Skyline Apartment REIT Sells Residential Property in Alberta
May 17, 2022 - Press Release
[Guelph, Ontario – May 17, 2022]
On May 17, 2022, Skyline Apartment REIT sold a property at 39 Van Slyke Way, Red Deer, Alberta. The property has four residential buildings with 232 units in total.
The total sale price was $39.2M.
“39 Van Slyke Way was identified in 2022 as a non-core asset that was appropriate for a strategic disposition,” said Matthew Organ, President, Skyline Apartment REIT.
“We thank Red Deer for having welcomed the Apartment REIT and allowing us to do great business in the community for years. We will continue to evaluate the Skyline Apartment REIT portfolio and identify any non-core assets, where strategic dispositions can surface further value for our investors.”
Post-disposition, Skyline Apartment REIT comprises 242 properties in 60 communities in seven provinces across Canada, with a total of 21,535 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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