Nexus Real Estate Investment (TSE:NXR.UN) has released an update.
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Nexus Industrial REIT has divested its 50% stake in six Montreal office properties as part of its transition to a pure-play industrial focus, with industrial assets now making up 94% of its net operating income. The proceeds from these sales will be used to pay down debt on their credit facility. Additionally, the company successfully leased its newly constructed Titan Park industrial property, which will contribute significantly to its annual income.
For further insights into TSE:NXR.UN stock, check out TipRanks’ Stock Analysis page.
