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Nexus REIT Announces Closing of $55 Million Offering and $15 Million Private Placement
Nexus REIT Announces Closing of $55 Million Offering and $15 Million Private Placement ...
About this update from Nexus Industrial Reit
[{"type":"text","content":"\n\n\n\nNexus REIT Announces Closing of $55 Million Offering and $15 Million Private Placement\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.prntac{\nTEXT-ALIGN: CENTER\n}\n\n\n\n\n\n\n\nCanada NewsWire\nTORONTO and MONTREAL, June 30, 2017\n\n\n\n/NOT FOR DISTRIBUTION IN THE UNITED STATES OR OVER UNITED STATES WIRE SERVICES/\n\n\n\nTORONTO and MONTREAL, June 30, 2017 /CNW Telbec/ - Nexus Real Estate Investment Trust (TSXV: NXR.UN) (\"Nexus\" or the \"REIT\") announced today the closing of its previously announced public offering of 26,200,000 trust units of the REIT (\"Units\") for gross proceeds to the REIT of approximately $55.0 million (the \"Offering\"). The Offering was conducted through a syndicate of underwriters co-led by Desjardins Capital Markets and National Bank Financial Inc. and including Echelon Wealth Partners Inc., GMP Securities L.P., TD Securities Inc., Canaccord Genuity Corp., Industrial Alliance Securities Inc., Manulife Securities Incorporated and Laurentian Bank Securities Inc., on a bought deal basis.\n\nConcurrent with the Offering, RFA Nobel Limited Partnership and its investors purchased 7,150,000 Units at a price of $2.10 per Unit, on a non-brokered private placement basis, for gross proceeds to the REIT of approximately $15.0 million (the \"Concurrent Private Placement\"). The Units issued pursuant to the Concurrent Private Placement are subject to a statutory hold period that will expire on November 1, 2017.\n\nThe REIT intends to use the net proceeds from the Offering and the Concurrent Private Placement to partially finance the previously announced acquisition of a 100% interest in two properties and a 50% interest in 24 properties located throughout the Greater Montreal Area, the Greater Quebec City Area and New Brunswick, comprising an aggregate of 1,531,574 square feet of gross leasable area at the REIT's proportionate interest, from vending entities (the \"Sandalwood Sellers\") associated with and/or related to Sandalwood Management Inc. for an aggregate purchase price of approximately $147.0 million (the \"Acquisition\"). The remainder of...