On October 14, 2021, Skyline Commercial REIT? purchased a newly developed property at 261085 High Plains Boulevard in Rocky View County, AB.
The property is a single-tenant industrial warehouse with 150,000 square feet of commercial space on 16.15 acres. The building offers internal clear heights of 32 feet and is equipped with 22 shipping doors. It is currently tenanted by CHEP Canada Corp.
This development was a joint venture project between Skyline Commercial REIT? and Highfield Investment Group Inc. Construction began in June 2020 and was overseen by Skydevco Inc. (“SkyDev”). The development was completed in February 2021.
As of October 14, 2021, Skyline Commercial REIT? has acquired all partner interests and assumed ownership of the property.
“This transaction is representative of Skyline Commercial REIT?‘s strategy to both acquire and, where appropriate, develop best-in-class assets suitable for the warehousing, distribution, and logistics sector,” said Michael Mackenzie, President, Skyline Commercial REIT?.
“This transaction results from the execution by Skyline Commercial REIT? of its option to acquire our development partner’s interest at stabilization. I would like to thank Highfield Developments for their successful stewardship of this project and welcome CHEP Canada to our portfolio.”
This property is Skyline Commercial REIT?’s first in Rocky View County (a municipal district surrounding most of Calgary, AB).
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 Management”), the exclusive 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 Management, please visit SkylineWealthManagement.ca.
Skyline Commercial REIT? is operated and managed by Skyline Group Of Companies.
SkyDev is a real estate development and construction oversight firm based in Guelph, Ontario.
Providing its services to Skyline Group of Companies, as well as new partnership ventures, SkyDev aims to be the property developer of choice among its key stakeholders.
SkyDev is committed to creating meaningful value through its expertise in the development of sustainable multi-residential, office, and retail real estate across Canada.
To learn more about SkyDev, please visit SkyDev.ca.
SkyDev is part of Skyline Group of Companies.
Bethany Curtis
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