Nexus Industrial REIT (NXR.UN) Q1 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

Thank you for standing by. This is the conference operator. Welcome to the Nexus Industrial REIT first quarter 2025 results conference call. As a reminder, all participants are in a listen-only mode, and the conference is being recorded. After the presentation, there will be an opportunity to ask questions. To join the question queue, you may press star, then 1 on the telephone keypad. Should you need assistance during the conference call, you may signal an operator by pressing star and then 0. I would now like to turn the conference over to Kelly Hansen, Chief Executive Officer. Please go ahead. Thank you. I'd like to welcome everyone to the 2025 First Quarter Results Conference Call for Nexus Industrial REIT. Joining me today is Mike Wall, Chief Financial Officer of the REIT. Before we begin, I'd like to caution with regard to forward-looking statements and non-JAP measures. Certain statements made during this conference call may constitute forward-looking statements which reflect the REIT's current expectations and suggestions about future results. Also, during this call, we'll be discussing non-GAAP measures. Please refer to our MD&A and the REAP Other Securities File Filings, which can be found on our website and at CEDAR.com, for cautions regarding forward-looking information and for information about non-GAAP measures. This quarter, we closed on the sale of 15 of our 16 recall properties. This marks the completion of our strategic repositioning to make Nexus the only Canada-focused pure-play industrial REAP. This transition has been several years in the making. First, we invested to improve our business. Our goal was to high-grade and optimize our portfolio, taking advantage of an uncertain economic backdrop and weaker real estate market to acquire and develop...