Skyline Commercial REIT sells 291,000+ square foot industrial portfolio in Cambridge, Ontario

Guelph, Ontario, Canada, Feb. 01, 2022 (GLOBE NEWSWIRE) -- Skyline Commercial REIT, a privately owned and managed portfolio of industrial properties across Canada, recently completed its fourth sizable transaction for 2022.

On January 31, 2022, the REIT sold a six-property portfolio in Cambridge, Ontario:

• 15 Sheldon Drive, Cambridge, Ontario
• 131 Sheldon Drive, Cambridge, Ontario
• 101 Sheldon Drive, Cambridge, Ontario
• 1177 Franklin Boulevard, Cambridge, Ontario
• 1195 Franklin Boulevard, Cambridge, Ontario
• 1425 Bishop Street North, Cambridge, Ontario

The properties total 291,019 square feet of industrial space. The transaction was brokered by JLL.

The total sale price for the properties was $58.2M. The portfolio was sold to KingSett Real Estate Growth LP No. 7.

"Skyline Commercial REIT management is pleased to announce this successful transaction with KingSett Capital," said Michael Mackenzie, President, Skyline Commercial REIT.

"The REIT maintains a strong presence in the city of Cambridge with three properties totaling 223,583 square feet of industrial 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 preferred 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 more about Skyline Commercial REIT, please visit SkylineCommercialREIT.ca.

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.

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• 101 Sheldon Drive, Cambridge, Ontario