Nexus is nearly a pure-play industrial REIT with diversified assets across Canada, delivering strong 6.6% NOI and 12% FFO growth year-over-year. AFFO payout ratio remains elevated but is improving, with management guiding for mid-single digit same property NOI growth in 2025. Insider buys and a big margin of safety gets us back to the buy side.
Q1 Net Operating Income grew 8.6% from accretive acquisitions, development, and 6.6% industrial SPNOI Completed the strategic transition to a pure-play industrial REIT TORONTO, May 14, 2025 (GLOBE NEWSWIRE) -- Nexus Industrial REIT (the “REIT”) (TSX: NXR.UN) announced today its results for the first quarter ended March 31, 2025. “In the first quarter we completed our strategic transition to a pure-play, Canada-focused industrial REIT” said Kelly Hanczyk, CEO of Nexus Industrial REIT.
OAKVILLE, Ontario, April 08, 2025 (GLOBE NEWSWIRE) -- Nexus Industrial REIT (“Nexus” or the "REIT") (TSX: NXR.UN) is pleased to announce the sale of its 50% ownership interest in 15 retail buildings located in Quebec for $47 million and one office building also located in Quebec for $4 million, representing cap rates on in-place rents of 6.8% and 9.5% respectively (together, the “Properties”). The REIT intends to use the net proceeds from the dispositions to repay existing indebtedness on its credit facility and to fund development projects.
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XFRA Exchange | CA Country |
Nexus is an ambitious real estate investment trust (REIT), primarily engaged in both increasing the value for its unitholders and expanding its portfolio through strategic acquisitions of industrial properties. With its operations rooted in Canada, Nexus aims at capitalizing on opportunities in both primary and secondary markets. Currently, the REIT boasts ownership of 116 properties, including two development projects in which it holds an 80% interest, amassing around 12.4 million square feet of gross leasable area. As a testament to its growth and investor confidence, Nexus has around 93,038,000 voting units outstanding, divided into approximately 68,427,000 REIT Units and about 24,611,000 Class B LP Units. These LP Units, issued by subsidiary limited partnerships, are convertible to REIT Units on a one-to-one basis, highlighting Nexus’s fluid and investor-friendly structure.
Nexus focuses on the strategic acquisition of industrial properties within Canada. This endeavor is aimed at identifying and securing valuable real estate in both primary and secondary markets, thereby ensuring growth and diversification of its portfolio. The REIT’s acquisition strategy is designed to target assets that promise high returns and growth potential, underlining Nexus’s commitment to increasing unitholder value.
The REIT not only acquires but also owns and manages a diverse portfolio of industrial properties. With ownership extending to 116 properties, including two development projects, Nexus ensures that its gross leasable area — totalling approximately 12.4 million square feet — is managed with utmost efficiency and professionalism. The firm's property management strategies are focused on maximizing occupancy rates, optimizing operating costs, and enhancing the value of its real estate assets, thereby ensuring robust returns for its unitholders.
Nexus offers substantial investment opportunities through its various classes of units. With approximately 93,038,000 voting units, including REIT Units and Class B LP Units, the REIT provides a flexible investment platform. These investment vehicles permit unitholders to participate in the ownership and growth of Nexus’s real estate portfolio. The availability of Class B LP Units, convertible on a one-to-one basis to REIT Units, further amplifies the investment flexibility, offering a compelling proposition for prospective investors looking to leverage the real estate market’s potential.