Skyline Apartment REIT Completes Sale of Ridgetown, ON Properties

October 11, 2019 - Press Release

On October 11th, 2019, Skyline Apartment REIT completed the sale of three properties in Ridgetown, ON, for $10.37 M. The properties are comprised of three buildings with a total of 109 suites.

The capital from the sale of these properties 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-property transaction was seamlessly completed thanks to the hard work of the teams on both sides of the deal,” said Matthew Organ, President of Skyline Apartment Asset Management Inc. “While our strategy has always been a buy and hold approach, we will continue to look for disposition opportunities across our portfolio that will surface value for our investors and create opportunities of growth potential into new attractive markets.”

Post-disposition, the Skyline Apartment REIT comprises of 203 properties in 56 communities across 8 provinces – ON, SK, NB, QC, AB, BC, NS, MB – with a total of 17,871 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:

Jeff Stirling
Director of Marketing, Skyline Group of Companies
5 Douglas Street, Suite 301
Guelph, ON N1H 2S8
(519) 826-0439(519) 826-0439 x 243

Related Articles:

Skyline Apartment REIT Completes Sale of Hamilton, ON Properties

September 6, 2017

On Wednesday, September 6th, 2017, the Skyline Apartment...

Skyline Apartment REIT Continues to Grow!

October 24, 2012

October 30, 2012 -  As promised, the Acquisitions...

Skyline CSO Featured in Article on Combined Heat & Power (CHP) Systems

March 1, 2016

Cogeneration Sparks Apartment Sector Interest View...

Disclaimer

The information provided on this website is for general information purposes only and is derived from sources that Skyline Apartment REIT believes are reliable. This website does not constitute an offer of, or solicitation for, the purchase and sale of any securities under any circumstances. Please read the confidential offering documents before investing, as they contain important information on fees and risk factor. Nothing herein should be construed as investment, legal, tax, regulatory or accounting advice.