Mr. Kelly Hanczyk reports

NEXUS REIT ANNOUNCES RELEASE DATE FOR THIRD QUARTER RESULTS AND RESULTS CALL, OCTOBER 2020 DISTRIBUTION, UPDATES ON TSX GRADUATION AND ACQUISITION, AND ISSUANCE OF UNITS TO SETTLE DEBT

Nexus Real Estate Investment Trust intends to release its financial results for the quarter ended Sept. 30, 2020, before the opening of the TSX on Tuesday, Nov. 17, 2020.

Management of the REIT will host a conference call at 1 p.m. Eastern Standard Time on Tuesday, Nov. 17, 2020, to review the financial results and operations.

To participate in the conference call, please dial 416-915-3239 or 1-800-319-4610 (toll-free in Canada and the United States) at least five minutes prior to the start time and ask to join the Nexus REIT conference call.

A recording of the conference call will be available until Dec. 17, 2020. To access the recording, please dial 604-674-8052 or 1-855-669-9658 (toll-free in Canada and the U.S.) and enter access code 5401.

Toronto Stock Exchange graduation update

The REIT is working through its listing application with the TSX and expects to graduate shortly. Subject to exchange approval, the REIT plans to undertake a 1:4 unit consolidation at or around the time of graduation to the TSX.

October distribution

The REIT will make a cash distribution in the amount of 1.333 cents per unit, representing 16 cents per unit on an annualized basis, payable Nov. 13, 2020, to unitholders of record as of Oct. 30, 2020. Should the REIT complete its planned unit consolidation prior to the Oct. 30, 2020, record date, the distribution amount will be adjusted proportionately.

The REIT's distribution reinvestment plan (DRIP) entitles eligible unitholders to elect to receive all or a portion of the cash distributions of the REIT reinvested in units of the REIT. Eligible unitholders who so elect will receive a bonus distribution of units equal to 4 per cent of each distribution that was reinvested by them under the DRIP.

Insider participation in the DRIP is approximately 1.5 per cent of total participation for the October distribution payable on Nov. 13, 2020.

A total of 2,996,655 units have been issued under the DRIP since its inception in February, 2014.

Acquisition update

On Oct. 1, 2020, the REIT completed the acquisition announced on Aug. 24, 2020. The REIT acquired a single-tenant industrial property located in Rocky View county in Alberta, within the Calgary metropolitan region, for a contractual purchase price of $13.75-million at an attractive going-in capitalization rate of 6.8 per cent. The property has a gross leasable area (GLA) of 95,180 square feet on 10 acres of land and is fully occupied by a company that specializes in commercial building products. The contractual purchase price was partially satisfied through the issuance of 2.75 million Class B LP (limited partnership) units of a subsidiary limited partnership of the REIT at a deemed value of $2 per unit, which are convertible into REIT units on a 1:1 basis.

The REIT is also in advanced discussion with respect to the acquisition of a 50-per-cent interest in a Greater Toronto Area industrial property with approximately 500,000 square feet of GLA and has a strong pipeline of other potential acquisition opportunities.

Issuance of units to settle debt

On Oct. 1, 2020, the REIT issued 93,167 Class B LP units of Nexus Richmond LP, a subsidiary limited partnership of the REIT, to the vendor of the REIT's Richmond, B.C., property, in partial satisfaction of development management fees payable to the Richmond partner, pursuant to a development management agreement entered into between the REIT and the Richmond partner. The units were issued at a deemed value of $2.30 per unit, in settlement of $214,284 of development management fees.

About Nexus Real Estate Investment Trust

Nexus 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 73 properties comprising approximately 4.1 million square feet of rentable area. The REIT has approximately 109,508,000 units issued and outstanding. Additionally, there are Class B LP units of subsidiary limited partnerships of Nexus issued and outstanding, which are convertible into approximately 25,848,000 REIT units.

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