“Our portfolio performed well in the quarter, with year-over-year same property [net operating income] increasing $0.1 million,” said Kelly Hanczyk, CEO of Nexus Industrial REIT.
“Leasing activity continues to be strong, particularly in southwestern Ontario. On 164,278 square feet of Ontario leasing and renewals, we realized 68% rental rate growth. We will continue to see strong rental rate growth in the Ontario and Quebec industrial markets in particular. The positive impact of this leasing activity will be seen in the third and fourth quarters.”
As of the end of June, Nexus Industrial held $150 million in recently acquired properties which it described as “unencumbered”.
“Once these properties are financed and the proceeds are deployed to acquire…