[Guelph, ON – April 29, 2021]
On April 29, 2021, Skyline Apartment REIT purchased a property in the city of West Kelowna, BC.
Carrington View is located at 2200, 2210 & 2220 Majoros Road and is comprised of three four-storey buildings with a total of 186 residential suites The total purchase price for the property was $54.05M.
The property is designated smoke-free and features an on-site amenity building, rooftop patio, on-site gym, and a rooftop solar array. Suite features include open-concept designs, private balconies, kitchen islands, in-suite laundry, luxury vinyl plank flooring, and quartz countertops.
Carrington View is located close to many amenities including grocery, restaurants, parks, and transit, with easy access to Highway 97 connecting West Kelowna to Kelowna (east) and Penticton (south).
“Skyline Apartment REIT is proud to offer additional luxurious living spaces to West Kelowna residents with the purchase of Carrington View,” said Matthew Organ, President, Skyline Apartment REIT.
“Our first entry into the West Kelowna market was in September 2018 with the purchase of nearby Carrington Ridge. 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.”
The property will be managed by Skyline Living. This is Skyline Apartment REIT’s second purchase in West Kelowna.
Skyline Apartment REIT now comprises 229 properties in 61 communities in eight provinces across Canada, with a total of 19,989 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 exclusive 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, please visit SkylineWealth.ca.
Skyline Apartment REIT is operated and managed by Skyline Group Of Companies.
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