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.

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.

Introduced in 2013, the Skyline Retail REIT is fully managed and operated by the Skyline Group of Companies, a Guelph, ON-based real estate acquisition, management, and investment firm.

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