[Guelph, ON – March 16, 2022]
On March 16, 2022, Skyline Commercial REIT? purchased a newly developed property at 151 Avenue Reverchon in Pointe-Claire (Montreal), QC.
This state-of-the-art property is a single-tenant industrial warehouse comprising 326,125 square feet of industrial space on 12.25 acres.
This development was a joint venture project completed by RF Limited Partnership I. The partnership includes Skyline Commercial REIT?, Rosefellow, and F.I.T. Ventures. The development was completed in March 2022 and is 100% occupied on a long-term lease with Nespresso, a premium coffee brand that is a subsidiary of Nestlé, the world’s largest food and beverage corporation.
As of March 16, 2022, Skyline Commercial REIT? has acquired all partner interests and assumed ownership of the property.
This property is Skyline Commercial REIT?’s second in Pointe-Claire.
“Skyline Commercial REIT? is pleased to announce the first acquisition of an asset from the REIT’s current development pipeline in the Greater Montreal Area, and to welcome Nespresso as the development’s sole tenant,” said Michael Mackenzie, President, Skyline Commercial REIT?. “Over the past two years, we have worked alongside our development partners, Rosefellow and F.I.T. Ventures, to create a development pipeline of state-of-the-art industrial assets that are suited for strong global and national warehousing, distribution, and logistics tenants. We believe the choice of this property as Nespresso’s newest distribution centre in Canada highlights the quality of assets being produced within this pipeline. As always, our ultimate goal remains to provide stable and growing distributions to our investors—we will continue to capitalize on opportunities that are accretive to the REIT’s unit value.”
“ROSEFELLOW. would like to congratulate Skyline Commercial REIT? for the acquisition of this property,” said Mike Jager, Co-founder of Rosefellow. “It is a privilege to have worked on this project with Skyline Commercial REIT? and F.I.T. Ventures, of which Nespresso Canada is the anchor tenant. This partnership will continue to grow and achieve great success in the future. “
“F.I.T. Ventures is very proud of the completion of the Reverchon development and its ultimate sale to Skyline Commercial REIT?,” said Alexandre Leclerc, Partner at F.I.T. Ventures. “This was the first of many developments to be completed between Rosefellow, Skyline Commercial REIT?, and F.I.T. Ventures, and we believe that the partnership we have formed will continue to deliver state-of the-art assets in the future.”
About Skyline Commercial REIT?
Skyline Commercial REIT? (the “REIT”) is a privately owned and managed portfolio of commercial properties, focused on acquiring industrial and logistics-centred properties along major highway corridors and transportation routes in Canada.
Skyline Commercial REIT? is distributed as an alternative investment product through Skyline Wealth Management Inc. (“Skyline Wealth”), the preferred Exempt Market Dealer for the REIT.
Skyline Commercial REIT? is committed to providing outstanding places to do business and superior service to its tenants, while surfacing value with a goal to deliver stable returns to its investors.
To learn more about Skyline Commercial REIT?, please visit SkylineCommercialREIT.ca.
To learn about additional alternative investment products offered through Skyline Wealth, please visit SkylineWealth.ca.
Skyline Commercial REIT? is operated and managed by Skyline Group of Companies.
For media inquiries about Skyline Commercial REIT?, please contact:
Vice President, Corporate Marketing & Communications
5 Douglas Street, Suite 301
Guelph, ON N1H 2S8
Rosefellow was founded by two former competitors in Montreal’s growing real estate industry who later became friends and then business partners. The firm has grown into a leader in the city’s property management sector. Rosefellow designs, builds and manages residential, commercial and industrial properties that constantly push the boundaries of sustainable innovation. Their successes include Le Cent-Onze, a residential rental project located in Ville St-Laurent, which is expected to be delivered in the summer 2022, as well as numerous industrial buildings in the Montreal region and in Ontario.
About F.I.T. Ventures
F.I.T. Ventures is a family office investment firm located in Montreal, Quebec. The firm oversees and manages a variety of investments focusing on private equity, real estate and public equities. For more information, visit the F.I.T. Venture website: https://fitventures.com/