Nexus Industrial REIT announced that it has closed on its previously disclosed acquisition of an industrial property in London, Ontario. The $55.8 million acquisition was partially financed through the issuance of 2,394,774 Class B LP Units of a subsidiary limited partnership of Nexus at a price of $11.30 per unit in settlement of approximately $27.1 million of the purchase price. The 336,000 square foot property includes a newly constructed 185,000 square foot addition and sits on 22.6 acres of land with the potential to add an additional 150,000 square feet of industrial development.

The property was acquired at a 6.0% going-in capitalization rate. This acquisition further solidifies the REIT?s position as the dominant landlord in the London, Ontario market which is one of the strongest performing industrial markets in Canada.