Skyline Apartment REIT buys Niagara Falls & Sarnia portfolio

Skyline Apartment REIT buys Niagara Falls & Sarnia portfolio

On April 30, 2021, Skyline Apartment REIT purchased a five-property portfolio in Niagara Falls and Sarnia, ON.

  • 7030 Casey Street (Casey Street Apartments), Niagara Falls, ON
  • 131 Maxwell Street (Centennial Park Place), Sarnia, ON
  • 269 & 275 Finch Drive (Finchgate Apartments), Sarnia, ON
  • 351, 361 & 369 London Road (Governor House East & West), Sarnia, ON
  • 375 London Road, Sarnia, ON

The total purchase price for the portfolio was $80.4M. Together, the properties total 438 residential suites. The properties will be managed by Skyline Living.

The two days prior to the portfolio acquisition, Skyline Apartment REIT closed two additional acquisitions: another property in Sarnia, The Dorchester, located at 368 Exmouth Street, and Carrington View, located at 2200, 2210 & 2220 Majoros Road in West Kelowna, BC.

“We’re thrilled to close out a busy three consecutive days of acquisitions for Skyline Apartment REIT with this portfolio acquisition,” said Matthew Organ, President, Skyline Apartment REIT. “Niagara Falls and Sarnia are both communities in which Skyline Apartment REIT is familiar and well-established, and they are both great examples of the communities across Canada that the REIT is proud to invest in.”

Skyline Apartment REIT now comprises 234 properties in 61 communities in eight provinces across Canada, with a total of 20,427 suites.