[Guelph, Ontario – March 14, 2022]
On March 14, 2022, Skyline Commercial REIT sold a multi-tenant retail property at 815 & 825 Weber Street East and 1770 King Street East in Kitchener, Ontario.
The property totals 27,411 square feet on 1.58 acres. The total sale price for the property was $7.3million.
“Skyline Commercial REIT management identified this asset as appropriate for disposition due to the REIT’s current trajectory of increasing its weighting in the warehousing, distribution, and logistics sector,” said Michael Mackenzie, President, Skyline Commercial REIT.
“The capital from this sale will be used toward opportunities within the REIT’s target sector involving modern industrial facilities, including strategic acquisitions and developments. We believe this strategy can be accretive to unit value, which can ultimately create further value for Skyline Commercial REIT investors.”
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