NEXUS INVESTOR PRESENTATION
Value Creation - Richmond, BC
Overview
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Mixed-use asset (consisting of 2 buildings) in Richmond, BC
purchased for $57.4MM in April 2018.
Appraised at -$80MM (March 2018), and $120MM to
$136MM (Q3 2021) highlighting the significant inherent value
of the property; offering significant NAV growth.
Repurposing of the front building to a multi-tenant sports
facility announced March 12, 2020, with two new leases
signed at $33 and $34.25 psf net rent. This is expected to be
completed in July 2022 providing $165,000/month of NOI.
Additional value creation with ~74,000 sq ft of additional GLA
is currently being planned. Expected value creation of ~$16-
$20MM.
Redevelopment Value Creation Underway
Key Transaction Highlights
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2
Off-market transaction, sourced through Nexus'
long-standing relationship with the vendor
Attractive risk-return development profile, with
high inherent value in the property
Purchase Price
Acquisition Cap Rate
In-Place NOI
Development Investment
Post-Development NOI
Stabilized Cap Rate
Stabilized Property Value
NEXUS
INVESTOR PRESENTATION SEPTEMBER 2022
$57.4MM
6.50%
$3.1M M
$6.1MM
$5.1M M
4.00%
$128M M
Unitholder Value Created
-$32MM 1
1 Pursuant to a development management agreement which the REIT has
entered into, value creation will be split with the vendor of the property,
which has sourced the new tenants and is managing the development on
behalf of the REIT.
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