TORONTO and MONTREAL, April 20,
2017 /CNW Telbec/ - Nexus Real Estate Investment Trust
(the "REIT") (TSXV: NXR.UN) 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
May 15, 2017 to unitholders of record as of April 28, 2017.
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 June 15, 2017 to
unitholders of record as of May 31,
2017.
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.
The REIT also announced today that it has paid outstanding
retainer fees payable to independent trustees of the REIT in the
amount of $26,875, net of applicable
payroll withholding taxes of $4,002,
through the issuance of 11,742 units of the REIT ("Trust
Units") at an average price of $1.948 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 August 20, 2017. 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 REIT
Nexus REIT 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 36 properties comprising approximately 2.1 million
square feet of rentable area.
Nexus REIT has approximately 53,491,275 units issued and
outstanding. Additionally, there are approximately 6,034,565 Class
B LP units of subsidiary limited partnerships of Nexus REIT issued
and outstanding.
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