Varia US Properties reports increased losses in H1 2026

Varia US Properties reported a significant net loss of $9.9 million for the first half of 2026, compared to a loss of $2.8 million in the same period last year. The decline was driven primarily by negative property revaluations, which totaled a loss of $5.2 million, and the sale of five properties.

Total rental income fell by 18.8 percent to $41.4 million due to the reduced portfolio size. However, on a ‘like-for-like’ basis, rental income remained stable at $37.6 million. EBITDA decreased by 45.1 percent to $9.8 million, impacted by the smaller portfolio and a cost base maintained for future growth.

As of late June, the company’s portfolio consisted of 17 properties containing 5,273 residential units across eight US states. Despite the losses, management expressed confidence for the second half of the year, noting that operating profit on a comparable basis remained largely unchanged.