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:
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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