[Guelph, ON – March 4, 2020]
On March 3rd, 2020, Skyline Apartment REIT announced the acquisition of Lake Country Lofts, an apartment property in the district of Lake Country, BC. The total purchase price was $20 million.
The property comprises 71 suites and is Skyline Apartment REIT’s first purchase in the district of Lake Country, which is located between the city of Vernon to the north, and the city of Kelowna to the south.
Lake Country Lofts features spacious one and two-bedroom suites, with an on-site fitness room and underground parking. The property is surrounded by orchards and vineyards, and boasts a beautiful nearby lakeshore. With shopping and grocery amenities nearby, the location is also close to local Highway 97.
“We are pleased to announce that Skyline Apartment REIT has entered the district of Lake Country with the purchase of Lake Country Lofts,” said Matthew Organ, President of Skyline Apartment.
“Skyline Apartment REIT already enjoys a strong presence in the neighbouring cities of Vernon and Kelowna. We are proud to offer Lake Country residents these well-serviced accommodations, close to amenities and surrounded by one of the most beautiful landscapes Canada has to offer.”
Rental inquiries for Lake Country Lofts can be made at skylineliving.ca.
Post-acquisition, Skyline Apartment REIT comprises 210 properties in 58 communities in eight provinces across Canada, with a total of 18,407 suites.
Press releases are disseminated by Skyline Wealth Management Inc. (“Skyline Wealth”) on behalf of the Issuer as at the date of publication. Skyline Wealth does not undertake to advise the reader of any changes. Skyline Wealth has not taken any steps to verify accuracy. Some of the investment products offered by Skyline Wealth are from related issuers. A full list of issuers related to Skyline Wealth and details of the relationship between them is available upon request.