Nexus Industrial REIT Announces Suspension of Distribution Reinvestment Plan

TORONTO, June 21, 2024 (GLOBE NEWSWIRE) — Nexus Industrial REIT (“Nexus” or the “REIT”) (TSX: NXR.UN) today announced the suspension of its Distribution Reinvestment Plan (the “DRIP”) ), starting in July. 16, 2024.

The DRIP, which allowed eligible unitholders to reinvest all or a portion of their cash distributions in additional units of the REIT, will be suspended due to the low price of the units in the current market and unfavorable dilution for the REIT. resulting unitholders. The REIT believes that this measure is in the best interests of its unitholders.

Unitholders participating in the DRIP will receive their cash distributions following the July 15, 2024 distribution until further notice. The REIT will continue to evaluate the DRIP and consider reinstating it when market conditions improve. Upon reinstatement of the DRIP, plan participants enrolled in the DRIP at the time of its suspension will remain enrolled at the time of its reinstatement and will automatically resume participation in the DRIP at that time.

About Nexus Industrial REIT

Nexus is a growth-oriented real estate investment trust focused on increasing unitholder value through the acquisition of industrial properties located in Canada’s primary and secondary markets as well as the ownership and management of its property portfolio. The REIT currently owns a portfolio of 119 properties (including two development properties in which the REIT holds an 80% interest) representing approximately 13.0 million square feet of gross leasable area. The REIT has approximately 93,629,000 voting units issued and outstanding, including approximately 70,675,000 units of the REIT and approximately 22,954,000 Class B units of limited partnership subsidiaries of Nexus, which are convertible into units of the REIT on on an individual basis.

For more information please contact:

Kelly C. Hanczyk, CEO at (416) 906-2379; Or
Mike Rawle, Chief Financial Officer at (289) 837-2650.