Nexus Industrial REIT Announces the Acquisition of Two Montreal Industrial Buildings

Core Viewpoint - Nexus Industrial REIT has acquired two industrial buildings in Montreal for $40.1 million, which are expected to enhance the REIT's value through long-term leases and significant future cap rate increases [1][2]. Acquisition Details - The acquisition includes two buildings with a combined gross leasable area (GLA) of 277,000 square feet, under long-term leases expiring in November 2032 [1]. - The initial cap rate on the leases is 6.6%, projected to increase to a stabilized market rate of 10.4% by 2028 [1][2]. Property Information - The properties acquired are located at: - 7505 Rue Saint-Patrick, LaSalle, QC, with a GLA of 193,916 square feet [3]. - 2370 Rue de la Province, Longueuil, QC, with a GLA of 83,249 square feet [3]. Company Overview - Nexus Industrial REIT is focused on increasing unitholder value through the acquisition and management of industrial properties in Canada, currently owning 89 properties with approximately 12.9 million square feet of GLA [4].