[Guelph, Ontario – April 20, 2022]
On April 20, 2022, Skyline Apartment REIT acquired two properties located at 176 Vidal Street South (Riverside Towers) and 985 Maxwell Street (High Park Place) in Sarnia, Ontario. The total purchase price for the properties was $21 million.
The properties comprise 120 residential units in total. Both properties will be managed by Skyline Living.
“We’re thrilled to be making a sizeable addition to the Skyline Apartment REIT property portfolio with this multiple-property acquisition,” said Matthew Organ, President, Skyline Apartment REIT. “The REIT is well-established in Sarnia and we’re pleased to be adding to the REIT’s holdings in the city. We’re proud to invest in many fantastic communities like these across Canada, providing high-quality rental suites with sought-after features and amenities.”
Post-acquisition, Skyline Apartment REIT comprises 242 properties in 60 communities in seven provinces across Canada, with a total of 21,767 suites.