WINNIPEG, MB, May 23, 2024 /CNW/ - Lanesborough Real Estate Investment Trust ("LREIT") (TSXV:LRT) today reported its operating results for the quarter ended March 31, 2024. The following comments in regard to the financial position and operating results of LREIT should be read in conjunction with interim management's discussion & analysis – quarterly highlights and the interim financial statements for the quarter ended March 31, 2024, which may be obtained from the SEDAR+ website at www.sedarplus.ca. ANALYSIS OF OPERATING RESULTS Analysis of Income (Loss) and Comprehensive Income (Loss) Three Months Ended March 31 Increase (Decrease) in Income 2024 2023 Amount % Rentals from investment properties $ 2,685,698 $ 3,481,753 $ (796,055) (23) % Rental loss insurance proceeds (reversal of proceeds) - (65,012) 65,012 100 % Property operating costs (1,884,197) (2,799,329) 915,132 33 % Net operating income (NOI) 801,501 617,412 184,089 30 % Interest income 31,844 21,654 10,190 47 %