Skyline Apartment REIT Acquires Kingston, ON and St. Thomas, ON Properties

August 25, 2016 - Press Release

On Thursday, August 25, the Skyline Apartment REIT acquired a 118-unit apartment community at 104 Confederation Drive in St. Thomas, ON. This property is the Apartment REIT’s second purchase in the city of St. Thomas, and was purchased for $11.8M. Skyline is now one of the city’s biggest landlords, operating approximately 14% of the apartments in St. Thomas.

“It’s exciting to be growing our presence in St. Thomas,” said Pam de Burgh-Thomas, Skyline Living Property Manager. “We are eager to expand in thriving, friendly communities like this one.”

Also included in the portfolio acquisition was a 35-unit property at 99 Thomas Street in Kingston, ON. The property was purchased for $2.6M, and is Skyline’s sixth purchase in that city.

Post-acquisition, the Skyline Apartment REIT comprises 181 properties in 48 Canadian communities, with 16,104 units.

Ten story apartment building in St Thomas, Ontario
104 Confederation Drive, St. Thomas, ON
99 Thomas Street, Kingston, ON
99 Thomas Street, Kingston, ON

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 exclusive 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 and other 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:

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

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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.