Nexus REIT buys distribution centers for $230m

Nexus Real Estate Investment has waived conditions on the acquisition of a portfolio of three distribution centers located in Saskatchewan and New Brunswick for a purchase price of approximately $230.4 million.

Kelly Hanczyk, the REIT’s CEO, said, “Upon closing of the announced transactions, we will have completed over $640 million of industrial acquisitions since the beginning of 2021. Our industrial portfolio weighting will increase to approximately 80 percent of NOI, well surpassing our previously stated goal of 75 percent. The acquisition opportunities are highly compelling and consistent with our stated strategy. The pipeline of asset acquisition opportunities in exchange for units from our London vendor reinforces their commitment to Nexus and their belief in the REIT’s strong growth fundamentals. We continue to see good industrial acquisition opportunities across Canada and expect strong fundamentals and momentum in the asset class to persist.”

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