HALIFAX, NS, Sept. 3, 2024 /CNW/ - (TSXV: NXLV) – NexLiving Communities Inc. ("NexLiving" or the "Company") is pleased to announce the closing of the previously announced acquisition (the "Transaction") by NexLiving of a portfolio of multi-family assets in eastern Ontario and Québec, consisting of 16 properties and 991 units, having an appraised value of $224 million as of October 2023 (the "Acquisition Portfolio"), from 8985979 Canada Inc. ("898") and Devcore Group Inc. ("Devcore" and collectively with 898, the "Sellers") in exchange for share consideration and the assumption of existing mortgages, pursuant to the purchase agreement dated January 21, 2024 (the "Purchase Agreement"). The Transaction was approved by the shareholders of the Company on April 3, 2024.
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