NexLiving Communities Inc (TSE:NXLV) has released an update.
NexLiving Communities Inc. has successfully sold its McLaughlin property, comprised of a 127-suite complex in Moncton, for $19.4 million, a 5% premium over its latest valuation. This transaction allows NexLiving to receive around $4.7 million in cash after mortgage settlement, significantly improving the company’s financial health by reducing the net debt to gross book value ratio. The sale also resulted in a robust 40+% internal rate of return on the company’s original investment.
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