[Guelph, ON – March 16, 2022]
On March 16, 2022, Skyline Commercial REIT purchased a newly developed property at 151 Avenue Reverchon in Pointe-Claire (Montreal), QC.
This state-of-the-art property is a single-tenant industrial warehouse comprising 326,125 square feet of industrial space on 12.25 acres.
This development was a joint venture project completed by RF Limited Partnership I. The partnership includes Skyline Commercial REIT, Rosefellow, and F.I.T. Ventures. The development was completed in March 2022 and is 100% occupied on a long-term lease with Nespresso, a premium coffee brand that is a subsidiary of Nestlé, the world’s largest food and beverage corporation.
As of March 16, 2022, Skyline Commercial REIT has acquired all partner interests and assumed ownership of the property.
This property is Skyline Commercial REIT’s second in Pointe-Claire.
“Skyline Commercial REIT is pleased to announce the first acquisition of an asset from the REIT’s current development pipeline in the Greater Montreal Area, and to welcome Nespresso as the development’s sole tenant,” said Michael Mackenzie, President, Skyline Commercial REIT. “Over the past two years, we have worked alongside our development partners, Rosefellow and F.I.T. Ventures, to create a development pipeline of state-of-the-art industrial assets that are suited for strong global and national warehousing, distribution, and logistics tenants. We believe the choice of this property as Nespresso’s newest distribution centre in Canada highlights the quality of assets being produced within this pipeline. As always, our ultimate goal remains to provide stable and growing distributions to our investors—we will continue to capitalize on opportunities that are accretive to the REIT’s unit value.”
“ROSEFELLOW. would like to congratulate Skyline Commercial REIT for the acquisition of this property,” said Mike Jager, Co-founder of Rosefellow. “It is a privilege to have worked on this project with Skyline Commercial REIT and F.I.T. Ventures, of which Nespresso Canada is the anchor tenant. This partnership will continue to grow and achieve great success in the future. ”
“F.I.T. Ventures is very proud of the completion of the Reverchon development and its ultimate sale to Skyline Commercial REIT,” said Alexandre Leclerc, Partner at F.I.T. Ventures. “This was the first of many developments to be completed between Rosefellow, Skyline Commercial REIT, and F.I.T. Ventures, and we believe that the partnership we have formed will continue to deliver state-of the-art assets in the future.”
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