Skyline Commercial REIT Acquires Second Property Within Two Weeks!
July 17, 2012 - Press Release
Skyline Commercial REIT added a second Windsor property to its portfolio this past week. Located at 3600 Rhodes Drive, this property is made up of 56,995 square feet of office space and was purchased for $7.5 million. Located just north of the Windsor Airport and between three highway interchanges, this property is well positioned within this prestigious Business Park that is geographically central to the entire Windsor area.
This recent acquisition brings Skyline Commercial REIT portfolio up to 5 properties, in 4 communities, totaling over 215,456 square feet of commercial space.
With several opportunities in the marketplace, Skyline Commercial REIT is committed to the growth and success of its portfolio. In fact, the Acquisitions Team is currently conducting due diligence on a significant commercial portfolio valued at over $240 million. Management is very excited about this highly diversified and accretive portfolio of office and light-industrial properties. The portfolio will be acquired in two phases; the first phase will bring in over $120 million in real estate in the Toronto and GTA area and the second phase will consist of approximately $120 million in the Ottawa region. This portfolio will add approximately 60 new properties and nearly 400 additional tenants to Skyline Commercial REIT, further adding to the REIT’s size, stability and both geographic and demographic diversification.
Skyline Commercial REIT will be raising $55 million in investor equity to facilitate the closing of the first phase of this acquisition around September 30th and an additional $60 million in investor equity to complete phase two of the deal in March of 2013. Some highlights of Skyline Commercial REIT offering include:
- $10 unit price
- Targeted 9% annual distribution – paid monthly
- 80 – 95% targeted payout ratio
- Distributions are tax deferred to the extent possible
- RRSP, RRIF and TFSA eligible
- Portfolio diversification
- Multi-tenant commercial – light industrial and office space assets
Please also note that Skyline Commercial REIT is open to registered investments including; RRSPs, RRIFs and Tax Free Savings Accounts (TFSAs).
To obtain a copy of the new Skyline Commercial REIT confidential Offering Memorandum for phase one of this portfolio acquisition and to learn more about getting involved in this great investment opportunity, please contact the Skyline Wealth Management Inc. Investor Relations department directly at 1.888.977.REIT(7348) or via email.
This investment is available to Accredited Investors only or to those who are otherwise exempt. Past performance is not an indicator of future performance.
About Skyline Commercial REIT
Skyline Commercial REIT (the “REIT”) is a privately owned and managed portfolio of commercial properties, focused on acquiring industrial and logistics-centred properties along major highway corridors and transportation routes in Canada.
Skyline Commercial REIT is distributed as an alternative investment product through Skyline Wealth Management Inc. (“Skyline Wealth”), the exclusive Exempt Market Dealer for the REIT.
Skyline Commercial REIT is committed to providing outstanding places to do business and superior service to its 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 Commercial 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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