Nexus REIT Announces Release Date for Third Quarter Results and Results Call, October 2020 Distribution, Updates on TSX Graduation and Acquisition, and Issuance of Units to Settle Debt

TORONTO and MONTREAL, Oct. 19, 2020 (GLOBE NEWSWIRE) -- Nexus Real Estate Investment Trust (the “REIT”) (TSXV: NXR.UN) announced today that it intends to release its financial results for the quarter ended September 30, 2020 before the opening of the TSX on Tuesday November 17, 2020.

Management of the REIT will host a conference call at 1:00 PM Eastern Standard Time on Tuesday November 17, 2020 to review the financial results and operations.

To participate in the conference call, please dial 416-915-3239 or 1-800-319-4610 (toll free in Canada and the US) at least five minutes prior to the start time and ask to join the Nexus REIT conference call.

A recording of the conference call will be available until December 17, 2020. To access the recording, please dial 604-674-8052 or 1-855-669-9658 (toll free in Canada and the US) and enter access code 5401.

TSX Graduation Update

The REIT is working through its listing application with the TSX and expects to graduate shortly. Subject to Exchange approval, the REIT plans to undertake a 4 to 1 unit consolidation at or around the time of graduation to the TSX.

October Distribution

The REIT will make a cash distribution in the amount of $0.01333 per unit, representing $0.16 per unit on an annualized basis, payable November 13, 2020 to unitholders of record as of October 30, 2020. Should the REIT complete its planned unit consolidation prior to the October 30, 2020 record date, the distribution amount will be adjusted proportionately.

The REIT’s distribution reinvestment plan (“DRIP”) entitles eligible unitholders to elect to receive all, or a portion of the cash distributions of the REIT reinvested in units of the REIT. Eligible unitholders who so elect will receive a bonus distribution of units equal to 4% of each distribution that was reinvested by them under the DRIP.

Insider participation in the DRIP is approximately 1.5% of total participation for the October distribution payable on November 13, 2020.

A total of 2,996,655 units have been issued under the DRIP since its inception in February 2014.

Acquisition Update

On October 1, 2020, the REIT completed the acquisition announced on August 24, 2020. The REIT acquired a single-tenant industrial property located in Rocky View County Alberta, within the Calgary Metropolitan Region, for a contractual purchase price of $13,750,000 at an attractive 6.8% going-in capitalization rate. The property has a gross leasable area of 95,180 square feet on 10 acres of land and is fully occupied by a company that specializes in commercial building products. The contractual purchase price was partially satisfied through the issuance of 2,750,000 Class B LP Units of a subsidiary limited partnership of the REIT at a deemed value of $2.00 per unit, which are convertible to REIT Units on a one to one basis.