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Canada  + Ontario  + Industrial  | 

Nexus Acquires $378M of Industrial Assets

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.


Inside The Story

Kelly HanczykNexus Industrial REIT

About Monte Stewart

Monte Stewart serves as Content Director - Canada for Connect Commercial Real Estate. Based in Vancouver, British Columbia, Monte provides daily news coverage of major Canadian commercial real estate markets, including Vancouver, Toronto, Montreal and Calgary. He has written about the real estate sector for various media outlets and Avison Young since the early 2000s. In addition, he has covered sports, general news and business for several leading wire services and publications, including The Canadian Press, The Associated Press, The Calgary Herald, The Globe and Mail, Research Money, The Daily Oil Bulletin, Natural Gas World and The Toronto Star. Monte is active in his community as a youth basketball coach and raises funds for such charitable causes as Movember.

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