Guelph, Ontario, Canada, Jan. 25, 2022 (GLOBE NEWSWIRE) -- Skyline Commercial REIT, a privately owned and managed portfolio of industrial properties across Canada, completed two significant portfolio transactions in one day. Both transactions were brokered by CBRE.
On January 24, 2022, the REIT sold a portfolio of 18 small-bay industrial properties located in Ottawa, Ontario:
- 20 & 22 Gurdwara Avenue, Ottawa, Ontario
- 1257-1283 Algoma Road, Ottawa, Ontario
- 107 Colonnade Road, Ottawa, Ontario
- 111 Colonnade Road, Ottawa, Ontario
- 146 Colonnade Road, Ottawa, Ontario
- 148 Colonnade Road, Ottawa, Ontario
- 2413 & 2415 Stevenage Drive & 3210 Swansea Crescent, Ottawa, Ontario
- 740 Industrial Avenue, Ottawa, Ontario
- 1635-1647 & 1655 Russell Road, 770-790 Industrial Avenue, Ottawa, Ontario
- 1665 Russell Road & 800 Industrial Avenue, Ottawa, Ontario
- 1675-1685 Russell Road & 830 Industrial Avenue, Ottawa, Ontario
- 850 Industrial Avenue, Ottawa, Ontario
- 855 & 855r Industrial Avenue, Ottawa, Ontario
- 5300 Canotek Road, Ottawa, Ontario
- 5310 Canotek Road, Ottawa, Ontario
- 5380 Canotek Road, Ottawa, Ontario
- 5390 Canotek Road, Ottawa, Ontario
- 2280-2300 Stevenage Drive, Ottawa, Ontario
The portfolio totals 692,613 square feet of industrial space. The total sale price for the properties was $154.5M.
The portfolio was sold to Woodbourne Capital Management and Epic Investment Services LP.
In a separate transaction on January 24, 2022, Skyline Commercial REIT completed the disposition of two industrial properties in the Greater Toronto Area:
- 130-160 Bradwick Drive, Vaughan, Ontario
- 1655 Tricont Avenue, Whitby, Ontario
The two industrial properties total 207,689 square feet of industrial space with a total sale price of $62.8M.
The properties were sold to Pure Industrial.
"The capital from these sales will be redeployed toward our development pipeline of modern industrial assets and acquisitions involving primarily newer facilities,” said Michael Mackenzie, President, Skyline Commercial REIT.
“As always, our ultimate goal remains to create further value for Skyline Commercial REIT investors through capitalizing on opportunities that are accretive to unit value."
About Skyline Commercial REIT
Skyline Commercial REIT (the “REIT”) is a privately owned and managed portfolio of commercial properties, focused on acquiring industrial and logistics-centred properties along major highway corridors and transportation routes in Canada.
Skyline Commercial REIT is distributed as an alternative investment product through Skyline Wealth Management Inc. (“Skyline Wealth”), the preferred Exempt Market Dealer for the REIT.
Skyline Commercial 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 Commercial REIT, please visit SkylineCommercialREIT.ca.
To learn about additional alternative investment products offered through Skyline Wealth, please visit SkylineWealth.ca.
Skyline Commercial REIT is operated and managed by Skyline Group Of Companies.
About Woodbourne Capital Management
Woodbourne is a leading investor, operator and developer of apartments, seniors’ housing, student housing, self-storage and other niche real estate assets located predominantly in urban areas across Canada. Woodbourne invests on behalf of a broad base of institutional investors across the globe, including public and private pension funds, endowments, foundations, and funds of funds. Visit our website at woodbourneinvestments.com
About Epic Investment Services LP
Epic Investment Services, which includes its wholly owned subsidiary MDC Realty Advisors in the United States, is a fully integrated North American real estate platform. Headquartered in Toronto, Ontario, Canada, and operating from offices in Canada and the United States, Epic has over $17.5 billion in assets under management. Epic’s portfolio comprises over 30 million square feet of office, retail, industrial, and multi-family residential properties.
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