Nexus Real Estate Investment Trust Mulls Acquisitions
January 08, 2021 at 02:57 pm
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Nexus Real Estate Investment Trust (TSXV:NXR.UN) is looking for acquisitions. "2021 is looking to be a breakout year for the REIT. We're very excited about announcing these acquisitions and the prospects for the REIT's near-term growth." commented Kelly Hanczyk, the REIT's Chief Executive Officer. "We've been in discussions with the vendors of the London portfolio and building a relationship with them for several years now, culminating in this sizeable off-market deal. The vendors have demonstrated their faith in the REIT, contracting to take back a significant portion of the purchase price in units. We look forward to a continued strong relationship with this vendor which will hopefully lead to additional acquisition opportunities in the future. We are also quite pleased to have completed the acquisition of our 50% interest in a well-tenanted Ajax, Ontario industrial property, which we now co-own with the vendor, who we've also developed an excellent relationship with over the years. We continue to have a strong pipeline of potential acquisitions and expect 2021 will be a solid year of growth for the REIT. We will continue to focus on the acquisition of industrial properties and believe that increasing the industrial weighting of the REIT's portfolio will have a very positive impact on the valuation of the REIT's units. We are also still very much committed to graduating to the TSX, combined with a 4-to-1-unit consolidation, and hope to provide an update on that front very shortly".
Nexus Industrial REIT is a Canada-based open-ended real estate investment trust. The Company and its subsidiaries own and operate commercial real estate properties across Canada. It has a portfolio of industrial, office and retail properties in Canada, with a focus on acquiring and owning industrial properties. The Company owns a portfolio of 115 properties (including two properties held for development, in which the Company has an 80% interest) comprising approximately 12.1 million square feet of gross leasable area. Its industrial properties include 11250 - 189 STREET, 3501 GIFFEN ROAD NORTH, 10774 - 42 STREET SE, 261185 WAGON WHEEL WAY, 502-25 AVENUE and others. Its office properties include 127-145 RUE SAINT-PIERRE, 360 RUE NOTRE-DAME WEST, 329 RUE DE LA COMMUNE WEST, 353 RUE SAINT NICOLAS, 410 RUE SAINT NICOLAS and others. Its retail properties include 2000 BOULEVARD LOUIS-FRECHETTE, 250 BOULEVARD FISET AND 240 RUE VICTORIA, 340 RUE BELVEDERE SOUTH and others.