Skyline Apartment REIT Announces First Acquisition of 2012!

April 16, 2012 - Press Release

To kick-off the spring season and the second quarter of 2012, we are excited to announce a new addition to the portfolio.

This new acquisition is Skyline Apartment REIT’s first purchase in 2012. Located at 3915 Portage Road in Niagara Falls, Ontario, this property comprises 57 apartment units and is located within the same neighbourhood as one of the portfolio’s existing buildings. The addition of a second building in this area will further strengthen Skyline Apartment REIT’s presence in this city and allow for further economies of scale and provide local staff, including the buildings’ Resident Managers, the option of referring overflow rentals to another Skyline property in the area.

This new acquisition is a great example of an opportunity where we got to work with a non-institutional vendor to purchase a well-run and well-maintained mid-rise building in the city of Niagara Falls where we already own real estate on this exact same street. Synergies and economies of scale will benefit our existing property and serve to enhance the performance of this new solid acquisition.” ~ Jason Castellan, CEO, Skyline Apartment REIT

[apt_about_reit]

For media inquiries, please contact:

Jeff Stirling
Director of Marketing, Skyline Group of Companies
5 Douglas Street, Suite 301
Guelph, ON N1H 2S8
(519) 826-0439(519) 826-0439 x 243

Related Articles:

2006 – Skyline Announces Creation of REIT

July 6, 2006

Skyline Incorporated of Guelph, ON announced the amalgamation...

Skyline Apartment REIT Acquires 3rd Property in North Bay, ON

November 4, 2020

Skyline Apartment REIT buys Gloria Gardens in North...

Skyline Apartment REIT Acquires Fourth Property of 2012

July 3, 2012

On the heels of three recent acquisitions in the second...

Disclaimer

The information provided on this website is for general information purposes only and is derived from sources that Skyline Apartment REIT believes are reliable. This website does not constitute an offer of, or solicitation for, the purchase and sale of any securities under any circumstances. Please read the confidential offering documents before investing, as they contain important information on fees and risk factor. Nothing herein should be construed as investment, legal, tax, regulatory or accounting advice.