[Guelph, Ontario – May 26, 2022]
On May 26, 2022, Skyline Apartment REIT acquired a new property at 6117 Uplands Drive (Uplands Terrace) in Nanaimo, British Columbia. The total purchase price for the property was $34.7 million.
The property is a new build (circa 2020-2022) and consists of one residential building with 108 units in total. The property will be managed by Skyline Living.
“Skyline Apartment REIT is proud to offer additional living spaces to Nanaimo residents with the purchase of 6117 Uplands Drive,” said Matthew Organ, President, Skyline Apartment REIT.
“Our first entry into the Nanaimo market was We received a great welcome to the city, and we’re thrilled to be expanding our presence here while providing high-quality rental suites with sought-after features and amenities.”
Rental inquiries for Uplands Terrace can be made at UplandsTerrace.ca.
Post-acquisition, Skyline Apartment REIT comprises 243 properties in 60 communities in seven provinces across Canada, with a total of 21,643 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.
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.
Vice President, Corporate Marketing & Communications, Skyline Group of Companies
5 Douglas Street, Suite 301
Guelph, Ontario N1H 2S8