Skyline Apartment REIT Enters City of Kelowna, BC
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, BC.
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, ON-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”), 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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