[Guelph, Ontario – December 14, 2023]
On December 14, 2023, Skyline Apartment REIT purchased a property at 3554-A Ryder Hesjedal Way (Monarch Apartments) in Colwood, British Columbia (west of Victoria). The property comprises one five-storey building with 72 brand-new bachelor, one, and two-bedroom suites. It will be professionally managed by Skyline Living.
Monarch Apartments offers an on-site gym, an outdoor patio, underground parking, and a social lounge. Each suite features stainless steel appliances, in-suite laundry, and plenty of storage.
The total purchase price for the property was $34M.
“We are pleased to announce that Skyline Apartment REIT has entered the city of Colwood with the purchase of 3554-A Ryder Hesjedal Way,” said Matthew Organ, President, Skyline Apartment REIT.
“We are proud to offer Colwood residents great living spaces that are newly built and professionally managed.”
Post-acquisition, Skyline Apartment REIT comprises 243 properties in 59 communities in seven provinces across Canada, with a total of 21,684 residential units.
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 Management”), the preferred Exempt Market Dealer for the REIT. It is also available on Fundserv (Code: SKY2006).
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 Management, please visit SkylineWealth.ca.
Skyline Apartment REIT is operated and managed by Skyline Group of Companies.