Skyline Apartment REIT Enters City of Kelowna, British Columbia
September 17, 2018 - Press Release
On September 17, the Skyline Apartment REIT, a privately-owned and managed portfolio of multi-residential properties across Canada, announced the acquisition of Okanagan Place II, a three-building property at 1950, 1955 & 1960 Pacific Court in the city of Kelowna, British Columbia.
Okanagan Place II is the Skyline Apartment REIT’s first purchase in Kelowna, although earlier in September, it purchased the Carrington Ridge apartment complex in neighbouring West Kelowna.
Okanagan Place II comprises 108 suites and had a total purchase price of $16.6M.
Located in downtown Kelowna, the property is close to grocery stores, parks and trail, and public transit, with Kelowna General Hospital and Okanagan College just minutes away. Its amenities include a fitness centre and games room.
Introduced in 2006, the Skyline Apartment REIT is fully managed and operated by the Skyline Group of Companies, a Guelph, Ontario-based real estate acquisition, management, and investment firm.
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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