On July 15, 2021, Skyline Commercial REIT sold a property at 5 Cochran Drive, Ayr, Ontario. The property totals 44,527 square feet and was Skyline Commercial REIT’s only property in the community of Ayr.
With this property sale, Skyline Commercial REIT will be leaving the Ayr market.
“Skyline Commercial REIT’s management team identified 5 Cochran Drive as a non-core asset appropriate for disposition,” said Michael Mackenzie, President, Skyline Commercial REIT.
“The capital from this sale will be redirected toward new opportunities that align with our strategy of acquiring primarily newer product in the warehousing, distribution, and logistics sector. Skyline Commercial REIT will continue to refine the portfolio to hold an increased weighting in this sector, and thus create value for investors by aiming to provide stable and growing cash distributions.”