Skyline Retail REIT Sells Property in Brandon, MB

November 10, 2020 - Press Release

On November 10, 2020, Skyline Retail REIT, a privately-owned and managed portfolio of retail properties across Canada, announced the sale of a property located at 139 Victoria Avenue East, Brandon, MB.

The property comprises 16,986 square feet of retail space and is tenanted by Shoppers Drug Mart. The total sale price for the property was $6.5M.

Property Address Tenants Total Sq. Ft. Sale Price
139 Victoria Avenue East, Brandon, MB Shoppers Drug Mart 16,986 $6.5M

“139 Victoria Avenue East, Brandon, MB, was identified in 2019 as a non-core asset that was appropriate for a strategic disposition,” said Gordon Driedger, President, Skyline Retail REIT.

“The property was sold at a premium to its original purchase price, as well as its International Financial Reporting Standards (IFRS) value established in January 2020. Funds surfaced from the property’s sale will be used toward accretive property acquisitions to aid in maximizing value for unitholders.”

Post-disposition, Skyline Retail REIT comprises 108 properties in 65 communities in five provinces across Canada, with a total of 4,507,925 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:

Jeff Stirling
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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Disclaimer

The information provided on this website is for general information purposes only and is derived from sources that Skyline Retail REIT believes are reliable. This website does not constitute an offer of, or solicitation for, the purchase and sale of any securities under any circumstances. Please read the confidential offering documents before investing, as they contain important information on fees and risk factor. Nothing herein should be construed as investment, legal, tax, regulatory or accounting advice.