Skyline Industrial Real Estate Investment Trust (REIT) has acquired a portfolio of four Alberta business parks with nearly 130 acres of land in Edmonton and Calgary. The $309-million deal is the largest to date for the REIT, netting it 16 buildings with a 98 per cent occupancy rate, and provides it with a first entry to the Edmonton market.

This follows the REIT’s now completed disposition program to sharpen its focus on logistics, distribution and warehouse assets. With the close of the transaction, it boasts more than 8.7 million square feet of industrial space in 57 buildings across five provinces.

“This acquisition aligns with the REIT’s strategy and targeted asset format in terms of geography, clear height, tenant profile and flexibility,” affirms Mike Bonneveld, president of Skyline Industrial REIT. “The redeployment of the capital generated from the disposition strategy over the past 15 months has given us the opportunity to acquire these assets and enhance our portfolio to the utmost.”