Skyline Retail REIT Acquires 9-Property Western Canada Portfolio

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.

Details of the New Property Acquisitions
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.