On Thursday, February 15th, 2018, the Skyline Apartment REIT finalized a deal with RHH Rental Properties Ltd., a division of Reid’s Heritage Homes, to purchase 1045 Waterloo Street (“The Suites at Summerside”) for $11.6M.
“Skyline is proud to have been part of the Port Elgin community since 2003,” commented Matthew Organ, President of Skyline Apartment REIT. “We are very excited to now grow our commitment to the residents of Port Elgin by offering a newly constructed, luxury rental property.”
The Skyline Apartment REIT is already well-acquainted with the city, currently owning two residential properties with a total of 194 apartment suites in the area. Skyline Group also manages three retail assets in Port Elgin.
For more information about The Suites at Summerside, please visit www.SuitesAtSummerside.ca.
Post-acquisition, the Skyline Apartment REIT comprises 186 properties in 49 communities across 7 provinces – ON, SK, NB, NL, QC, AB, BC – with 16,708 units and 661,195 square feet of commercial space.