Skyline Commercial REIT, a privately owned and managed portfolio of industrial properties across Canada, kicked off 2022 with a significant portfolio disposition.
On January 21, 2022, the REIT sold a portfolio of four industrial properties for $80,125,000 located in Dorval and Lachine, suburbs of Montreal, QC, which was brokered by RBC Capital Markets Real Estate Group Inc.:
- 2945 Avenue André, Dorval, QC
- 3145-3185 Joseph-Dubreuil Street, Lachine, QC
- 1625 32e Avenue, Lachine, QC
- 1795 32e Avenue, Lachine, QC
The portfolio totals 402,709 square feet of small-bay, multi-tenant industrial space.
“Skyline Commercial REIT remains active in refining its portfolio to increase its weighting in the warehousing, distribution, and logistics sector—this portfolio sale aligns with that strategy,” said Michael Mackenzie, President, Skyline Commercial REIT.
“The proceeds from this sale will be redeployed toward our existing development pipeline and anticipated acquisitions involving modern, state-of-the-art warehousing and logistics facilities. Skyline Commercial REIT continues to identify opportunities that we believe can surface further value for its investors through stable and growing distributions.”
The portfolio was sold to KingSett Real Estate Growth LP No. 7 and Candev Immobilia Inc.