Business
NexLiving Announces Transaction to Acquire 108 Townhomes in Ottawa
HALIFAX, Nova Scotia, Sept. 25, 2025 (GLOBE NEWSWIRE) -- NexLiving Communities Inc. (“NexL...
About this update from Nexliving Communities Inc
[{"type":"text","content":"NexLiving Announces Transaction to Acquire 108 Townhomes in Ottawa\n\n\n\n HALIFAX, Nova Scotia, Sept. 25, 2025 (GLOBE NEWSWIRE) -- NexLiving Communities Inc. (“NexLiving” or the “Company”) is pleased to announce it has secured an option to acquire five blocks of townhomes, for a total of 108 units, located in Ottawa, Ontario (the “Properties”). The Properties will be part of a master-planned community in the established and growing Barrhaven suburb of Ottawa. Construction is expected to be completed in late 2026.\n \n\n Stavro Stathonikos, President & CEO of NexLiving, commented: “We’re pleased to announce this acquisition, which highlights the type of off-market opportunities we’re seeing through our strategic relationship with Devcore. The transaction provides an entry point into the Ottawa housing market while mitigating risks across construction, lease-up, and financing. Once complete, our portfolio will have grown by more than 10% this year, funded entirely through free cash flow and without issuing new equity. This acquisition is expected to deliver double-digit returns for shareholders and aligns with our strategy to grow in our core markets with newly built, well-appointed, larger rental suites designed for long-term residents.”\n \n\n\n Description of the Properties\n \n\n\n The acquisition consists of 108 two-storey stacked townhomes to be constructed within\n \n The Conservancy\n \n , a master-planned community in Barrhaven, Ottawa. The townhomes range from 900 to 1,033 sq. ft. and include 2 bedrooms, 2 bathrooms, and a dedicated surface parking spot. Interiors feature 9’ ceilings, granite countertops, laminate flooring, and a full appliance package. The community offers proximity to nearby schools, parks, shopping, and is adjacent to planned transit infrastructure, including the future LRT extension. The net property operating income (“NOI”) of the Properties is estimated to be $2.0 to 2.3 million annually based on current Ottawa market rents, projected operating costs, and stabilized occupancy rates for the Properties.\n \n\n\n Transaction Structure\n \n\n\n NexLiving initially entered into purchase agreements to acquire the Properties on June 27, 2025 with Caivan Homes Barrhaven Conservancy Inc., an arm’s-length p...