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NEXUS REIT ANNOUNCES FULL YEAR 2020 AND FOURTH QUARTER RESULTS Toronto , Ontario and Montreal , Quebec , March 17 , 2021 - Nexus Real Estate Investment Trust ( the " REIT " ) ( TSX : NXR.UN ) announced today its results for the year and fourth quarter ended December 31 , 2020 . Highlights Occupancy of 93 % at December 31 , 2020 remained consistent as compared to Q3 2020 and Q4 2019 . Rent collections continue to be strong despite the challenges of COVID - 19 . Completed a total of $ 50.25MM of industrial acquisitions during the fourth quarter of 2020 . YTD 2020 net operating income of $ 39,226,095 increased $ 1,297,995 or 3.4 % as compared to 2019 net operating income of $ 37,928,100 . Q4 2020 net operating income of $ 9,698,301 decreased $ 251,061 or 2.5 % compared to $ 9,949,362 for Q3 2020 and increased $ 41,027 or 0.4 % compared to $ 9,657,274 for Q4 2019 . Q3 2020 NOI was higher primarily due to a $ 124,000 early lease termination fee and COVID - 19 wage subsidies indirectly benefiting the REIT in Q3 . ● N Nexus REIT ● YTD 2020 normalized FFO per unit of $ 0.215 , as compared to $ 0.225 for 2019 ; Q4 2020 normalized FFO unit of $ 0.051 , as compared to $ 0.055 for Q3 2020 and $ 0.058 for Q4 2019 . per YTD 2020 normalized AFFO per unit of $ 0.193 , as compared to $ 0.201 for 2019 ; Q4 2020 normalized AFFO per unit of $ 0.046 , as compared to $ 0.048 for Q3 2020 and $ 0.052 for Q4 2019 . YTD 2020 normalized AFFO payout ratio 82.4 % compared to 79.4 % for 2019 ; Q4 2020 normalized AFFO payout ratio of 86.1 % , as compared to 84.2 % for Q3 2020 and 77.0 % for Q4 2019 . Ended 2020 with $ 14MM of cash and full availability of $ 5MM credit facility ; debt to total assets of 48.2 % . Book NAV per unit , including Class B LP Units , of $ 2.54 ( $ 10.16 post - Consolidation ) at December 31 , 2020 , as compared to $ 2.46 ( $ 9.84 post - Consolidation ) at September 30 , 2020 and $ 2.52 ( $ 10.08 post - Consolidation ) at December 31 , 2019 . Graduated to the Toronto Stock Exchange on February 1 , 2021 , with a 1 for 4 consolidation of outstanding units . On February 19 , 2021 , went firm on an agreement to acquire six industrial properties in London , Ontario , for $ 103.5MM . Acquired two industrial properties in Edmonton , Alberta for $ 14MM , on March 1 , 2021 . Closed a $ 34.9MM bought deal equity offering on March 4 , 2021 with 4,255,000 REIT Units issued , including 555,000 Units issued as part of a fully exercised overallotment . Management of the REIT will host a conference call on Thursday March 18th at 1PM EST to review results and operations . " As mentioned last quarter , we've focused on maintaining liquidity and a strong balance sheet in response to the economic and other uncertainty which COVID - 19 created . " commented Kelly Hanczyk , the REIT's Chief Executive Officer . " As vaccine roll out has commenced and economic recovery seems closer , we have shifted focus to deploying our capital to make thoughtful acquisitions . We are focusing our growth on industrial assets , and we completed just over $ 64 million of industrial acquisitions since Q3 2020 , and we expect to close on the previously announced $ 103.5 million acquisition of six industrial properties in London , Ontario on April 1st , a portfolio where we expect to see significant upside . Our acquisition pipeline is strong , and we are evaluating numerous industrial acquisitions where we may deploy the proceeds of our recently completely $ 34.9 million bought deal equity financing . We believe that our recent graduation to the TSX concurrent with a 1 for 4 unit consolidation , additional 1