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Nexus Industrial REIT Announces Second Quarter 2025 Financial Results
TORONTO, Aug. 11, 2025 (GLOBE NEWSWIRE) -- Nexus Industrial REIT (the “REIT”) (TSX:...
About this update from Nexus Industrial Reit
[{"type":"text","content":"Nexus Industrial REIT Announces Second Quarter 2025 Financial ResultsStrong operating results following a strategic transition to a pure-play industrial REIT\n\n\n\n TORONTO, Aug. 11, 2025 (GLOBE NEWSWIRE) -- Nexus Industrial REIT (the “REIT”) (TSX: NXR.UN) announced today its results for the second quarter ended June 30, 2025.\n \n\n\n “The second quarter marked our first as a pure-play industrial REIT, and our strong operating results continued. Compared to a year ago, our normalized FFO per unit grew 5.6%, and industrial SPNOI grew 2.8%”\n \n said Kelly Hanczyk, CEO of Nexus Industrial REIT.\n \n\n\n “Over the past 12 months we have simultaneously grown NOI by 1.7%, while also completing the strategic disposition of 33 legacy retail, office, and non-core industrial properties. And, we will soon begin to realize the next phase of growth: we are nearing completion of two developments ahead of plan, which will add $6.6 million of annual stabilized NOI, representing unlevered returns of 9.4% on costs.\n \n\n\n\n I am very pleased with the progress that we have made, and I am confident that our strategy will continue to be rewarding for our stakeholders”\n \n concluded Mr. Hanczyk.\n \n\n\n Second Quarter 2025 Highlights:\n \n\n\n\n Advanced construction on the 325,000 sq. ft. expansion project in St. Thomas, ON, and on the 115,000 sq. ft. new industrial small-bay complex in Calgary, AB. Combined, these projects will add annual stabilized NOI of $6.6 million when complete and stabilized. Completion of both projects is planned for the third quarter.\n \n\n Completed 395,412 sf of leasing at an average spread of 38% over expiring and in-place rents.\n \n\n Completed the sale of two non-core industrial properties for a total proceeds of $11.2 million.\n \n\n Net loss was $7.6 million driven by fair value losses on Class B LP units and on investment properties, partially offset by net operating income (\"NOI\")\n \n (1)\n \n of $32.2 million and by fair value gains on derivative instruments.\n \n\n NOI\n \n (1)\n \n increased 1.7% versus a year ago to $32.2 million from the acquisition of high-quality, tenanted income-producing industrial properties, and growth in industrial Same Property NOI\n \n (1)\n \n , despite selling 33 legacy retail, office, and non-core industrial properties.\n \n\n I...