Skyline Apartment REIT Sells Lindsay, ON and Peterborough, ON Properties; Acquires Eight Properties in Niagara Region

June 16, 2014 - Press Release

On Monday, June 16th, 2014, Skyline Apartment REIT purchased an 8-property portfolio consisting of residential buildings in the cities of Niagara Falls, ON and St. Catharines, ON. The Skyline Apartment REIT already has several buildings in both cities. The total purchase price for the portfolio was $101 million.

Also on Monday, June 16th, 2014, Skyline Apartment REIT successfully sold its single Lindsay, ON, and three of its Peterborough, ON properties.

“The sale of three of the Apartment REIT’s Peterborough assets, and our sole Lindsay asset, a total of 418 units, was a record price for assets in these markets, and allowed us to acquire a significantly larger portfolio in the St. Catharines/ Niagara region, without the requirement to raise new equity from investors,” says Mike Bonneveld, Vice President, Skyline Asset Management Inc. “These two transactions resulted in a net increase of 412 residential units, and a material increase in portfolio revenues.  While the Peterborough and Lindsay properties were strong financial performers for the REIT, the overall financial benefits of the transactions, as well as the ability to enhance our Niagara Region holdings and be one of the dominant owners in that market, is very exciting.”

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. It is also available on Fundserv (Code: RBS2400).

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 about additional alternative investment products offered through Skyline Wealth, please visit

Skyline Apartment REIT is operated and managed by Skyline Group of Companies.

For media inquiries, please contact:

Jeff Stirling
Vice President, Corporate Marketing & Communications, Skyline Group of Companies
5 Douglas Street, Suite 301
Guelph, ON N1H 2S8
519.826.0439 x243

Related Articles:

Skyline Apartment REIT Makes Top 10 in Canadian Real Estate

May 31, 2020

Canadian Property Management magazine listed the REIT...

Skyline Apartment REIT Enters Nova Scotia with Dartmouth Purchase

April 26, 2018

On April 26, 2018, Skyline Apartment REIT finalized...

Skyline Apartment REIT enters Dieppe, NB with 3-building purchase

June 15, 2018

On June 15, 2018, Skyline Apartment REIT, a privately-owned...


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.