Skyline Apartment REIT buys 2 Niagara Falls, ON Properties
September 17, 2021 - Press Release
[Guelph, ON – September 17, 2021]
On September 17, 2021, Skyline Apartment REIT purchased two neighbouring properties located in Niagara Falls, ON:
- 6521 Drummond Road (Victoria Park Towers), Niagara Falls, ON – 81 suites
- 6563 Drummond Road (Imperial Towers), Niagara Falls, ON – 95 suites
The total purchase price for the properties was $38.8M.
Victoria Park Towers at 6521 Drummond Road offers spacious and renovated 1 and 2-bedroom suites with open-concept design, large windows, and large glass balconies. Victoria Park Towers is located close to grocery stores, parks, restaurants, schools, shopping, and highway access.
Imperial Towers at 6563 Drummond Road offers spacious and renovated 1 and 2-bedroom suites with large windows and private glass balconies. The building also features a social room. Imperial Towers is located close to grocery stores, parks, restaurants, schools, shopping, and highway access.
“Skyline Apartment REIT is proud to offer additional living spaces to Niagara Falls residents with the purchase of Victoria Park Towers and Imperial Towers,” said Matthew Organ, President, Skyline Apartment REIT.
“Our first entry into the Niagara Falls market was back in 2008 with the purchase of Portage Place at 4613, 4615, 4617 & 4619 Portage Road. We received a great welcome to the city, and we’re thrilled to be further expanding our presence here while providing high-quality rental suites with sought-after features and amenities.”
With this purchase, Skyline Apartment REIT now owns seven properties in the city of Niagara Falls.
Each property will be managed by Skyline Living. Rental inquiries for the properties can be made at SkylineLiving.ca.
Post-acquisition, Skyline Apartment REIT comprises 240 properties in 61 communities in seven provinces across Canada, with a total of 21,462 suites.
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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