Skyline Apartment REIT Completes Sale in Ingersoll, ON
May 13, 2019 - Press Release
On May 13th, 2019, Skyline Apartment REIT completed a disposition transaction of 2 properties (7 buildings, total of 164 units) in Ingersoll, ON, to London-based private owner, York Property Management for $15.7 M. The properties had been acquired in February 2008 and were owned and managed by Skyline until the time of disposition.
The capital from the sale of 271 and 285 Thames Street North will be re-deployed by the Skyline Apartment REIT toward other accretive acquisitions and new-build properties in strong secondary and tertiary real estate markets that meet the standards and growth potential of the Skyline Apartment REIT.
“This multi-residential transaction was seamlessly completed thanks to the efforts of our team,” said Matthew Organ, President of Skyline Apartment Asset Management Inc. “We will continue to look for similar opportunities in our portfolio in order to surface value for our investors and create opportunities of growth potential into new attractive markets.”
Post-disposition, the Skyline Apartment REIT comprises of 199 properties in 55 communities across 8 provinces – ON, SK, NB, QC, AB, BC, NS, MB – with a total of 17,368 units and 655,178 square feet of commercial space.
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:
Vice President, Corporate Marketing & Communications, 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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