On Thursday, August 25, the Skyline Apartment REIT acquired a 118-unit apartment community at 104 Confederation Drive in St. Thomas, Ontario. This property is the Apartment REIT’s second purchase in the city of St. Thomas, and was purchased for $11.8M. Skyline is now one of the city’s biggest landlords, operating approximately 14% of the apartments in St. Thomas.
“It’s exciting to be growing our presence in St. Thomas,” said Pam de Burgh-Thomas, Skyline Living Property Manager. “We are eager to expand in thriving, friendly communities like this one.”
Also included in the portfolio acquisition was a 35-unit property at 99 Thomas Street in Kingston, Ontario. The property was purchased for $2.6M, and is Skyline’s sixth purchase in that city.
Post-acquisition, the Skyline Apartment REIT comprises 181 properties in 48 Canadian communities, with 16,104 units.
104 Confederation Drive, St. Thomas, Ontario
99 Thomas Street, Kingston, Ontario