On August 30, 2022, Skyline Apartment REIT acquired Merewood, a newly built residential property located at 411 & 423 Despard Avenue in Parksville, BC. The property consists of two four-storey residential buildings with 122 units. It will be professionally managed by Skyline Living.
The total purchase price for the property was $41M.
“We are pleased to announce that Skyline Apartment REIT has entered the city of Parksville with the purchase of 411 & 423 Despard Avenue,” said Matthew Organ, President, Skyline Apartment REIT.
“We are proud to offer Parksville residents great living spaces that are newly built and professionally managed.”
Post-acquisition, Skyline Apartment REIT comprises 246 properties in 61 communities in seven provinces across Canada, with a total of 22,035 residential units.
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 preferred 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 about additional 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, Ontario N1H 2S8