Skyline Commercial REIT has sold 24 industrial buildings in three separate deals occurring over just two business days. The vendor pockets $297.4 million and hands over 1.3 million square feet of space in the Montreal, Ottawa and Greater Toronto Area markets.

“The capital from these sales will be redeployed toward our development pipeline of modern industrial assets and acquisitions involving primarily newer facilities,” reports Michael Mackenzie, president of Skyline Commercial REIT.

The trio of transactions kicked off Friday, Jan. 21, with the $80-million sale of four small-bay, multi-tenant buildings in the Montreal suburbs of Dorval and Lachine. KingSett and Candev Immobilia are the new owners of the 403,000-square-foot portfolio.

Monday, Jan. 24 saw Woodbourne Capital Management and Epic Investment Services jointly acquire 692,600 feet of space in18 small-bay industrial properties in Ottawa. The deal came with a $154.5 million price tag. Also on Jan. 24, Pure Industrial acquired nearly 208,000 square feet in two industrial properties in Vaughan and Whitby for a total price of $62.8 million.

“Skyline Commercial REIT remains active in refining its portfolio to increase its weighting in the warehousing, distribution, and logistics sector⁠,” Mackenzie affirms. “As always, our ultimate goal remains to create further value for Skyline Commercial REIT investors through capitalizing on opportunities that are accretive to unit value.”