On February 20, 2019, the Skyline Retail REIT, a privately-owned and managed portfolio of retail properties across Canada, announced the acquisition of two properties in the town of Gravenhurst, Ontario, with a total purchase price of $30M. The portfolio was acquired from RioCan Real Estate Investment Trust.
The two properties are located at 351-431 Talisman Drive, and 155 & 225 Edward Street in Gravenhurst. Together, the properties comprise 149,548 square feet of retail space. Notable anchor tenants include Canadian Tire, Sobeys, LCBO, and Dollarama.
The two-property portfolio is the Skyline Retail REIT’s first purchase in the town of Gravenhurst.
Introduced in 2013, the Skyline Retail REIT is fully managed and operated by the Skyline, a Guelph, Ontario-based real estate acquisition, management, and investment firm.