On June 29th, 2020, Skyline Apartment REIT announced the acquisition of a property in the city of Langford, BC (a city within the Greater Victoria area on Vancouver Island).
The Star on Goldstream is located at 1085 Goldstream Avenue in Langford. The total purchase price for the property was $52.05M.
The property comprises 166 residential suites and has a mix of one and two-bedroom units. With this purchase, Skyline Apartment REIT now owns three apartment properties in the city of Langford.
Only a 15-minute drive to downtown Victoria, the property has nearby grocery amenities, restaurants, shopping, parks, and schools, as well as surrounding mountains, lakes, and beaches. It is located just south of Trans-Canada Hwy 1 connecting the city of Langford to Nanaimo in the north and Victoria to the southeast.
The Star on Goldstream will be managed by Skyline Living. The property offers an on-site fitness facility, bike storage, and a lobby lounge. The suites feature large covered balconies, stainless steel appliances, and in-suite laundry.
“We’re excited to be adding another high-quality property to our holdings in the city of Langford,” said Matthew Organ, President of Skyline Apartment REIT.
“The Star on Goldstream offers 166 modern living spaces with beautiful surrounding Vancouver Island scenery, and all amenities close by. It’s also near our other two properties in the city, The Enclave and Meaford Heights, both purchased in September 2019. We’re now proudly managing 353 residential suites in Langford.”
Rental inquiries for The Star on Goldstream can be made at TheStarOnGoldstream.com.
Post-acquisition, Skyline Apartment REIT comprises 213 properties in 58 communities in eight provinces across Canada, with a total of 18,861 suites.
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, the exclusive Exempt Market Dealer (EMD) 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 and other alternative investment products offered through Skyline Wealth Management, please visit SkylineWealth.ca.
Skyline Apartment REIT is operated and managed by Skyline Group of Companies.
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