$100M deal sees Brampton company buy seven properties in Mississauga

A Brampton-based private real estate corporation has purchased seven industrial properties on the same parcel of land in Mississauga’s north end for more than $100 million.

Soneil Investments successfully acquired the properties at 6665-6725 Millcreek Drive in Meadowvale in a single transaction from an institutional investor, the company said in a news release on Wednesday.

The properties contain 325,000 square feet of “rentable area on 20 acres of land,” Soneil said.

“These assets represent our core focus — small bay industrial buildings in a prime GTA location featuring clear heights of over 20 feet and configurations that cater to the shipping needs of a diverse range of tenants, from small businesses to large corporations,” said Soneil Investments president and CEO Neil Jain. “They provide an ideal balance of strong in-place cash flow while offering opportunities for long-term value enhancement.”

Company officials noted the acquisition marks the second completed transaction for Soneil this year. They added the company remains optimistic about Toronto’s real estate market potential, “with plans to leverage the momentum from this purchase to pursue an aggressive acquisition strategy into 2025.”

Sach Jain, founder and chair of Soneil Group of Companies, said 2024 was one of the most challenging years in recent memory for completing transactions due to significant shifts in the economic and political landscapes of Canada and the U.S.

“As someone who’s been investing in real estate for nearly 40 years and navigated various market cycles, I’m proud to see our team take these headwinds into account while still maintaining our long-term growth vision,” Sach Jain added.

Soneil Investments has a portfolio of over five million square feet, owning and managing industrial, office and retail space across the Greater Toronto Area.

The north Mississauga properties acquired by Soneil Investments (Photo: CNW Group/Soneil Investments)