Skyline Apartment REIT sells Regina, Saskatchewan property

July 30, 2021 - Press Release

[Guelph, ON – July 30, 2021]

On July 30, 2021, Skyline Apartment REIT sold a property at 1920 College Avenue, Regina, SK. The property totaled 153,241 square feet of commercial office space and was tenanted by The Cooperators.

The total sale price for the property was $28.25M.

“The property was originally purchased by Skyline Apartment REIT in 2008 as part of a six-property portfolio of commercial office properties tenanted by The Cooperators,” said Matthew Organ, President, Skyline Apartment REIT.

“1920 College Avenue was identified in 2020 as a non-core asset that was appropriate for a strategic disposition. Skyline Apartment REIT will continue to focus on multi-residential assets.”

1920 College Avenue was sold at a premium to its International Financial Reporting Standards (IFRS) value established in January 2021. Funds surfaced from the property’s sale will be used toward accretive property acquisitions with the goal of creating maximum value for Skyline Apartment REIT unitholders.

Post-disposition, Skyline Apartment REIT comprises 235 properties (a remaining four of which are comprised 100% of commercial space) in 60 communities in seven provinces across Canada, with a total of 20,527 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 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, please visit SkylineApartmentREIT.ca.

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
Director of Marketing
5 Douglas Street, Suite 301
Guelph, ON N1H 2S8
519.826.0439 x243

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

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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.