Nexus Real Estate Investment Trust ( (EFRTF) ) has released its Q1 earnings. Here is a breakdown of the information Nexus Real Estate Investment Trust presented to its investors.
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Nexus Industrial REIT, a Canadian real estate investment trust, focuses on acquiring and managing industrial properties across primary and secondary markets in Canada.
In its first quarter of 2025, Nexus Industrial REIT reported a significant transition to a pure-play industrial REIT, with net operating income increasing by 8.6% due to strategic acquisitions and developments. The company successfully sold 15 legacy retail properties and an office building, significantly reducing its debt and focusing on industrial assets.
Key financial highlights include a net income of $33.2 million, driven by a net operating income of $32.1 million. The REIT’s industrial in-place and committed occupancy rose to 97%, and the normalized funds from operations per unit increased to $0.187. The REIT also advanced construction on two major projects, expected to add $6.6 million in annual stabilized NOI upon completion in the third quarter.
Looking ahead, Nexus Industrial REIT aims to continue its growth as a Canada-focused industrial REIT, with expectations of mid-single-digit same property NOI growth for the year. The completion of ongoing development projects is anticipated to further enhance the company’s financial performance.