Skyline Apartment REIT Acquires Kingston, Ontario and St. Thomas, Ontario 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, Ontario. 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, Ontario. 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.
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 Management”), 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, please visit SkylineApartmentREIT.ca.
To learn more about Skyline Apartment REIT and other alternative investment products offered through Skyline Wealth Management, please visit SkylineWealth.ca.
Skyline Apartment REIT is operated and managed by Skyline Group of Companies.
For media inquiries, please contact:
Cindy BeverlyVice President, Marketing & Communications
Skyline Group of Companies
5 Douglas Street, Suite 301
Guelph, Ontario N1H 2S8
cbeverly@skylinegrp.ca
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