On September 2, 2022, Skyline Apartment Real Estate Investment Trust>REIT acquired a newly built residential property located at 455 rue Sicard, Mascouche, Quebec, part of the multi-phase Quartier 7 development. The property consists of one 10-storey residential building, totaling 106 luxurious condo-style one-bedroom, two-bedroom, and three-bedroom suites. It will be professionally managed by Gestion Danam Lecourse.
The total purchase price for the property was $34.4M.
The Quartier 7 development is 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 property 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 Real Estate Investment Trust>REIT is proud to be further establishing its presence in Mascouche with its fifth acquisition in the city,” said Matthew Organ, President, Skyline Apartment Real Estate Investment Trust>REIT.
“Our first Mascouche acquisition was 405 rue Sicard, the first phase of the Quartier 7 development, purchased in August 2020. The Real Estate Investment Trust>REIT has made several additional purchases within the Quartier 7 development since, and with the acquisition of 455 rue Sicard, we are proud to be providing even more living spaces to Mascouche residents.”
Post-acquisition, Skyline Apartment Real Estate Investment Trust>REIT comprises 247 properties in 61 communities in seven provinces across Canada, with a total of 21,141 residential units.
Rental inquiries for Quartier 7 can be made at Quartier7Mascouche.com.
About Skyline Apartment Real Estate Investment Trust>REIT
Skyline Apartment Real Estate Investment Trust>REIT (the “Real Estate Investment Trust>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 Real Estate Investment Trust>REIT is distributed as an alternative investment product through Skyline Wealth Management Inc. (“Skyline Wealth”), the preferred Exempt Market Dealer for the Real Estate Investment Trust>REIT.
Skyline Apartment Real Estate Investment Trust>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 Real Estate Investment Trust>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