January 11, 2013 – Skyline Commercial REIT made its first acquisition of 2013 on Wednesday, January 9th. The property, located at 425 Clair Road West in Guelph, had a $2.75 million purchase price, and is made up of 32,498 square feet of commercial space.
This new acquisition is Skyline Commercial REIT’s first commercial property in Guelph.
“425 Clair Road West is a well-maintained industrial property located in Guelph’s rapidly developing south-end industrial market,” says Mike Bonneveld, Director of Acquisitions at Skyline Asset Management, Inc. “The building is also well-positioned, just moments off the Hanlon Expressway, and is 100% leased to Viqua, a very strong and growing tenant. Skyline Commercial REIT is excited to acquire its first property in Guelph, Skyline Group of Companies’ home town, and looks forward to further expanding and enhancing its presence in this market.
Post-acquisition, Skyline Commercial REIT currently comprises 38 properties spread out across 10 Ontario communities, and approximately 1,702,492 square feet of commercial space. The total internally appraised IFRS value of Skyline Commercial REIT is approximately $146 million.
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 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.
For media inquiries, please contact:Jeff Stirling
Vice President, Corporate Marketing & Communications, Skyline Group of Companies
5 Douglas Street, Suite 301
Guelph, ON N1H 2S8