$1.2+ billion Canadian industrial REIT announces new name

Guelph, Ontario, Canada, June 15, 2022 (GLOBE NEWSWIRE) -- A $1.2+ billion* industrial Real Estate Investment Trust (REIT) based in Guelph, Ontario has undergone a name change to reflect the evolution of its portfolio composition and, more specifically, its increased weighting in the warehousing, distribution, and logistics sector. 

Effective June 14, 2022, the REIT formerly known as Skyline Commercial REIT has been re-named Skyline Industrial REIT. 

The announcement was made at the REIT's 2021 Annual General Meeting that same day.  

"With the increased focus of the REIT on investment specifically in the warehousing, distribution, and logistics sector, the REIT's management team made the decision that its name should evolve to better reflect the portfolio," said Michael Mackenzie, former President, Skyline Industrial REIT. 

Mackenzie also informed the REIT's Unitholders that the REIT is welcoming a new leadership figure. 

Mike Bonneveld, previously Director of Acquisitions and Vice President of Skyline Asset Management Inc., will be stepping into the role of President, Skyline Industrial REIT, and will be responsible for the REIT's strategic growth and performance.  

With more than 25 years of experience in Canadian real estate, Mike has been with Skyline since 2009. In his time with Skyline, he has focused on the continued growth and expansion of Skyline's real estate investment portfolios through sourcing and facilitating quality acquisitions, and monitoring asset performance.  

"I'm honoured to be stepping into the role of President of Skyline Industrial REIT," said Bonneveld. "The REIT is playing a key role in bringing new, purpose-built industrial stock to major Canadian markets that addresses the high demand for warehousing and distribution properties. I am looking forward to leading the REIT on this trajectory in its goal to provide further value for its Unitholders." 

"Mike [Bonneveld] has many years of extensive experience with all aspects of Skyline Industrial REIT's operations and strategy," said Mackenzie. 

"It has been a pleasure leading the REIT's performance for the past eight years, and I look forward to seeing the REIT continue its growth trajectory under Mike's exceptional leadership." 

Mackenzie will remain active in overseeing the REIT's activity in a new role as a Trustee of the Skyline Industrial REIT.  

In accordance with a new chapter for the REIT, it also launched its new website at https://SkylineIndustrialREIT.ca. 

*Unaudited figure. As at March 31, 2022. 

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• Skyline Industrial REIT