NOT FOR DISTRIBUTION IN THE UNITED STATES OR OVER UNITED STATES WIRE SERVICES
TORONTO and MONTREAL, July 7,
2017 /CNW Telbec/ - Nexus Real Estate Investment Trust
(TSXV: NXR.UN) ("Nexus" or the "REIT") announced
today that it has completed the previously announced acquisition of
a 100% interest in two properties and a 50% interest in 24
properties located throughout the Greater
Montreal Area, the Greater Quebec
City Area, and New
Brunswick, comprising a total of 1,531,574 sq. ft. of
gross leasable area (at Nexus' ownership interests) for a purchase
price of approximately $147
million.
The purchase price of approximately $147.0 million was satisfied through the
assumption of approximately $75.7
million of mortgage debt (at the REIT's proportionate
interest) and the issuance of 952,381 Units to certain of the
vendors at $2.10 per unit,
representing an aggregate of approximately $2.0 million worth of units, with the remainder,
net of closing adjustments, settled in cash from the $55 million bought deal equity financing and
$15 million private placement which
closed on June 30, 2017 and from a
new first mortgage secured against the acquisition property located
in New Brunswick with a principal
amount of $8.5 million.
About Nexus Real Estate Investment Trust
Nexus is a growth oriented real estate investment trust focused
on increasing unitholder value through the acquisition, ownership
and management of industrial, office and retail properties located
in primary and secondary markets in North
America. The REIT currently owns a portfolio of 62
properties comprising approximately 3.5 million square feet of
rentable area. Nexus REIT has approximately 87,059,087 units issued
and outstanding. Additionally, there are approximately 6,018,065
Class B LP units of subsidiary limited partnerships of Nexus REIT
issued and outstanding.
Neither TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in policies of the TSX Venture
Exchange) accepts responsibility for the adequacy or accuracy of
this release.
SOURCE Nexus Real Estate Investment Trust