Skyline Apartment REIT Enters British Columbia with Kelowna Purchase
May 3, 2018 - Press Release
On May 3, 2018, Skyline Apartment REIT finalized a deal to purchase 1979 Pandosy Street (“Malibu Apartments”) for $5.3M. The purchase of “Malibu Apartments” is Skyline Apartment REIT’s first acquisition in British Columbia.
“We are very excited to expand Skyline Living’s presence to include Kelowna, British Columbia,” commented Matthew Organ, President of Skyline Apartment REIT. “This acquisition allows us to bring our model of quality homes with a community focus to the residents of Kelowna, enabling us to have an impact on not only the tenants but the larger community as well.”
This professionally managed building is conveniently located near beautiful Lake Okanagan as well as the recently expanded Kelowna General Hospital. As part of the Skyline Living community, the Resident Manager of “Malibu Apartments” will plan regular social events and charitable activities to help the residents of the building be active members in the Kelowna community.
Post-acquisition, the Skyline Apartment REIT comprises 190 properties in 51 communities across 8 provinces – ON, SK, NB, NL, QC, AB, BC, NS – with 16,987 units and 661,195 square feet of commercial space.
1979 Pandosy Street, Kelowna, BC
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 SkylineWealth.ca.
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
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