On January 30, 2020, the Skyline Retail REIT, a privately-owned and managed portfolio of retail properties across Canada, announced the acquisition of three properties: two located in Montreal, QC, and one located in the neighbouring city of Longueuil, QC.
| Property Address | Anchor Tenants | Total Square Footage | Purchase Price |
|---|---|---|---|
| 1220, 1300-1400 Saint-Jean Baptiste, Pointe-aux-Trembles (Montreal) | QCMetro, Tim Hortons, Jean Coutu | 115,810 | $19.5 million |
| 12285-12421 Boulevard Rodolphe-Forget, Montreal, QC | Sobeys, National Bank, Tim Hortons | 68,115 | $16.5 million |
| 2235-2261 Boulevard Roland-Therrien, Longueuil, QC | Scotiabank | 42,392 | $12.4 million |
“These properties represent very strong, resilient retail assets in urban Montreal, with strong growth profiles, both in the immediate and long term,” said Gordon Driedger, President, Skyline Retail Asset Management Inc.
“We believe the properties will be excellent additions to the Skyline Retail REIT’s growing footprint in the Greater Montreal Area.”
The Skyline Retail REIT has enjoyed a presence in the Montreal, QC area with four retail properties (not including the recent purchases). The Skyline Apartment REIT and Skyline Commercial REIT? are also established within the city, with one apartment property and four industrial properties, respectively.
Post-acquisition, the Skyline Retail REIT comprises 110 properties in 66 communities in five Canadian provinces, with a total of 4,501,872 square feet of retail space.
Introduced in 2013, the Skyline Retail REIT is fully managed and operated by the Skyline Group of Companies, a Guelph, ON-based real estate acquisition, management, and investment firm.