Canadian Apartment Properties Real Estate Investment Trust (OTC:CDPYF) Q2 2025 Earnings Conference Call August 8, 2025 9:00 AM ET Company Participants Julian Schonfeldt - Chief Investment Officer Mark Kenney - CEO, President & Trustee Nicole Dolan - Corporate Participant Investor Relations - Corporate Participant Stephen Co - Chief Financial Officer Conference Call Participants Dean Mark Wilkinson - CIBC Capital Markets, Research Division Frederic Blondeau - Green Street Advisors, LLC, Research Division Jonathan Kelcher - TD Cowen, Research Division Khing Shan - RBC Capital Markets, Research Division Kyle Stanley - Desjardins Securities Inc., Research Division Matt Kornack - National Bank Financial, Inc., Research Division Michael Markidis - BMO Capital Markets Equity Research Sairam Srinivas - Cormark Securities Inc., Research Division Operator Hello, everyone, and thank you for joining the Canadian Apartment Properties Second Quarter 2025 Results Conference Call. My name is Lucy, and I'll be coordinating your call today.