Skyline Retail REIT Acquires 9-Property Western Canada Portfolio
October 24, 2018 - Property Acquisitions
On October 24, 2018, the Skyline Retail REIT, a privately-owned and managed portfolio of retail properties across Canada, announced the acquisition of a substantial 9-property portfolio of assets across Western Canada.
| Property Address | Notable Tenant Service Types | Total Square Footage | Purchase Price |
|---|---|---|---|
| 1131 Lawson Avenue, Kelowna, BC | Grocery; Pharmacy | 32,532 | $10.4M |
| 2211 Pembina Highway, Winnipeg, MB | Grocery; Pharmacy | 15,780 | $6.3M |
| 6660 Sooke Road, Sooke, BC | Grocery; Pharmacy; Medical; Liquor; Restaurant; Dollar Store | 68,809 | $19.25M |
| 9910-9940 92nd Street, Grande Prairie, AB | Pharmacy; Bank; Liquor; Fitness; Restaurant | 43,017 | $15.9M |
| 13010-137th Avenue NW, Edmonton, AB | Pharmacy; Auto | 23,200 | $3.8M |
| 100-420 Manning Cross NW, Edmonton, AB | Bank; Restaurant; Daycare; Dental; Medical; Fitness; Pharmacy | 64,555 | $22.7M |
| 139 Victoria Avenue East, Brandon, MB | Pharmacy | 16,986 | $4.55M |
| 382 & 390 Main Street, Steinbach, MB | Pharmacy; Medical; Insurance | 20,956 | $6M |
| 777 Sherbrook Street, Winnipeg, MB | Pharmacy | 16,839 | $5.8M |
Together, the portfolio comprises 302,674 square feet of retail space. The total purchase price was $94.7M. These properties are the Skyline Retail REIT’s first purchases in the provinces of BC, MB, and AB.
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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