News
Edgefront REIT Stakeholders OK Merger With Nobel REIT
March 30, 2017
Edgefront REIT unitholders have voted overwhelmingly in support of a merger with Montreal-based Nobel REIT. The combined entity — 36 commercial properties nationwide, 2.1M SF GLA and $300M in asset value — will be named Nexus REIT. Calgary-based Edgefront in Q4 2016 had 3.1% growth in adjusted funds from operations over the same period in 2015, and 100% occupancy across its portfolio for the 16th straight quarter. CEO Kelly Hanczyk said the merger gives Edgefront significantly larger scale and increased diversification, and a new partnership with RFA Capital will provide quality acquisition opportunities via a robust real estate pipeline.
