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Bullboard - Stock Discussion Forum Nexus Industrial REIT T.NXR.UN

Alternate Symbol(s):  EFRTF

Nexus Industrial REIT is a Canada-based open-ended real estate investment trust. The Company and its subsidiaries own and operate commercial real estate properties across Canada. The Company is focused on increasing unitholder value through the acquisition of industrial properties located in primary and secondary markets in Canada, and the ownership and management of its portfolio of properties... see more

TSX:NXR.UN - Post Discussion

Nexus Industrial REIT > Nexus improving industrial target
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Post by hawk35 on Aug 19, 2021 6:48pm

Nexus improving industrial target

Nexus had a 2021 target that 75% of income would come from industrial properties.  They exceeded this goal this week and are currently sitting at 80%.  They have now set a new short term target of achieving 90% of income coming from industrial.

How will they achieve this in the short term?  Desjardins hinted at the plan that is in place.  They plan to sell / dispose of 6 ord 7 office/retail properties for about $100 million.  These properties have desirable tenants like Cdn Tire, Shoppers Drugmart, IGA, Metro, Rona, Government of Canada, Sunlife).  The reit is also selling surplus land attached to a retail property for about $25 million dollars.  (The purchaser already has plans to build residential housing on this land.)  They expect this to happen late this year or early next year.

At the same time, they are looking at using the proceeds from the disposition of the retail / office properties to acquire additional industrial properties from the same London vendor they have a relationship with that is worth between $170 and $270 million.

This is what I really like about management.  They set targets and goals for themselves and back it up with a clear plan to achieve the goal.  They also protect their balance sheet that ensures the market and rating agencies continue to view the company favourably.
Comment by apollojetic on Aug 20, 2021 11:55am
Very well sumarized....This reit is a must own. 
Comment by Sunnyboy on Aug 20, 2021 4:34pm
Rated a Strong Buy wherever I look!!
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