Skyline Industrial REIT has purchased two newly constructed assets in the Montreal area.

The REIT gained 100% ownership of both properties after acquiring all partner interests from a fund managed by its development partner Rosefellow Developments. (The fund is known as Rosefellow Fund 1.)

Together, the assets total 373,360 square feet of purpose-built industrial space.

One asset comprises a multi-tenant logistics centre and warehouse at 555 and 565 Avenue Victor Davis in Pointe Claire, Que. The 274,000-square-foot building is 100% leased to Steve Madden and Dormez-Vous (Sleep Country Canada.)

The development was a joint venture partnership project between Skyline and F.I.T. Ventures and Rosefellow. Construction was completed in late September.

The other acquisition comprises a single-tenant industrial logistics and warehousing facility located at 6100 Rue Notre-Dame Est (Notre Dame Street East) in Montreal. Completed in 2023, the building totals 98,954 sf and is leased to Proactive Supply Chain Group.

Following the acquisitions, Guelph, Ont.-based Skyline holds 51 properties comprising about 10 million sf in five provinces.