Skyline Commercial REIT Sells Property in Cambridge, ON
July 13, 2020 - Press Release
On July 13, 2020, Skyline Commercial REIT, a privately-owned and managed portfolio of commercial properties across Canada, announced the sale of a flex office/retail complex at 221 Holiday Inn Drive in Cambridge, ON.
The complex totaled 19,060 square feet of commercial space. The total sale price for the property was $2.73M. The property was sold at a premium to its International Financial Reporting Standards (IFRS) value established in January 2020.
“Skyline Commercial REIT’s management team identified 221 Holiday Inn Drive as a non-core asset appropriate for disposition,” said Michael Mackenzie, President, Skyline Commercial REIT.
“We continue to seek new properties for the portfolio that are accretive to unit value, with a focus on light industrial real estate including logistics and warehousing.”
Post-disposition, Skyline Commercial REIT now comprises 87 properties in 34 communities in five provinces across Canada, with a total of 7.6 million square feet of commercial space.
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:
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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