- Nexus REIT (NXR.UN) has completed the $44 million acquisition of two industrial properties in Alberta and Manitoba
- The Calgary property has approximately 165,000 square feet of gross leasable area
- The Headingley Manitoba property has approximately 40,000 square feet of gross leasable area
- Nexus REIT is a growth-oriented real estate investment trust focused on acquiring and managing industrial properties in North America
- Nexus Real Estate Investment Trust (NXR.UN) is trading at C$10.03 per share at 10:45 am ET
Nexus REIT (NXR.UN) has acquired two industrial properties located in Calgary, Alberta and Headingley, Manitoba.
The Calgary property, located at 10774 42 Street SE, has approximately 165,000 square feet of gross leasable area situated on 14 acres of land and also serves as Valard Construction’s head office.
The Headingley Manitoba property, located at 97 Nicola Drive, has approximately 40,000 square feet of gross leasable area situated on 23 acres of land.
The acquisition was financed with a combination of 1,821,925 Class B LP units of a subsidiary limited partnership of the REIT, cash on hand, and cash drawn on a revolving credit facility.
It is anticipated that mortgage financing will be placed on the properties with proceeds used to finance future acquisitions.
Nexus REIT is a growth-oriented real estate investment trust focused on increasing unitholder value through the acquisition of industrial properties and the 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 87 properties comprising approximately 6.3 million square feet of gross leasable area. The REIT has approximately 33,725,000 Units issued and outstanding. Additionally, there are Class B LP Units of subsidiary limited partnerships of Nexus issued and outstanding, which are convertible into approximately 16,482,000 units.
Nexus Real Estate Investment Trust (NXR.UN) is trading at C$10.03 per share at 10:45 am ET.