Skyline Industrial Real Estate Investment Trust (REIT) is introducing a new president along with a new name. Mike Bonneveld, formerly vice president and director of acquisitions with Skyline Asset Management Inc., has taken the helm at the former Skyline Commercial REIT as it rebrands to reflect its investment focus on the warehouse, distribution and logistics sector.

The privately managed alternative investment product is a subsidiary of Guelph, Ontario based Skyline Group of Companies and holds more than $1.2 billion in assets under management. That includes a portfolio of 55 industrial properties across Ontario, Quebec and the three prairie provinces and nearly 1.7 million square feet of new industrial space in development in six projects in the Montreal area.

“The REIT’s management team made the decision that its name should evolve to better reflect the portfolio,” explains Michael Mackenzie, a member of the REIT’s board of trustees and its president prior to Bonneveld’s appointment in mid-June. “It has been a pleasure leading the REIT’s performance for the past eight years, and I look forward to seeing the REIT continue its growth trajectory under Mike’s exceptional leadership.”

Bonneveld brings more than 28 years of experience in the Canadian real estate industry to his new role. He joined Skyline in 2009 and was previously responsible for sourcing all new acquisitions, dispositions, property due diligence, and closing investment transactions for Skyline Apartment REIT, Skyline Industrial REIT, Skyline Retail REIT, and SkyDev.

“I’m honoured to be stepping into the role of president of Skyline Industrial REIT,” he says. “The REIT is playing a key role in bringing new, purpose-built industrial stock to major Canadian markets that addresses the high demand for warehousing and distribution properties.”