Nexus Real Estate Investment Trust (TSE:NXR.UN) has released an update.
Nexus Industrial REIT has reported a strong first quarter in 2024, with a $40.0 million increase in net income driven by the fair value of investment properties and a 14.8% rise in net operating income due to acquisitions of high-quality industrial properties. The company has completed key development projects, including a new distribution centre in Regina, and is optimizing its portfolio by planning to divest $200 million of non-core assets while also expanding its unsecured credit facility.
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