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Nexus REIT (TSX:NXR.UN) Targets Mid-Single Digit NOI Growth, with 325,000 sq ft Expansion Set for Q2 Completion
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Highlights
Nexus Industrial REIT (TSX:NXR.UN) is a growth-driven real estate investment trust dedicated to enhancing unitholder value by acquiring, owning, and managing a diversified portfolio of industrial, office, and retail properties.
In the financial year 2024 (FY24), the company reported 11.4% year-over-year increase in property revenues to CAD 175.7 million, driven by portfolio expansion and improved utilization of gross leasable area (GLA). Net Operating Income (NOI) also saw a solid 12.4% YoY increase to CAD 125.9 million, reflecting the company's operational execution and enhanced rent-generating capacity, supporting its strategy of profitable growth through acquisitions and development.
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