[Guelph, Ontario – July 18, 2022]
On July 13, 2022, Skyline Retail REIT purchased a grocery-anchored retail property at 438 Norfolk St, Simcoe, ON, totaling 92,889 SF on 6.52 acres. The property comprises 14 tenants and is anchored by Sobeys, Dollarama, Beer Store, and Tim Hortons. The property is 97.3% occupied.
“We are pleased to bring this asset into the Skyline Retail REIT portfolio as it aligns with our long-standing strategy of acquiring grocery-anchored assets occupied primarily by essentials-based tenants,” said Gordon Driedger, President, Skyline Retail REIT.
“This property is anchored by Sobeys, Dollarama, and Tim Hortons and offers high visibility for tenants and great convenience for shoppers. This acquisition adds value and quality to the REIT’s portfolio and further supports the provision of stable and growing returns to our investors.”
Post-acquisition, Skyline Retail REIT comprises 113 properties in 68 communities in 5 provinces across Canada, with a total of 4,913,358 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 Management”), 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 Management, please visit SkylineWealth.ca.
Skyline Retail 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