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Nexus Industrial REIT Announces Fourth Quarter and Year End 2025 Financial Results
TORONTO, March 05, 2026 (GLOBE NEWSWIRE) -- Nexus Industrial REIT (the “REIT”) (TSX...
About this update from Nexus Industrial Reit
[{"type":"text","content":"Nexus Industrial REIT Announces Fourth Quarter and Year End 2025 Financial ResultsTransitioned to a pure-play industrial REIT; Attractive development properties completed; Strong leasing activity\nTORONTO, March 05, 2026 (GLOBE NEWSWIRE) -- Nexus Industrial REIT (the “REIT”) (TSX: NXR.UN) announced today its results for the fourth quarter and year ended December 31, 2025. “2025 was a transformative year for Nexus, and I am very pleased with the results” said Kelly Hanczyk, CEO of Nexus Industrial REIT. We kept a long-term focus, completing our strategic transition to become the only scale, Canada-focused industrial REIT, and completed two value-accretive projects, adding 440,000 square feet of GLA that will deliver an unlevered return of 9.4% on development costs. We also acquired two well-located, high-quality buildings in Montreal initially contributing $2.6 million in annual NOI with significant mark-to-market potential in 2028, leading to a stabilized cap rate of 10.4%. We continued to deliver strong leasing results, realizing industrial SPNOI growth of 2.6% despite unexpected CCAA-related vacancies of two tenants, and achieving an average increase over in-place and expiring rents of +60%. The moves we have made with the portfolio over the last several years have created a strong foundation for us to build on in 2026, with a healthy balance sheet and robust operating performance propelling mid-single digit industrial SPNOI growth, and a normalized payout ratio averaging below 100% on a full year basis. \"I am very excited with the progress that we have made, and I am confident that our strategy will continue to be rewarding for our stakeholders” concluded Mr. Hanczyk. Fourth Quarter 2025 Highlights: Net income was $30.6 million driven by NOI(1) of $33.0 million and fair value adjustments (gains) of $20.3 million, partially offset by finance expense and general and administrative expenses.NOI(1) increased 2.7% versus a year ago to $33.0 million primarily attributable to growth in Industrial Same Property NOI(1) and completed developments, despite selling 19 legacy retail, office and industrial properties in 2025.Industrial Same Property NOI(1) increased 2.8% versus a year ago to $30.0 million.Opportunistically acquired two industrial properties in Montreal, QC, for $40.1 million.Sold a land ...