[Guelph, ON – November 4, 2020]
On November 4, 2020, Skyline Apartment REIT announced its third property acquisition in the city of North Bay, ON.
Gloria Gardens is located at 2475 Trout Lake Road in North Bay. The total purchase price for the property was $6.22M.
The property comprises 70 residential suites and has a mix of one and two-bedroom units. It also has approximately 1,100 square feet of ground-floor retail space.
Gloria Gardens is located in the east part of the city, with all essential services conveniently nearby, including grocery stores, pharmacies, shopping, and restaurants. It is also minutes away from beaches along Lake Nipissing. The property features an on-site community room.
“Skyline Apartment REIT has been established in North Bay since 2011, and we’re pleased to be expanding our presence,” said Matthew Organ, President, Skyline Apartment REIT.
“North Bay is a waterfront city with many seasonal activities and a well-developed business community. With the purchase of Gloria Gardens, we’re now proudly offering 222 suites to call home in the area.”
Rental inquiries for Gloria Gardens can be made at SkylineLiving.ca.
Post-acquisition, Skyline Apartment REIT comprises 219 properties in 59 communities in eight provinces across Canada, with a total of 19,369 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. Commissions, trailing commissions, management fees and expenses all may be associated with investments in exempt market products. Please read the confidential offering documents before investing. 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.