[Guelph, ON – October 26, 2020]
On October 26, 2020, Skyline Commercial REIT sold a property at 1100 Gorham Street in Newmarket, Ontario.
Originally purchased by the REIT in November 2012 as part of a large GTA-area portfolio, the flex-industrial property totals 55,506 square feet and was Skyline Commercial REIT’s only property in the town of Newmarket.
With this property sale, Skyline Commercial REIT left Newmarket.
“1100 Gorham Street was identified in 2020 as appropriate for a strategic disposition,” said Michael Mackenzie, President, Skyline Commercial REIT.
“The capital from this sale will be redirected toward new opportunities with a focus on Class A assets1 in the logistics and warehousing sector. We will continue to evaluate the Skyline Commercial REIT portfolio and identify any non-core assets, where strategic dispositions can surface potential further value for our investors.”
1 BOMA Canada’s definition of a Class A building: https://bomacanada.ca/questions/what-is-a-class-a-building/
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 Management”), the exclusive 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 about additional alternative investment products offered through Skyline Wealth Management, please visit SkylineWealth.ca.
Skyline Commercial 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