- Nexus Industrial REIT (NXR.UN) has completed a public offering of trust units of the REIT for gross proceeds of approximately $81 million
- A total of 8,225,000 units were issued to a syndicate of underwriters led by BMO Capital Markets at a price of $10.30 per unit
- Net proceeds will be used to fund the acquisition of two new-build institutional-quality single-tenant industrial distribution properties currently under contract
- Nexus is a real estate investment trust focused on the acquisition, ownership and management of industrial, office and retail properties
- Nexus Industrial REIT (NXR.UN) opened trading at C$10.09
Nexus Industrial REIT (NXR.UN) has completed a public offering of trust units of the REIT for gross proceeds of approximately $81 million.
A total of 8,225,000 units were issued to a syndicate of underwriters led by BMO Capital Markets at a price of $10.30 per unit. Under the over-allotment option, the underwriters purchased an additional 925,000 units.
Net proceeds will be used to fund the acquisition of two new-build institutional-quality single-tenant industrial distribution properties currently under contract. The properties are located in the Greater Toronto Area and Greater Montreal Area and are currently under construction. The properties are estimated to be completed in the first half of 2023 upon rent commencement at each property.
Nexus is a growth-oriented real estate investment trust focused on the acquisition, ownership and management of industrial, office and retail properties located in primary and secondary markets in North America. The REIT currently owns a portfolio of 113 properties totalling approximately 11.1 million square feet of gross leasable area.
Nexus Industrial REIT (NXR.UN) opened trading at C$10.09.