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● NEXUS REIT ANNOUNCES Q3 2021 RESULTS Toronto , Ontario and Montreal , Quebec , November 12 , 2021 - Nexus Real Estate Investment Trust ( the " REIT " ) ( TSX : NXR.UN ) announced today its results for the quarter ended September 30 , 2021 . Highlights ● ● ● Z ● Nexus REIT Occupancy of 95 % at September 30 , 2021 , stable compared to June 30 , 2021 and increased from 93 % at September 30 , 2020 . Completed a total of $ 95.5MM of industrial property acquisitions during Q3 2021 . Completed a total of $ 285.9MM of industrial acquisitions in October and November to date and completed due diligence and waived conditions to acquire a Class A distribution centre in Alberta for $ 15.25MM USD . The REIT's acquisition pipeline continues to be very strong . Q3 2021 net operating income of $ 14,095,270 increased by $ 4,145,908 or 41.7 % as compared to Q3 2020 net operating income of $ 9,949,362 and by $ 1,875,365 or 15.4 % as compared to Q2 2021 net operating income of $ 12,219,905 . Q3 2021 same property NOI of $ 9,554,551 decreased by $ 206,940 or 2.1 % as compared Q3 2020. Q3 2021 YTD same property NOI decreased by $ 394,811 or 1.3 % as compared Q3 2020 YTD . The decrease is primarily attributable to an approximately 25,000 square foot industrial vacancy in Calgary , combined with an approximately 26,000 square foot office space that came back to the REIT on April 30th . The REIT continues to make progress on these vacancies with new leases which commenced July 1 , 2021 entered into for approximately 6,500 square feet of the office space . Successfully completed a $ 112MM bought deal financing on August 23 , 2021. Commenced deployment of funds to acquire industrial properties in October 2021 . Q3 2021 normalized FFO per unit of $ 0.191 , as compared to $ 0.185 for Q2 2021 and $ 0.218 for Q3 2020 . Q3 2021 normalized AFFO per unit of $ 0.174 , as compared to $ 0.166 for Q2 2021 and $ 0.192 for Q3 2020 . Q3 2021 normalized AFFO payout ratio of 95.9 % , as compared to 96.2 % for Q2 2021 and 82.4 % for Q3 2020 . Ended Q3 2021 with $ 63MM of cash , full availability of $ 45MM of credit facilities , and $ 63MM of unencumbered properties . Currently under contract or in negotiation to sell 5 office and retail properties for an aggregate sale price of $ 45.7MM . Book NAV per unit , including Class B LP Units , of $ 11.55 at September 30 , 2021 as compared to $ 11.21 at June 30 , 2021 and $ 9.83 at September 30 , 2020 . Management of the REIT will host a conference call on Monday November 15th at 1PM EST to review results and operations . " 2021 has been a fantastic year for Nexus . " commented Kelly Hanczyk , the REIT's Chief Executive Officer . " We have completed $ 543 million of industrial acquisitions to date and we have approximately $ 120 million of additional acquisitions we anticipate will close by the end of this year . On October 1st , we closed on a three - property portfolio of Class A distribution centres with Loblaws as the tenant . With high - quality acquisitions like these we continue to high grade our portfolio and increase the amount of highly desirable warehousing and distribution space we own . Our acquisition pipeline is strong and will ensure we get off to a great start next year . In the quarter , we began to see the positive impact on our results of deploying capital , with $ 95.5 million of properties acquired in the third quarter . We will see further contribution to our results from the anticipated completion of over $ 400 million of acquisitions in the fourth quarter . " 1