We are excited to announce yet another addition to the Skyline Apartment REIT portfolio just a few short weeks after purchasing its first and second properties of 2012; the REIT recently acquired its third new property of 2012 in Sault Ste. Marie, Ontario. This 45-unit multi-residential complex located at 130 Allard Street was purchased for $2.8 million and is the Apartment REIT’s 104th property (the portfolio decreased in size at the end of April as a result of selling three commercial properties). Today, the Skyline Apartment REIT portfolio is currently made up of 7,660 apartment units and approximately 700,000 square feet of commercial space spread out across 39 Canadian communities.
This newest addition to the Apartment REIT portfolio is the first Skyline property in the city of Sault Ste. Marie and is a welcome addition to the REIT’s northern Ontario residential portfolio, which now encompasses over 630 suites across 10 properties and spans the cities of North Bay, Haileybury, Thunder Bay, Timmins and now Sault Ste. Marie.
“We are excited to expand the REIT portfolio into a new community; this will also help to improve economies of scale and provide increased knowledge and expertise in the northern markets” said Jason Castellan, CEO & Co-Founder of Skyline Apartment REIT.
To learn more about investment opportunities within Skyline Apartment REIT, please contact the Skyline Wealth Management Inc. Investor Relations team directly at 1.888.977.REIT(7348) or by email at invest@skylinewealth.ca. This investment is available to Accredit Investors only or to those who are otherwise exempt. Past performance is not an indicator of future performance.