On July 15th, 2019, Skyline Commercial REIT completed a disposition transaction of one property in Newmarket, ON, to Mamba Gorham Inc. for $10.45M. The office building at 1091 Gorham Street consists of 59,147 square feet of office space with mixed retail tenants on the ground level.
The property had been acquired in November 2012 and was owned and managed by Skyline until the time of disposition.
The capital from the sale of 1091 Gorham Street will be re-deployed by the Skyline Commercial REIT toward other accretive acquisitions in strong secondary and tertiary real estate markets that meet the standards and growth potential of the Skyline Commercial REIT.
Post-acquisition, the Skyline Commercial REIT has 86 properties in 36 cities across ON, QC, SK, MB, and AB, with over 6 million square feet of commercial space.