Skyline Commercial REIT Acquires Second Property Within Two Weeks! » Skyline Group of Companies [Skip to Content]

Skyline Commercial REIT Acquires Second Property Within Two Weeks!

Posted On July 17, 2012

3600 Rhodes Drive, Windsor
3600 Rhodes Drive, Windsor, ON

The Skyline Commercial REIT added a second Windsor property to its portfolio this past week.  Located at 3600 Rhodes Drive, this property is made up of 56,995 square feet of office space and was purchased for $7.5 million.  Located just north of the Windsor Airport and between three highway interchanges, this property is well positioned within this prestigious Business Park that is geographically central to the entire Windsor area. 

This recent acquisition brings the Skyline Commercial REIT portfolio up to 5 properties, in 4 communities, totaling over 215,456 square feet of commercial space. 

With several opportunities in the marketplace, Skyline Commercial REIT is committed to the growth and success of its portfolio. In fact, the Acquisitions Team is currently conducting due diligence on a significant commercial portfolio valued at over $240 million. Management is very excited about this highly diversified and accretive portfolio of office and light-industrial properties. The portfolio will be acquired in two phases; the first phase will bring in over $120 million in real estate in the Toronto and GTA area and the second phase will consist of approximately $120 million in the Ottawa region. This portfolio will add approximately 60 new properties and nearly 400 additional tenants to the Skyline Commercial REIT, further adding to the REIT's size, stability and both geographic and demographic diversification.

The Skyline Commercial REIT will be raising $55million in investor equity to facilitate the closing of the first phase of this acquisition around September 30th and an additional $60million in investor equity to complete phase two of the deal in March of 2013. Some highlights of the Skyline Commercial REIT offering include:

  • $10 unit price
  • Targeted 9% annual distribution – paid monthly
  • 80 - 95% targeted payout ratio
  • Distributions are tax deferred to the extent possible
  • RRSP, RRIF and TFSA eligible
  • Portfolio diversification
  • Multi-tenant commercial – light industrial and office space assets

Please also note that the Skyline Commercial REIT is open to registered investments including; RRSPs, RRIFs and Tax Free Savings Accounts (TFSAs).

To obtain a copy of the new Skyline Commercial REIT confidential Offering Memorandum for phase one of this portfolio acquisition and to learn more about getting involved in this great investment opportunity, please contact the Skyline Wealth Management Inc. Investor Relations department directly at 1.888.977.REIT(7348) or via email.

This investment is available to Accredited Investors only or to those who are otherwise exempt.  Past performance is not an indicator of future performance.


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