On March 3, 2022, Skyline Apartment REIT purchased a seven-property portfolio in Nova Scotia and Ontario:
- 200 Broad Street (The Two Hundred on Broad), Bedford, Nova Scotia
- 245 Innovation Drive (Symphony Suites), Bedford, Nova Scotia
- 89 Willow Road (Willow Road Apartments), Guelph, Ontario
- 25 Westwood Court (Broadway Apartments), Lindsay, Ontario
- 945 & 955 Huron Street (Gemini Towers), London, Ontario
- 909 Clonsilla Avenue (Delta Apartments), Peterborough, Ontario
- 325 Lakeview Drive (The Greens of Sally Creek), Woodstock, Ontario
The portfolio totals 674 residential units. The total purchase price for the portfolio was $190M.
“We’re thrilled to be making a sizeable addition to the Skyline Apartment REIT property portfolio with this multiple-property acquisition,” said Matthew Organ, President, Skyline Apartment REIT.
“The REIT is proud to be welcomed to the town of Bedford, Nova Scotia with this purchase, as well as welcomed back to the community of Lindsay, Ontario. We’re also pleased to be further investing in communities in which the REIT is already established: Guelph, London, Peterborough, and Woodstock, Ontario. We’re proud to invest in many fantastic communities like these across Canada, providing high-quality rental suites with sought-after features and amenities.”
The properties will be managed by Skyline Living.
Post-acquisition, Skyline Apartment REIT comprises 240 properties in 60 communities in seven provinces across Canada, with a total of 21,647 residential units.