Nexus Real Estate Investment (TSE:NXR.UN) has released an update.
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Nexus Industrial REIT has sold its 50% interest in an office portfolio and vacant land in Montreal, marking a strategic shift to focus exclusively on industrial real estate. This move aligns with their goal to become a pure-play industrial REIT in Canada, bolstering their industrial asset contribution to 94% of their Net Operating Income. The proceeds from these sales are slated to reduce the company’s debt.
For further insights into TSE:NXR.UN stock, check out TipRanks’ Stock Analysis page.
