Soneil Investments Continues Momentum in 2023 with $200M GTA Acquisitions
TORONTO, April 26, 2023 /CNW/ - Soneil Investments has continued its strong momentum with the purchase of four Greater Toronto Area assets for $200 million. The four properties, acquired independently, include three flex buildings at 60, 75, 80 Courtneypark Dr. W. in Mississauga, two industrial buildings at 750-760 Birchmount Rd. in Toronto, an office building at 125 Commerce Valley Dr. W. in Markham, and a portfolio of thirteen industrial buildings at Dixie Rd. and Crestlawn Dr. in Mississauga. The last two properties are strategically located directly adjacent to existing Soneil properties. Cumulatively, the assets contain over 700,000 square feet across 37 acres.
"The fascinating aspect of these acquisitions is that they all fit a different strategic profile," says Neil Jain, President and CEO of Soneil Investments. "Whether it be upside on in-place industrial rents, deliberate location adjacent to our existing properties, or high yields with future development potential along transit, we saw something unique in each asset. Our structure allows us to view assets from a variety of lenses and target anything we see value in."
The transactions, primarily financed by Royal Bank of Canada, continue an aggressive expansion strategy for Soneil during a time when transaction volumes have slowed substantially due to uncertainty in the economic environment.
"We buy and hold assets, and that strategy has also been successful for us because we can withstand the volatility of the market," added Sach Jain, Founder and Chairman of Soneil Group of Companies. "In an expanding city like Toronto, assets will continue to appreciate if you can hold them long-term."
Soneil Investments is one of Canada's leading private real estate corporations with a portfolio of over five 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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SOURCE Soneil Investments
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