Nexus REIT's Galeries Taschereau. (Photo: Nexus REIT)Nexus REIT's Galeries Taschereau. (Photo: Nexus REIT)

Nexus REIT has completed the acquisition of a property in Beamsville, Ontario for approximately CAD6.6 million (USD5.1 million).

The property comprises comprised of a food court and a gas station, and is currently tenanted by Tim Hortons, A&W, KFC, Dairy Queen, and Subway, among others.

The property’s purchase consideration has been satisfied via the issue of class B limited partnership units of a Nexus REIT subsidiary at the equivalent of CAD2.10 per REIT unit.

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By Ridzwan Rahmat

Ridzwan has been analysing REITs and business trusts since 2008, and personally manages a portfolio comprising mainly of SGX-listed REITs. He founded REITsWeek in 2013.