Soneil Investments Completes $46M Mississauga Industrial Acquisition
TORONTO, Aug. 8, 2022 /CNW Telbec/ - Soneil Investments has purchased a centrally located Mississauga industrial portfolio for $46 million. The properties are located at 1331 Crestlawn Dr., 1330 Eglinton Ave. E., and 4700, 4800, 4900 Dixie Rd., Mississauga, ON. The portfolio sits on 9 acres at a premier corner at Dixie-Eglinton and contains five buildings totaling nearly 140,000 square feet.
"In a high inflation and rising interest rate market, strategically acquiring properties becomes even more difficult," says Neil Jain, President and CEO of Soneil Investments. "We saw immense potential in the opportunity to fill vacancies, raise below market rents, and most importantly, capitalize on the location with a better use in the long-term."
The transaction comes on the heels of Soneil's $40 million acquisition of 2233 Argentia Rd. in Mississauga, a 150,000 square foot multi-tenanted office asset, located on 6 acres. The transactions mark acquisitions surpassing $180 million year-to-date for Soneil as the company continues to execute its expansion strategy.
"Both Dixie-Eglinton and Argentia have the same qualities that drew us to them – large pieces of land in great locations," says Sach Jain, Founder and Chairman of Soneil Group of Companies. "When the time comes for development, hopefully my grandchildren will say that we made the right calls!"
Soneil Investments is one of Canada's leading private real estate corporations with a portfolio of over four million square feet. Soneil owns and manages industrial, office, and retail space across the Greater Toronto Area. Their core strategy lies in investing in assets with stable returns and uncovering opportunities to extract significant value. Soneil continues to seek further opportunities to invest in real estate investments and developments.
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www.soneilinvestments.com
SOURCE Soneil Investments
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