|210 Lesmill Road, North York, ON. One of many GTA properties included in Skyline's "Phase One" acquisition.|
December 2012 - Business Venture Guelph
Skyline, Guelph's real estate investment, development and property management group, recently set a company record by purchasing a $120 million commercial portfolio for the Skyline Commercial REIT, just the first phase of a two-phased acquisition with a total price tag of approximately $242 million.
The Phase One purchase is comprised of properties throughout the GTA, including Barrie, Etobicoke, Vaughan, North York and Mississauga. The Phase Two purchase will be comprised of properties in the Ottawa area.
Founded in 1999, the Skyline Group of Companies comprises four primary entities: Skyline Management Inc., Skyline Asset Management Inc., Skyline Commercial Management Inc. and Skyline Wealth Management Inc. Together they exist to serve the Skyline Apartment REIT and Skyline Commercial REIT, also under the Skyline umbrella. Both the Skyline Apartment REIT and Skyline Commercial REIT are private alternative investments that are 100% Canadian owned and operated. The synergy between these entities is the secret to the company's continued success and impeccable track record of consistent and growing distributions to its REIT investors who have also never lost a single penny.
This is the largest portfolio acquisition in the company's over 13-year history and an exciting milestone for the small company from Guelph that currently holds over $1 billion in real estate among its two REITs - ranking Skyline among the top ten largest private owners and managers of real estate in the country.