[Guelph, Ontario – April 23, 2024]
On April 26, 2024, Skyline Apartment REIT sold a property at 1214 Riverside Drive (Riverside Apartments) in Timmins, Ontario.
The property comprises one 3-storey building with 49 residential units in total.
“Although Skyline Apartment REIT typically maintains a buy-and-hold strategy, we regularly evaluate our property portfolio and identify any non-core assets, where strategic dispositions can surface further value for our investors,” said Matthew Organ, President, Skyline Apartment REIT.
“1214 Riverside Drive was identified as appropriate for a strategic disposition. Funds surfaced from the property’s sale will be used toward accretive property acquisitions to ensure maximum value for Skyline Apartment REIT unitholders.”
Post-disposition, Skyline Apartment REIT comprises 240 properties in 58 communities in seven provinces across Canada, with a total of 21,939 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”), the preferred Exempt Market Dealer for the REIT. It is also available on Fundserv (Code: SKY2006).
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.