[Guelph, ON – July 13, 2020]
On July 13, 2020, Skyline Commercial REIT, a privately-owned and managed portfolio of commercial properties across Canada, announced the sale of a flex office/retail complex at 221 Holiday Inn Drive in Cambridge, ON.
The complex totaled 19,060 square feet of commercial space. The total sale price for the property was $2.73M. The property was sold at a premium to its International Financial Reporting Standards (IFRS) value established in January 2020.
“Skyline Commercial REIT’s management team identified 221 Holiday Inn Drive as a non-core asset appropriate for disposition,” said Michael Mackenzie, President, Skyline Commercial REIT.
“We continue to seek new properties for the portfolio that are accretive to unit value, with a focus on light industrial real estate including logistics and warehousing.”
Post-disposition, Skyline Commercial REIT now comprises 87 properties in 34 communities in five provinces across Canada, with a total of 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.