On January 24, 2022, Skyline Apartment REIT sold a property at 649 Scottsdale Drive in Guelph, Ontario. The property totalled 81,531 square feet of commercial office space with The Cooperators as its largest tenant.
The total sale price for the property was $13.7M.
649 Scottsdale Drive was originally purchased by Skyline Apartment REIT in 2008 as part of a six-property portfolio of commercial office properties tenanted by The Cooperators.
“649 Scottsdale Drive was identified in 2021 as a non-core asset that was appropriate for a strategic disposition,” said Matthew Organ, President, Skyline Apartment REIT.
“We are proud to continue our presence in Guelph with 12 additional properties and 484 apartment suites,” said Organ.
“We will continue to evaluate the Skyline Apartment REIT portfolio and identify any non-core assets, where strategic dispositions can surface further value for our investors.”
Post-disposition, Skyline Apartment REIT comprises 237 properties in 59 communities in seven provinces across Canada, with a total of 21,323 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 Inc. (“Skyline Wealth”), 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, please visit SkylineWealth.ca.
Skyline Apartment REIT is operated and managed by Skyline Group Of Companies.
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5 Douglas Street, Suite 301
Guelph, ON N1H 2S8