[Guelph, ON – July 16, 2020]
On July 16th, 2020, Skyline Apartment REIT announced the acquisition of a property in the city of Vernon, BC (north of Kelowna).
Creekview Heights is located at 1693, 1695, 1697 & 1699 Deleenheer Road in Vernon. The total purchase price for the property was $57M.
The property comprises 216 residential suites and has a mix of one and two-bedroom units. With this purchase, Skyline Apartment REIT now owns three apartment properties in the city of Vernon
Creekview Heights consists of modern luxury one and two-bedroom suites. The three-building complex is located in a residential neighbourhood northeast of downtown Vernon and is close to shopping centres, a hospital, grocery stores, banks, pharmacies, and Highway 97 connecting Vernon to Kamloops (northwest) and Kelowna (south).
Creekview Heights will be managed by Skyline Living. The property offers an on-site amenity building with a fitness centre and lounge. Each suite features in-suite laundry, stainless steel appliances, modern lighting and finishes, and a private balcony.
“We’re excited to be expanding our holdings in beautiful Vernon where we are now providing homes to more than 300 residents,” said Matthew Organ, President of Skyline Apartment REIT.
“We were welcomed to Vernon in March 2019 with the acquisition of Rockwood Landing (60 suites), and then Summitview Heights (43 suites) in December 2019. With the purchase of Creekview Heights, we’re proud to now be offering three distinct living spaces in the city, each offering luxury suite design and convenience with all amenities nearby.”
Rental inquiries for Creekview Heights can be made at CreekviewHeights.ca.
Post-acquisition, Skyline Apartment REIT comprises 214 properties in 58 communities in eight provinces across Canada, with a total of 19,077 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.