Skyline Apartment REIT Sells 3 Properties in BC
February 23, 2022 - Press Release
[Guelph, Ontario – February 23, 2022]
On February 23, 2022, Skyline Apartment REIT sold a portfolio of three properties in BC:
- 2699 Peatt Road (The Enclave), Langford, BC
- 1803 31A Street (Summitview Heights), Vernon, BC
- 3400 Centennial Street (Rockwood Landing), Vernon, BC
The properties total 184 residential units. The total sale price for the portfolio was $63.7M.
The properties were originally purchased by Skyline Apartment REIT in 2019 & 2020.
“Although Skyline Apartment REIT typically maintains a buy-and-hold strategy, we regularly evaluate our property portfolio and identify any non-core assets, where strategic dispositions can surface further value for our investors,” said Matthew Organ, President, Skyline Apartment REIT.
“These properties in Langford and Vernon were identified in 2021 as appropriate for a strategic disposition. Funds surfaced from the properties’ sale will be used toward accretive property acquisitions to ensure maximum value for Skyline Apartment REIT unitholders.”
Post-disposition, Skyline Apartment REIT comprises 234 properties in 59 communities in seven provinces across Canada, with a total of 21,139 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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