[Guelph, ON – June 16, 2021]
On June 16, 2021, Skyline Retail REIT sold a property at 1021 Avenue du Palais, Saint-Joseph-de-Beauce, QC. The property totals 49,628 square feet and was Skyline Retail REIT’s only property in the city of Saint-Joseph-de-Beauce, as well as the REIT’s only enclosed mall.
The total sale price for the property was $6.32M.
With this property sale, Skyline Retail REIT will be leaving the Saint-Joseph-de-Beauce market.
“1021 Avenue du Palais was identified in 2021 as appropriate for a strategic disposition,” said Gordon Driedger, President, Skyline Retail REIT.
“Over the past four years in Saint-Joseph-de-Beauce, Skyline Retail REIT has provided tenants with quality, high-traffic locations close to Highway 73 to facilitate their businesses. We will continue to evaluate the Skyline Retail REIT portfolio and identify any non-core assets, where we believe strategic dispositions can surface further value for our investors.”
Post-disposition, Skyline Retail REIT comprises 112 properties in 67 communities in five provinces across Canada, with a total of 4,713,636 square feet of retail space.
About Skyline Retail REIT
Skyline Retail REIT (the “REIT”) is a privately owned and managed portfolio of retail properties, focused on acquiring well-located properties with service-oriented, national brand tenants in secondary and tertiary communities across Canada.
Skyline Retail REIT is distributed as an alternative investment product through Skyline Wealth Management Inc. (“Skyline Wealth”), the exclusive Exempt Market Dealer for the REIT.
Skyline Retail REIT is committed to providing outstanding places to conduct business and services. It prioritises superior service to its retail 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 Retail REIT is operated and managed by Skyline Group of Companies.
For media inquiries, please contact:
Director of Marketing, Skyline Group of Companies
5 Douglas Street, Suite 301
Guelph, ON N1H 2S8
(519) 826-0439(519) 826-0439 x 243
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