166 | -$160 | -$178 |
| Equity Summary | |||
| Total Equity | -$113 | -$107 | -$134 |
| Shares Outstanding | 680,473,620 | 680,472,620 | 20,557,320 |