[Guelph, Ontario – November 16, 2023]
On November 16, 2023, Skyline Apartment REIT purchased a property at 49 Queen Street East (Riverview) in Cambridge, Ontario.
The property comprises one 11-storey building with 153 residential units in total. It also includes 1,698 square feet of commercial space on the ground floor.
With this purchase, Skyline Apartment REIT now owns seven properties with 479 units in the city of Cambridge.
“Skyline Apartment REIT is proud to offer additional living spaces to Cambridge residents with the purchase of 49 Queen Street East in the historic Hespeler Village neighbourhood of Cambridge,” said Matthew Organ, President, Skyline Apartment REIT.
“We’re thrilled to be expanding our presence here while providing high-quality rental suites with sought-after features and amenities.”
Located on the Speed River, Riverview offers upscale condo-style units with high-end finishes, and amenities including a rooftop terrace, fitness room, and social room.
Post-acquisition, Skyline Apartment REIT comprises 243 properties in 59 communities in seven provinces across Canada, with a total of 22,052 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”), 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 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.