TORONTO and MONTREAL, Jan. 23,
2019 /CNW/ - Nexus Real Estate Investment Trust (the
"REIT") (TSXV: NXR.UN) announced today that it intends to release
its financial results for the fourth quarter and year ended
December 31, 2018 before the opening
of the TSX Venture Exchange on Monday March
18, 2019.
Management of the REIT will host a conference call at
1:00 PM Eastern Standard Time on
Monday, March 18, 2019 to review the financial results
and operations.
To participate in the conference call, please dial 416-915-3239
or 1-800-319-4610 (toll free in Canada and the US) at least five minutes prior
to the start time and ask to join the Nexus REIT conference
call.
A recording of the conference call will be available until
April 18, 2019. To access the
recording, please dial 604-674-8052 or 1-855-669-9658 (toll free in
Canada and the US) and enter
access code 2919.
January and February Distributions
The REIT announced today that it will make a cash distribution
in the amount of $0.01333 per unit,
representing $0.16 per unit on an
annualized basis, payable February 15, 2019 to unitholders of
record as of January 31, 2019.
The REIT will also make a cash distribution in the amount of
$0.01333 per unit, representing
$0.16 per unit on an annualized
basis, payable March 15, 2019 to
unitholders of record as of February 28,
2019.
The REIT has adopted a distribution reinvestment plan
("DRIP") whereby residents of Canada may elect to have all or a portion of
the cash distributions of the REIT automatically reinvested in
additional units of the REIT. Eligible unitholders who so elect
will receive a bonus distribution of units equal to 4% of each
distribution that was reinvested by them under the DRIP.
Payment of Trustee Fees in Units
The REIT has paid outstanding retainer fees payable to
independent trustees of the REIT in the amount of $53,125, net of applicable payroll withholding
taxes of $10,258, through the
issuance of 22,844 units of the REIT ("Trust Units") at an
average price of $1.8766 per Trust
Unit. The Trust Units were issued under the REIT's Non-Executive
Trustee Unit Issuance Plan.
The Trust Units are subject to a four-month hold period expiring
on May 24, 2019. The transaction
constitutes a related party transaction pursuant to Multilateral
Instrument 61-101 – Protection of Minority Security Holders in
Special Transactions ("MI 61-101"). The REIT is exempt from
the formal valuation and minority approval requirements of MI
61-101 in reliance on Section 5.5(b) and Section 5.7(a),
respectively.
About Nexus Real Estate Investment Trust
Nexus is a growth oriented real estate investment trust focused
on increasing unitholder value through the acquisition, ownership
and management of industrial, office and retail properties located
in primary and secondary markets in North
America. The REIT currently owns a portfolio of 66
properties comprising approximately 3.7 million square feet of
rentable area. The REIT has approximately 92,767,000 units issued
and outstanding. Additionally, there are Class B LP units of
subsidiary limited partnerships of Nexus REIT issued and
outstanding, which are convertible into approximately 19,746,000
REIT units.
Neither TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in policies of the TSX Venture
Exchange) accepts responsibility for the adequacy or accuracy of
this release.
SOURCE Nexus Real Estate Investment Trust