Nexus Industrial REIT (TSX:NXR.UN) acquired 1005 Wilton Grove Road, London, Ontario from 1803299 Ontario Inc. for CAD 55.8 million.
November 31, 2023
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Nexus Industrial REIT (TSX:NXR.UN) acquired 1005 Wilton Grove Road, London, Ontario from 1803299 Ontario Inc. for CAD 55.8 million on November 1, 2023. The CAD 55.8 million acquisition was partially financed through the issuance of 2,394,774 Class B LP Units of a subsidiary limited partnership of Nexus at a price of CAD 11.30 per unit in settlement of approximately CAD 27.1 million of the purchase price. As partial consideration for the acquisition of the property the REIT?s subsidiary, Nobel REIT Limited Partnership, issued 2,394,774 Class B limited partnership units with a value of CAD 27,060,949. Each LP Unit is economically equivalent to one trust unit in the REIT and will entitle the holder thereof to receive distributions in cash from the REIT equal to the distributions that such holder would have received if it was holding one Unit. In addition, each LP Unit is exchangeable, at any time, at the option of the holder, for one Unit. Each LP Unit has attached to it one special voting unit which provides the holder thereof with voting rights in respect of the REIT. The Special Voting Units are not listed on any exchange.
Nexus Industrial REIT (TSX:NXR.UN) completed the acquisition of 1005 Wilton Grove Road, London, Ontario from 1803299 Ontario Inc. on November 1, 2023.
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.