Nexus Real Estate Investment Trust has joined the roster of TSX-listed REITs. Nexus units were consolidated at a factor of four-to-one and delisted from the TSX Venture Exchange upon today’s graduation to trading on the TSX. Accordingly, the monthly distribution of $0.01333 per pre-consolidation unit will be adjusted to $0.05333 per post-consolidation unit.
“The graduation to the TSX is part of our strategy to increase exposure to investors and improve our trading liquidity” reports Kelly Hanczyk, Nexus REIT’s chief executive officer. “The higher per unit trading price resulting from the four-for-one unit consolidation will also help attract a wider investor base.”
The REIT currently boasts 75 assets encompassing 4.4 million square feet of rentable area and is slated to complete acquisitions for a further 1.3 million square feet of industrial space later this winter and spring. “We are focused on growing the REIT’s industrial portfolio, an asset class that has provided significant stability to the REIT since inception, and we hope to be successful in completing a number of industrial acquisitions this year,” Hanczyk adds.
