Soneil Investments Completes $115 Million Office Acquisition
MARKHAM, ON, Feb. 3, 2021 /CNW/ - Soneil Investments has completed a $115 million acquisition of two office properties at 55 and 105 Commerce Valley Drive West in Markham, Ontario. The properties boast a combined size of over 375,000 square feet of class A office space in one of the Greater Toronto Area's premier business parks. The transaction involved a Scotiabank led syndication loan which also included The National Bank of Canada.
"We are extremely proud to add these properties to our portfolio, they are two of Toronto's highest quality office buildings and are leased by some of the world's largest technology companies. This is also an excellent example of Soneil's strategy to invest in assets with strong returns that also offer opportunities for upside in the future." says Neil Jain, President and CEO of Soneil Investments.
In recent years, Soneil has made significant investments in the suburban Toronto office market, targeting assets with significant vacancy and/or below-market rents to strategically add value. At the same time, the dramatic appreciation of the Toronto real estate market has enabled the company to maintain strong cash flow and reinvest into new growth opportunities such as development.
"This acquisition is a significant milestone for our organization" says Sach Jain, Chairman of Soneil Group of Companies, "both in terms of diversifying our portfolio and in continuing immense growth."
About Soneil Investments:
Soneil Investments is one of Canada's leading privately held real estate corporations with a portfolio of over $700 million. Soneil owns and manages approximately 2.5 million square feet of office, industrial, and retail space across the Greater Toronto Area. Founded in 1994 by entrepreneur Sach Jain, Soneil's core strategy lies in investing in assets with stable returns and uncovering opportunities to add significant value. The company continues to seek further opportunities to invest in real estate investments, developments, and joint-ventures.
Related Links
www.soneilinvestments.com
SOURCE Soneil Investments
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