[Guelph, ON – March 25, 2020]
On March 25th, 2020, Skyline Commercial REIT announced the acquisition of a four-property industrial portfolio in Calgary, AB. The total purchase price was $132 million.
|Property address||# of Buildings||# sq. ft.|
|10707, 10725, & 10761 25th St. NE, Calgary, AB||3||308,832|
|10710, 10720, 10760, & 10770 25th St. NE, Calgary, AB||4||483,374|
|85 & 89 Freeport Boulevard NE, Calgary, AB||2||207,664|
|7007 54th Street SE||2||177,332|
Collectively, the portfolio comprises 1,177,202 square feet of commercial space, and is 98% occupied.
Three of the properties (nine buildings) are located next to Calgary International Airport with convenient access to Deerfoot Trail, Calgary’s major north-south freeway. The property at 7007 54th Street SE (two buildings) is located near multiple industrial parks as well as 52nd Street, the major north-south thoroughfare serving Calgary’s south-central industrial areas. It is also close to CP Rail’s Intermodal facility.
“We are pleased to announce that Skyline Commercial REIT has purchased a portfolio of four Class-A industrial properties close to the airport in the city of Calgary,” said Michael Mackenzie, President of Skyline Commercial.
“These properties are all of modern design and are suitable for warehousing and logistics purposes relating to uses spanning the food and e-commerce sectors as well as broader distribution requirements. The properties are well-positioned with locations close to the Calgary airport and regional trans-modal hubs. Less than 1% of the current income of the portfolio is related to the oil and gas sector.
This purchase brings Skyline Commercial REIT’s assets in Calgary to a total of six properties and we are pleased to be further establishing our presence in Calgary, which is the fourth-largest industrial market in Canada.”
Post-acquisition, Skyline Commercial REIT comprises 88 properties in 34 communities in five provinces across Canada, with more than 7.6 million square feet of commercial space.
Press releases are disseminated by Skyline Wealth Management Inc. (“Skyline Wealth”) on behalf of the Issuer as at the date of publication. Skyline Wealth does not undertake to advise the reader of any changes. Skyline Wealth has not taken any steps to verify accuracy. Some of the investment products offered by Skyline Wealth are from related issuers. A full list of issuers related to Skyline Wealth and details of the relationship between them is available upon request.