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NexLiving Communities completes acquisition of 64-unit building in Riverview, New Brunswick
NexLiving Communities completes acquisition of 64-unit building in Riverview, New Brunswi...
About this update from Nexliving Communities Inc
[{"type":"text","content":"\n \n \n \n NexLiving Communities completes acquisition of 64-unit building in Riverview, New Brunswick\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 HALIFAX, NS\n \n ,\n \n April 5, 2022\n \n /CNW/ - NexLiving Communities Inc. (TSXV: NXLV) (\"NexLiving\" or the \"Company\") is pleased to announce that it has completed the previously announced acquisition of a 64-unit building in\n \n Riverview, NB\n \n (\"Findlay Tower\") for\n \n $11.7 million\n \n , excluding closing costs. Findlay Tower is a four-storey building with an elevator and one level of heated underground parking. The property was constructed in 2019 and is located at 1009 Cleveland Avenue,\n \n Riverview, NB\n \n . In connection with the acquisition, NexLiving has assumed a\n \n $9.25 million\n \n 40-year CMHC insured mortgage with a 1.76% interest rate and a maturity date of\n \n December 1, 2030\n \n .\n \n \n \n \n \n \n \n \n \n For more information about NexLiving, please refer to our website at\n \n www.nexliving.ca\n \n and our public disclosure at\n \n www.sedar.com\n \n .\n \n \n \n About the Company\n \n \n NexLiving continues to execute its plans to acquire recently built or refurbished, highly leased multi-residential properties in bedroom communities across\n \n Canada\n \n . The Company aims to satisfy the needs of the newly emerging 55+ resident. The demographic that has changed the world is now changing the way residential rental apartments cater to their requirements. Their desire for community, along with service, quality and convenience has led to the emergence of the 55+ active living segment. Apartments are their next \"home\", after years of owning they look forward to the carefree lifestyle provided through renting in a community of their peers. NexLiving intends to consolidate this emerging market niche. The Company currently owns 769 units in\n \n New Brunswick\n \n and\n \n Ontario\n \n . NexLiving has also developed a robust pipeline of qualified properties for potential acquisition. By screening the properties identified to match the...