On December 1, 2021, Skyline Apartment REIT purchased a new apartment property in the city of Mascouche, QC (a suburb located north of Montreal).
The property is located at 435 rue Sicard in Mascouche and consists of one building with 73 luxurious condo-style one-bedroom, two-bedroom, and three-bedroom suites. The building is part of a multi-phase development project, Quartier 7. The total purchase price for 435 rue Sicard was $21.7M.
435 rue Sicard is located in a residential neighbourhood across from the Mascouche train station, with all essential services nearby, such as grocery stores, cafes, and schools. It is also located near a landscaped park with bike paths and trails.
The larger Quartier 7 development offers an on-site fitness centre, multi-purpose room, games area, heated outdoor pools, furnished outdoor spaces, and EV charging stations. Each suite features in-suite laundry, stainless steel appliances, quartz countertops, and other modern finishes. They also feature large windows, walk-in closets, and a large balcony.
“Skyline Apartment REIT is proud to offer additional living spaces to Mascouche residents with the purchase of 435 rue Sicard, part of the Quartier 7 development,” said Matthew Organ, President, Skyline Apartment REIT.
“435 rue Sicard is the REIT’s fourth purchase in the city of Mascouche, and we’re pleased to be further expanding our presence in the city.”
Skyline Apartment REIT’s first entry into the Mascouche market was in August 2020 with the purchase of 405 rue Sicard, the first phase of the Quartier 7 development.
Quartier 7 will be managed by Gestion Danam Lacourse. Rental inquiries for Quartier 7 can be made at Quartier7Mascouche.com.
Post-acquisition, Skyline Apartment REIT comprises 241 properties in 61 communities in seven provinces across Canada, with a total of 21,535 suites.