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:
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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