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NexLiving Announces Investment in 169 Suite Portfolio in Winnipeg
NexLiving Announces Investment in 169 Suite Portfolio in Winnipeg Canada NewsWire ...
About this update from Nexliving Communities Inc
[{"type":"text","content":"\n\n\n\n NexLiving Announces Investment in 169 Suite Portfolio in Winnipeg\n \n\n /* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n \n\n\n\n\n\n Canada NewsWire\n \n\n\n\n\n\n HALIFAX, NS\n \n\n ,\n \n\n May 1, 2025\n \n\n /CNW/ - (TSXV: NXLV) – NexLiving Communities Inc. (\"NexLiving\" or the \"Company\") announced today that it has acquired a 50% ownership interest in a portfolio comprising 169 suites across eight multi-residential properties located in\n \n Winnipeg, Manitoba\n \n . The remaining 50% interest in the portfolio will continue to be owned by\n \n Halifax\n \n -based VIDA who will continue to act as property manager.\n \n\n\n\n\n\n\n\n\n NexLiving's equity investment of\n \n $1.8 million\n \n was funded from existing cash on hand. The portfolio is currently financed with CMHC-insured mortgages totaling approximately\n \n $14.4 million\n \n , bearing a weighted-average interest rate of 2.72% and a remaining average term to maturity of approximately three years.\n \n\n The transaction is expected to be accretive to NexLiving's diluted FFO per share.\n \n\n\n About VIDA\n \n\n\n VIDA has acquired over 3,200 units across 240 buildings in\n \n Nova Scotia\n \n ,\n \n New Brunswick\n \n ,\n \n Prince Edward Island\n \n and\n \n Manitoba\n \n . VIDA's mission is to revolutionize affordable communities by reimagining the way people interact with their housing. It's about more than buildings – it's about tapping into people and their potential. By getting people actively involved in sustaining the community they want to live in, VIDA creates jobs, keeps costs low, preserves affordability and helps people get ahead. For more information about VIDA, please refer to their website\n \n www.vidaliving.ca\n \n .\n \n\n\n About the Company\n \n\n\n NexLiving continues to execute on its plan to acquire recently built or refurbished, highly leased multi-residential properties in bedroom communities across\n \n Canada\n \n . NexLiving aims to deliver exceptional living experiences to our residents and provide comfortable, affordable housing solutions that c...