The REITs are out with their Q1 reports, offering snapshots of how they did in the first three months of the year. Here’s a look at the quarter that was for five major players.

1. RioCan REIT

Highlight: Funds from operations increased to $138M for Canada's largest REIT, an 8.8% jump compared with Q1 2014.

Assets: The entire RioCan enterprise was worth $16.2B as of Q1 2015, with ownership interests in a portfolio of 353 retail properties (79M SF), including Yonge Eglinton Centre (above), undergoing a $45M revamp.

Big deals: The trust acquired a portfolio of 18 Bank of Montreal locations for $49.4M. It also bought the remaining 50% interest in RioCan Leaside Centre from Kimco Realty Corp for $31.5M.

2. H&R REIT

Highlight: Funds from operations were $139.9M (up from $135M in the same quarter last year) and net income was $94.1M.

Assets: A $13.5B North American portfolio comprising 46M SF of office, retail, industrial and residential properties, including 320 Front St W (above).

Big deals: Sold interests in 16 US properties to CrestPSP for US$150.5M. Leased 231k SF at 320 Front St W to TD Bank for 11 years after Royal Bank of Canada vacated space there; also leased 53.5k SF to Penguin Random House.

3. Dream Office REIT

Highlight: Dream Office had adjusted funds from operations of $68M for the quarter, a $1M increase versus the Q1 2014.

Assets: A $7.2B portfolio of 176 office properties nationwide, with 1.57M SF Scotia Plaza in Toronto (above), representing the crown jewel. Its holdings total 24.2M SF GLA.

Big deal: Despite concerns about Alberta's energy market, leasing velocity in Calgary was "particularly strong" for Dream Office; the REIT achieved 63k SF of renewals, with one tenant re-upping for 56k SF.

4. Allied Properties REIT

Highlight: Funds from operations increased to $39.4M, up 12.6% from $35M in Q1 2014.

Assets: 142 properties across Canada, up 11.2% versus Q1 last year. This includes QRC West at Peter and Richmond streets, which is "on the verge" of full lease-up, the trust said.

Big deal: Allied acquired 19 Duncan St along with Westbank Corp, paying $23.5M for its part. The property, to be redeveloped in JV, will include a new residential component (rendered above).

5. Morguard REIT

Highlight: Morguard had funds from operations of $27.2M in Q1, up $1.2M compared to the same quarter last year.

Assets: Total assets of nearly $3B, including 77 Bloor St, a 20-storey tower at Bay and Bloor streets (seen above) that underwent a multimillion-dollar reno to reduce energy consumption and enhance aesthetics.

Big deals: The trust sold 5591-5631 Finch Ave for $10M; it also closed on the sale of 350 Sparks St and 361 Queen St in Ottawa to Morguard Corp for $37.7M.