On Wednesday, December 21st, 2016, Skyline Commercial REIT purchased a portfolio of 11 light industrial/storage properties spanning across the provinces of Alberta and Saskatchewan.
The portfolio consists of agricultural, construction, materials handling and transportation equipment dealerships John Deere and Peterbilt, which are operated by Cervus Equipment Corp. The total purchase price of the portfolio was $55.7M. The properties total approximately 350,000 square feet of commercial space.
“The Cervus Transaction is the first of its kind for Skyline Commercial REIT, as it represents the beginning of a growth partnership between the REIT and this well-established public entity,” says Michael Mackenzie, President, Skyline Commercial.
“Having concluded the initial transaction successfully, we can now look to further partner with Cervus Equipment in the development of their distribution network across Canada. As Canada’s largest distributor of John Deere equipment, we believe Cervus will be an active player with the REIT.”
“The Cervus portfolio represents the Commercial REIT’s first acquisitions west of Ontario, and includes assets in Regina, Saskatoon and Calgary.”
Newly-acquired Skyline Commercial REIT property at 292177 Crosspointe Road, Calgary, AB
Although Skyline owns several multi-residential acquisitions in Western Canada, these are Skyline’s first commercial properties in the Western provinces, with the exception of one commercial building in Regina, SK, a 2008 purchase by Skyline Apartment REIT that was part of a six-property Co-operators Group portfolio.
Post-acquisition, Skyline Commercial REIT comprises 81 properties in 30 communities across four provinces (AB, ON, QC, SK), with more than 5.1 million square feet of commercial space.
View article from Property Biz Canada: Skyline Commercial REIT Buying Cervus Portfolio
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