Nexus Industrial REIT (NXR.UN) Q2 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

Welcome to Nexus Industrial Geek second quarter of 2025 results conference call. As a reminder, all participants are in 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 your cell phone keypad. Should you need assistance in the conference call, you may press signal and operate by pressing star then 0. I would now like to turn the conference over to Kelly Henshicks. Chief Executive Officer. Please go ahead. I'd like to welcome everyone to the 2025 Second 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-draft measures. Certain statements made during this conference call may constitute forward-looking statements which reflect the REIT's current expectations and projections of our future results. Also during this call, we'll be discussing non-draft measures. Please refer to our MD&A and the REIT's other securities patterns, which can be found on our website and at cdr.com for cautions regarding forward-looking information and for information about non-GAAP measures. All right, the second quarter was our first of the PurePlex Canadian-focused industrial REIT, and I'm very pleased with the results. Despite selling our office and retail portfolios in some non-core industrial buildings over the past 12 months, which is 33 properties in total, Our net operating income increased this quarter by 1.7% to $32.2 million compared to a year ago. This is a fantastic achievement. This growth can be largely attributed to three things. One, strong leasing and robust growth in this industrial-pl...