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NexLiving Announces New Acquisition of 149 Suites in Saint John
NexLiving Announces New Acquisition of 149 Suites in Saint John Canada NewsWire ...
About this update from Nexliving Communities Inc
[{"type":"text","content":"\n \n \n \n NexLiving Announces New Acquisition of 149 Suites in Saint John\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 Dec. 16, 2022\n \n \n /CNW Telbec/ - NexLiving Communities Inc. (TSXV: NXLV) (\"NexLiving\" or the \"Company\") announced today that it has acquired a portfolio of two properties in\n \n Saint John, New Brunswick\n \n for\n \n $34.3 million\n \n . The acquisition includes an adjacent parcel of land that is approved for a future development project of up to 85 units. Including the land parcel in the acquisition price, the blended capitalization rate is 4.75%. The consideration will be satisfied with a combination of cash on hand and\n \n $25.7 million\n \n of mortgages that bear a weighted average interest rate of 3.06% and a weighted average term to maturity of 3.5 years.\n \n \n \n \n \n \n \n \n \n The first property, 50 Calabria Street, is a four-storey luxury building with 82-suites, located in the east end of\n \n Saint John\n \n near the city's prime shopping district. This newly constructed building is equipped with two elevators and has underground and surface parking options for residents. The building offers attractive amenities including three fitness centres, a community room, walking trails, pickleball and basketball courts and more. All units have a balcony, in-suite laundry, multi-zone air-conditioning and smart home features (resident's app, valet entrance, keyless entry technology, facial recognition entry, smart home water heater, EV charging stations etc.). The property includes a separate parcel of land that is approved for future development of up to 85 units.\n \n \n The second property, 5 Woodhollow Park, is a four-storey building with 67-suites located in east end\n \n Saint John\n \n with close proximity to transit and local amenities. The building was constructed in two phases in 2013 and 2015 and is equipped with an elevator, spacious 1 & 2 bedroom suites featuring walk-out patios, in-suite laundry and generous surface parking options for res...