Skyline Retail REIT Acquires Hanover, Timmins, and Coniston Properties

On Monday, August 18, 2014, the Skyline Retail REIT acquired a plaza at 893-895 10th Street in Hanover, ON – the REIT’s second property in Hanover. The plaza had a purchase price of $9.5 million, and has over 25,000 square feet of commercial space, with the LCBO and Shoppers Drug Mart as tenants.

The following week, on Monday, August 25 2014, the Skyline Retail REIT acquired two properties: 414 Algonquin Boulevard East, in Timmins, ON, and 24 Amanda Street in Coniston (near Sudbury) ON. 24 Amanda Street is the Skyline Retail REIT’s first property in the community of Coniston.

The two properties had a combined purchase price of $6.65 million, and collectively have nearly 44,000 square feet of commercial space.

The Skyline Retail REIT currently comprises 31 properties in 19 Ontario communities, with an aggregate purchase price of $223 million and over 945,000 square feet of commercial space.