Investment fund Nexus Real Estate announces closure

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/ NOT FOR DISTRIBUTION IN US NEWS SERVICE OR
DISTRIBUTION IN THE USA /

TORONTO & MONTREAL, 23 August 2021 (GLOBE NEWSWIRE) – Nexus Real Estate Investment Trust (“Nexus” or “REIT”) (TSX: NXR.UN) today announced the closure of a previously announced public offering (the “Offer”) of trust REIT Units (the “Units”) to a syndicate of underwriters led by BMO Capital Markets and Desjardins Capital Markets (collectively the “Underwriters”) based on a sale and purchase transaction. A total of 9,918,750 Units were issued at a price of US $ 11.30 per Share in accordance with the Proposal for total gross REIT revenue of US $ 112,081,875, which includes gross proceeds from the full exercise of the redeployment option granted to Insurers for the purchase of 1 293 750 Units.

REIT intends to use net proceeds from the Proposal to partially finance a $ 230.4 million acquisition of a portfolio of three distribution centers located in Saskatchewan and New Brunswick, with a gross leasable area of ​​approximately 1.4 million square feet leased to a single investment category … a company rated three net leases with a weighted average remaining lease term of approximately 10.6 years and for general fiduciary purposes.

The shares have been offered in each of the provinces and territories of Canada in accordance with the prospectus attachment dated August 18, 2021, filed in accordance with the Nexus main prospectus summary dated July 16, 2021. The terms of the offer are described in the appendix to the prospectus. which is available in the REIT profile on the SEDAR website at www.sedar.com.

Units have not been and will not be registered under the United States Securities Act of 1933, as amended (“The 1933 Act”) and may not be offered, sold or delivered directly or indirectly in the United States. or for, or at the expense of, or in favor of “persons of the United States” (as defined in Regulation S of the 1933 Act), except for exemptions from the registration requirements of the 1933 Act. This press release does not constitute an offer to sell or solicit the purchase of any Shares in the United States or for individuals in the United States, for their expense or benefit.

About Nexus Real Estate Investment Trust

Nexus is a growth-oriented real estate investment fund focused on increasing the value of a unit by acquiring industrial property located in the primary and secondary markets in Canada and possibly including the United States, and owning and managing its real estate portfolio. REIT currently owns a portfolio of 89 properties with a gross leasable area of ​​approximately 6.6 million square feet. REIT has approximately 43,767,000 Shares issued and outstanding. In addition, there are issued and outstanding Class B LP Shares of Nexus subsidiaries, which can be converted into approximately 16,400,000 Shares.

Forward-looking statements

Certain statements in this press release are forward-looking statements that reflect REIT’s current expectations and projections of future results, including statements about the Offer and the intended use of proceeds from it. Often, but not always, forward-looking statements can be identified by words such as “plans,” “expects,” or “does not expect,” “expected,” “estimates,” “intends,” “expects.” or “does not expect” or “believes” or variations of such words and phrases, or states that certain actions, events or results “may”, “could”, “would”, “could” or “will” be taken , happen or be achieved. Forward-looking statements involve known and unknown risks, uncertainties and other factors that could cause the actual results, performance or achievements of the REIT to differ materially from any future results, performance or achievements, whether expressed or implied in forward-looking statements. Actual results and developments may differ and may differ materially from those expressed or implied in the forward-looking statements contained in this press release. Such forward-looking statements are based on a number of assumptions that could be incorrect.

While the REIT expects that subsequent events and events may lead to a change in its views, REIT specifically disclaims any obligation to update these forward-looking statements, except as required by applicable law. These forward-looking statements should not be relied on as representing the views of the REIT as of any date following the date of this press release. There is no assurance that forward-looking statements will be accurate as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements. The above factors are not intended to provide a complete list of factors that may affect a REIT.

For more information contact:
Kelly S. Hanchik, CEO at (416) 906-2379; or
Rob Chiasson, Chief Financial Officer at (416) 613-1262.

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