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.