Nexus Industrial REIT (NXR.UN:CA) Q4 2025 Earnings Call Transcript

Operator

Thank you for standing by. This is the conference operator. Welcome to the Nexus Industrial REIT Fourth Quarter 2025 Results Conference Call. [Operator Instructions] The conference is being recorded. [Operator Instructions]

I would now like to turn the conference over to Kelly Hanczyk, Chief Executive Officer. Please go ahead.

Kelly Hanczyk
CEO & Trustee

I’d like to welcome everyone to the 2025 Fourth Quarter Results Conference Call for Nexus Industrial REIT. Joining me today is Mike Rawle, Chief Financial Officer of the REIT.

Before we begin, I’d like to caution with regard to forward-looking statements and non-GAAP measures. Certain statements made during the conference call may constitute forward-looking statements, which reflect the REIT’s current expectations and projections about future results. Also during this call, we’ll be discussing non-GAAP measures. Please refer to our MD&A and the REIT’s other securities filings, which can be found on our website and at sedar.com for cautions regarding forward-looking information and for information about non-GAAP measures.

I’m delighted to share that we are entering 2026 with good momentum and well-positioned growth. And despite challenging economic backdrop, 2025 was a very successful year for us. For the full year 2025, we delivered record net operating income of $129 million, and an increase of 2.8% compared to last year. We generated record adjusted EBITDA of $120 million and also grew our per unit metrics compared to last year. FFO per unit increased to $0.61 and our NAV grew to $13.22