On April 20, 2022, Skyline Apartment REIT acquired two properties located at 176 Vidal Street South (Riverside Towers) and 985 Maxwell Street (High Park Place) in Sarnia, Ontario. The total purchase price for the properties was $21 million.
The properties comprise 120 residential units in total. Both properties will be managed by Skyline Living.
“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 well-established in Sarnia and we’re pleased to be adding to the REIT’s holdings in the city. We’re proud to invest in many fantastic communities like these across Canada, providing high-quality rental suites with sought-after features and amenities.”
Post-acquisition, Skyline Apartment REIT comprises 242 properties in 60 communities in seven provinces across Canada, with a total of 21,767 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 more about Skyline Apartment REIT and other 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:
Vice President, Corporate Marketing & Communications, Skyline Group of Companies
5 Douglas Street, Suite 301
Guelph, ON N1H 2S8
(647) 250-1224 x 243