[Guelph, ON – September 11, 2019]
On September 11, 2019, Skyline Apartment REIT, a privately-owned and managed portfolio of multi-residential properties across Canada, announced the acquisition of The Enclave and Meaford Heights, two multi-residential properties in Langford, BC, for a combined price of $57.0 million. Both properties are mid-rise apartment buildings with The Enclave consisting of 81 units and Meaford Heights having 106 units. These acquisitions mark the REIT’s first entrance into Langford, BC.
“We are excited to bring the Skyline Living experience to the Langford, BC community,” commented Matthew Organ, President of Skyline Apartment REIT. “With each acquisition, we strive to not only provide tenants with quality homes but also a community that they can participate in and be proud of. Our staff looks forward to working with tenants and other members of the community to enable Skyline Living to have a positive impact on this great community.”
Both of these properties are professionally managed buildings offering a variety of bright, spacious suites complete with luxury finishes and are close to shopping. As part of the Skyline Living community, the Resident Manager for each building will plan regular social events and charitable activities to help the tenants of the buildings be active members of the Langford community.
Introduced in 2006, Skyline Apartment REIT is fully-managed and operated by the Skyline Group of Companies, a Guelph, ON-based real estate acquisitions, management, and investment firm.
Post-acquisition, the Skyline Apartment REIT comprises of 206 properties in 57 communities across 8 provinces – ON, SK, NB, QC, AB, BC, NS, MB – with 17,980 units and 655,178 square feet of commercial space.
Press releases are disseminated by Skyline Wealth Management Inc. ("Skyline Wealth") on behalf of the Issuer as at the date of publication and Skyline Wealth does not undertake to advise the reader of any changes. Skyline Wealth has not taken any steps to verify accuracy.