On November 10, 2020, Skyline Retail REIT, a privately-owned and managed portfolio of retail properties across Canada, announced the sale of a property located at 139 Victoria Avenue East, Brandon, MB.
The property comprises 16,986 square feet of retail space and is tenanted by Shoppers Drug Mart. The total sale price for the property was $6.5M.
|Property Address||Tenants||Total Sq. Ft.||Sale Price|
|139 Victoria Avenue East, Brandon, MB||Shoppers Drug Mart||16,986||$6.5M|
“139 Victoria Avenue East, Brandon, MB, was identified in 2019 as a non-core asset that was appropriate for a strategic disposition,” said Gordon Driedger, President, Skyline Retail REIT.
“The property was sold at a premium to its original purchase price, as well as its International Financial Reporting Standards (IFRS) value established in January 2020. Funds surfaced from the property’s sale will be used toward accretive property acquisitions to aid in maximizing value for unitholders.”
Post-disposition, Skyline Retail REIT comprises 108 properties in 65 communities in five provinces across Canada, with a total of 4,507,925 square feet of retail space.