Guelph, Ontario, Canada, Sept. 21, 2022 (GLOBE NEWSWIRE) -- On September 20, 2022, Skyline Industrial REIT(1) bought out its development partners Rosefellow, F.I.T. Ventures, and Wellmount in a newly developed property at 8300 Place Marien & 11235 Metropolitain Boulevard East, Montreal-East, Quebec.
This state-of-the-art property is a two-building complex (one single-tenant building and one multi-tenant building) housing a total of four tenants. The property offers a total of 259,198 square feet of industrial space on 11.71 acres.
This development was a joint venture project completed by RF Industrial East Limited Partnership. The partnership includes Skyline Industrial REIT, Rosefellow, F.I.T. Ventures, and Wellmount.
The development was completed in July 2022 and is 100% occupied on long-term leases to Balcan Innovations Inc., J-F Breault Transport Inc., Messer Canada Inc., and Loyal Express.
As of September 20, 2022, Skyline Industrial REIT has acquired all partner interests and assumed ownership of the property.
This property is Skyline Industrial REIT’s second asset in Montreal-East.
“Skyline Industrial REIT is proud to announce the completion and acquisition of another development project in the greater Montreal area,” said Mike Bonneveld, President, Skyline Industrial REIT.
“We believe that the partnership among Rosefellow, Skyline Industrial REIT, and F.I.T. Ventures will continue to deliver state-of the-art facilities that meet the growing demand for purpose-built warehousing and logistics space.”
Post-acquisition, Skyline Industrial REIT comprises 58 properties in 33 communities in 5 provinces across Canada, with a total of 9,013,197 square feet of industrial space.
(1) Skyline Industrial REIT was previously Skyline Commercial REIT. As a result of the REIT's increasing focus on modern warehousing and logistics assets, the REIT updated its name to better reflect its portfolio composition and target sector, effective June 14, 2022).
About Skyline Industrial REIT
Skyline Industrial REIT (the “REIT”) is a privately owned and managed portfolio of industrial properties, focused on acquiring warehousing, distribution, and logistics-centred properties along major highway corridors and transportation routes in Canada.
Skyline Industrial REIT is distributed as an alternative investment product through Skyline Wealth Management Inc. (“Skyline Wealth”), the preferred Exempt Market Dealer for the REIT.
Skyline Industrial REIT is committed to providing outstanding places to do business and superior service to its tenants, while surfacing value with a goal to deliver stable returns to its investors.
To learn more about Skyline Industrial REIT, please visit SkylineIndustrialREIT.ca.
To learn about additional alternative investment products offered through Skyline Wealth, please visit SkylineWealth.ca.
Skyline Industrial REIT is operated and managed by Skyline Group Of Companies.
Attachment
