On February 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 425 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 425 rue Sicard was $20.5M.
425 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 pleased to announce its first acquisition of 2021, with the purchase of 425 rue Sicard in Mascouche,” said Matthew Organ, President of Skyline Apartment REIT.
“Skyline Apartment REIT purchased the first phase of the Quartier 7 development, in August 2020, and we’re thrilled to be further expanding our holdings in Mascouche with this new purchase. The development is in a prime location in the city with transit nearby and offers excellent on-site amenities that were built with sustainability in mind.”
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 226 properties in 61 communities in eight provinces across Canada, with a total of 19,770 suites.