Nexus Acquires Two Montreal Industrial Buildings for $40.1M
AI Article Summary
Nexus Industrial REIT has acquired two industrial buildings in the Montreal area for $40.1 million. The properties, totaling 277,000 square feet, are fully leased with terms ending in 2032. The acquisition was funded by the REIT's credit facility and promises a stabilized cap rate of 10.4% by 2028. The buildings are located in LaSalle and Longueuil, Quebec, and are expected to enhance the REIT’s portfolio and financial metrics.
What This Means for Canadian Contractors
This project shows how strategic acquisitions can enhance a company’s asset portfolio and financial performance in the industrial sector. For Canadian builders, this means recognizing opportunities in fully-leased properties with potential for future value increase. The long-term leasing and increase in market cap rate also suggest a stable demand in the industrial real estate sector, informing future construction and investment decisions.
