Nexus Industrial REIT acquired $378 million worth of assets in 2023.

The Toronto-based REIT has also entered into senior unsecured credit facilities worth $375 million.

Nexus announced the moves in recent news releases. In the fourth quarter of 2023, the REIT bought an unidentified 336,000-square-foot property in London, Ont., for $55.8 million and agreed to purchase an 82,500-sf asset in Rocky View, Alta. Rocky View is part of the Greater Calgary industrial marketplace and home to several business park containing warehouse and distribution assets.

Montreal-based Nexus obtained the unsecured credit facilities with BMO Capital Markets acting as the lead bookrunner. The credit comprises a $190-million revolving facility, a $175-million term loan and a $10-million swingline facility. The REIT is also permitted to borrow in the form of banker’s acceptances or prime-rate advances.

“The unsecured Facilities will provide Nexus with a significant increase in financial resources and flexibility to continue our growth plans and represent the completion of the next step in the process of the REIT achieving an institutional-quality credit rating,” said Nexus CEO Kelly Hanczyk.