Office Building at 649 Scottsdale Drive in Guelph, Ontario

Skyline Apartment REIT Sells Commercial Property in Guelph

On January 24, 2022, Skyline Apartment REIT sold a property at 649 Scottsdale Drive in Guelph, Ontario. The property totalled 81,531 square feet of commercial office space with The Cooperators as its largest tenant.

The total sale price for the property was $13.7M.

649 Scottsdale Drive was originally purchased by Skyline Apartment REIT in 2008 as part of a six-property portfolio of commercial office properties tenanted by The Cooperators.

“649 Scottsdale Drive was identified in 2021 as a non-core asset that was appropriate for a strategic disposition,” said Matthew Organ, President, Skyline Apartment REIT.

“We are proud to continue our presence in Guelph with 12 additional properties and 484 apartment suites,” said Organ.

“We will continue to evaluate the Skyline Apartment REIT portfolio and identify any non-core assets, where strategic dispositions can surface further value for our investors.”

Post-disposition, Skyline Apartment REIT comprises 237 properties in 59 communities in seven provinces across Canada, with a total of 21,323 suites.

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