A total of 20 industrial properties were sold in the markets earlier this week
Skyline Commercial has announced the completion of transactions involving 20 industrial properties across Ottawa and the Greater Toronto Area.
On Jan. 24, the real estate investment trust sold a portfolio of 18 small-bay industrial properties in Ottawa, Ontario. Totalling 692,613 square feet of industrial space, the aggregate sales value of the properties was $154.5 million.
This portfolio was sold to Woodbourne Capital Management and Epic Investment Services LP, Skyline said.
Read more: Morguard on the Canadian industrial market’s 2022 prospects
During the same day, Skyline Commercial closed a transaction involving two industrial properties in the GTA, representing a total of 207,689 square feet of industrial space and an aggregate sales price of $62.8 million. The GTA portfolio was sold to Pure Industrial.
Both transactions were brokered by CBRE, Skyline said.
“The capital from these sales will be redeployed toward our development pipeline of modern industrial assets and acquisitions involving primarily newer facilities,” said Michael Mackenzie, president of Skyline Commercial REIT. “As always, our ultimate goal remains to create further value for [our] investors through capitalizing on opportunities that are accretive to unit value.”
