Soneil Investments has acquired a seven-building industrial real estate portfolio in the Greater Toronto Area (GTA) for about $100 million.

According to a published report, Great West Life Realty was the seller. The company has not commented on the deal.

Soneil said in a news release the portfolio was purchased from an institutional investor. The buildings are located at 6665-6725 Millcreek Drive in Mississauga, Ont.. Together, they comprise 325,000 square feet of rentable area spread across 20 acres of land.

“These assets represent our core focus – small-bay industrial buildings in a prime GTA location, featuring clear heights of over 20 feet and configurations that cater to the shipping needs of a diverse range of tenants, from small businesses to large corporations,” said Neil Jain, president and CEO of Brampton, Ont.,-based Soneil. “They provide an ideal balance of strong in-place cash flow while offering opportunities for long-term value enhancement.”

The acquisition is Soneil’s second completed transaction in 2024, with both deals financed by the Royal Bank of Canada. Soneil remains optimistic about the Toronto real estate market and plans to build on this momentum with an aggressive acquisition strategy heading into 2025 as market conditions are expected to improve.

Sach Jain, founder and chairman of Soneil Group of Companies, said that 2024 “has proven to be one of the most challenging years in recent memory for completing transactions, due to significant shifts in the economic and political landscapes of Canada and the U.S.”

“As someone who’s been investing in real estate for nearly 40 years and navigated various market cycles, I’m proud to see our team take these headwinds into account while still maintaining our long-term growth vision,” he said.

Soneil Investments is one of Canada’s leading private real estate corporations, managing a portfolio of more than five million sf. The company specializes in industrial, office, and retail spaces across the GTA, with a strategy centred on acquiring assets that deliver stable returns and uncovering opportunities for value creation.