[Guelph, ON – July 31, 2019]
On July 15th, 2019, Skyline Commercial REIT completed a disposition transaction of one property in Newmarket, ON, to Mamba Gorham Inc. for $10.45M. The office building at 1091 Gorham Street consists of 59,147 square feet of office space with mixed retail tenants on the ground level.
The property had been acquired in November 2012 and was owned and managed by Skyline until the time of disposition.
The capital from the sale of 1091 Gorham Street will be re-deployed by the Skyline Commercial REIT toward other accretive acquisitions in strong secondary and tertiary real estate markets that meet the standards and growth potential of the Skyline Commercial REIT.
Post-acquisition, the Skyline Commercial REIT has 86 properties in 36 cities across ON, QC, SK, MB, and AB, with over 6 million square feet of commercial space.
About the Skyline Commercial REIT
Skyline Commercial REIT is one of five private investment products under the Skyline Group of Companies, a national real estate investment, and property management organization. Skyline Commercial REIT is committed to providing the best in class commercial spaces to its tenants with the focus on delivering stable returns to its investors.
The Skyline Group of Companies currently manages approximately $4 billion in multi-residential and commercial real estate combined and has almost 1,000 employees across the country.
To learn more about the Skyline Group of Companies and Skyline Commercial REIT, please visit www.skylineonline.ca.
For media inquiries, please contact:
Communications Coordinator, Skyline Group of Companies
5 Douglas Street, Suite 301
Guelph, ON N1H 2S8
519.826.0439 x 261