Nearctic Industrial REIT Closes Acquisition of Brier Business Centre
Calgary, Alberta – June 30, 2026Nearctic Industrial Real Estate Investment Trust (“Nearctic” or the “REIT”) is pleased to announce the closing of its previously announced acquisition of Brier Business Centre (“Brier”), a 98,801 square foot, 100% leased, modern multi-bay flex industrial property located at 9404 39 Avenue NW in Edmonton, Alberta. With the Brier acquisition, Nearctic REIT’s asset under management ("AUM") is near $100 million.
The acquisition, originally announced on May 4, 2026, was completed for a purchase price of $15.25 million. Brier is situated on approximately 5.9 acres in Strathcona Industrial Park and is leased to seven tenants across diversified tenant uses.
Brier delivers stable, contracted cash flows with embedded rent growth and market upside. The acquisition further expands the REIT’s presence in Edmonton and continues Nearctic’s strategy of consolidating stabilized, multi-tenant industrial assets in supply-constrained Canadian markets.
“Brier exemplifies the type of stabilized, multi-tenant industrial asset we are focused on acquiring across Canada,” said Sean McCullough, Chief Executive Officer of Nearctic Industrial REIT. “The property’s modern multi-bay flex configuration, combined with constrained new supply and strong tenant fundamentals, positions it to generate durable cash flows and long-term value for our unitholders.”
“This acquisition represents another important step in the continued growth of Nearctic Industrial REIT,” said Craig Shein, Vice President, Asset Management. “Brier is a well-located, fully leased asset in a market we know well, and it reflects our disciplined approach to adding properties that can strengthen the portfolio over time.”
The completion of the acquisition reflects the REIT’s continued focus on disciplined portfolio growth and active asset management. Nearctic remains focused on acquiring high-quality, stabilized industrial assets in strong Canadian markets that can support durable income and long-term value creation for investors.
“We are pleased to complete this acquisition as we continue to build momentum across Nearctic,” said James Jung, President of Nearctic Industrial REIT. “Brier aligns well with our modern shallow bay and multi-tenant industrial strategy, further strengthens our Edmonton portfolio, and brings Nearctic REIT’s AUM near $100 million.”
Nearctic would like to thank the vendor, along with its transaction advisors at CBRE, its lender CMLS, and its counsel at MLT Aikins LLP for their professionalism and execution in bringing this transaction to close.
About Nearctic Industrial Real Estate Investment Trust
Nearctic Industrial Real Estate Investment Trust is a Canadian multi-tenant industrial REIT focused on acquiring and operating high-quality, stabilized flex industrial properties across major Canadian markets. The REIT targets well-capitalized assets with durable tenant demand, supply constraints, and long-term value creation potential.
For more information, visit www.nireit.com.
Forward-Looking Information
This press release contains forward-looking information, including statements regarding the expected benefits of the completed acquisition, Nearctic’s growth strategy, portfolio performance, income stability, cash flow generation, embedded rent growth, market upside, AUM growth, and long-term value creation. Forward-looking information is based on current expectations and assumptions and is subject to risks and uncertainties that may cause actual results to differ materially from those expressed or implied. There can be no assurance that the anticipated benefits of the acquisition will be realized. Nearctic undertakes no obligation to update forward-looking information except as required by applicable law.