Skyline Apartment REIT sells Regina, Saskatchewan property - Skyline Wealth

Skyline Apartment REIT sells Regina, Saskatchewan property

[Guelph, ON – July 30, 2021]

On July 30, 2021, Skyline Apartment REIT sold a property at 1920 College Avenue, Regina, SK. The property totaled 153,241 square feet of commercial office space and was tenanted by The Cooperators.

The total sale price for the property was $28.25M.

“The property was originally purchased by Skyline Apartment REIT in 2008 as part of a six-property portfolio of commercial office properties tenanted by The Cooperators,” said Matthew Organ, President, Skyline Apartment REIT.

“1920 College Avenue was identified in 2020 as a non-core asset that was appropriate for a strategic disposition. Skyline Apartment REIT will continue to focus on multi-residential assets.”

1920 College Avenue was sold at a premium to its International Financial Reporting Standards (IFRS) value established in January 2021. Funds surfaced from the property’s sale will be used toward accretive property acquisitions with the goal of creating maximum value for Skyline Apartment REIT unitholders.

Post-disposition, Skyline Apartment REIT comprises 235 properties (a remaining four of which are comprised 100% of commercial space) in 60 communities in seven provinces across Canada, with a total of 20,527 suites.

About Skyline Apartment REIT

Skyline Apartment REIT (the “REIT”) is a privately owned and managed portfolio of primarily multi-residential properties, focused on acquiring both established and newly developed properties in secondary and tertiary communities across Canada.

Skyline Apartment REIT is distributed as an alternative investment product through Skyline Wealth Management Inc. (“Skyline Wealth”), the exclusive Exempt Market Dealer for the REIT.

Skyline Apartment REIT is committed to providing best in class apartment suites and service to its residential tenants, while surfacing value with a goal to deliver stable returns to its investors.

To learn more about Skyline Apartment REIT, please visit SkylineApartmentREIT.ca.

To learn about additional alternative investment products offered through Skyline Wealth, please visit SkylineWealth.ca.

Skyline Apartment REIT is operated and managed by Skyline Group Of Companies.

For media inquiries, please contact:

Jeff Stirling
Director of Marketing
5 Douglas Street, Suite 301
Guelph, ON N1H 2S8
519.826.0439 x243

Disclaimer for SkylineWealth.ca:

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.

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.