- What Nexus Industrial REIT has sold its 50% interest in two Montréal office properties
- Why Transaction is part of company’s strategy to be a Canada-focused pure-play industrial REIT
- What next Net proceeds will be used to pay down the company’s credit facility
Nexus Industrial REIT has sold its stake in two office properties in Montréal to Metrocap.
The Toronto-based company offloaded its 50% interest in the 40,000 sq ft, five-storey building at 63 rue des Brésoles and the 37,000 sq ft, two-storey commercial/industrial building at 425 rue Guy.
CEO Kelly Hanczyk said the transaction is part of the company’s strategy to be a Canada-focused pure-play industrial REIT.
It also sold 11 acres of vacant land in Fort St. John, B.C., for $2.4m in cash.
Net proceeds from both sales will be used to repay the company’s credit facility.
