[Guelph, Ontario – June 25, 2024]
Skyline Apartment REIT (“the REIT”), a $5+ billion Guelph, Ontario-based Real Estate Investment Trust (REIT) specializing in multi-residential real estate, has announced an increase to its Unit Value.
Effective June 25, 2024, the managing board of the REIT has approved a 2.7% increase in Unit Value for the REIT’s Class A and Class F Units from $27.75 to $28.50.
“Despite the high interest rate environment of the past few years, Skyline Apartment REIT has continued to demonstrate strong performance and stability,” said Matthew Organ, President, Skyline Apartment REIT.
“Rental apartments remain one of the most affordable types of housing for Canadians and demand is higher than ever. Through diligent management of the existing portfolio, we’ve realized income growth potential, which has translated to an increase in our Unit Value. The Mark to Market rent gap remains high which should translate into future value growth as we continue to operate the portfolio.”
Launched in 2006, the REIT’s portfolio now comprises more than 21,000 apartment suites, which are spread across 238 properties in 57 secondary and tertiary markets in seven Canadian provinces.1
Skyline Apartment REIT reports its annualized returns quarterly.2 As at March 31, 2024, its annualized returns are as follows:
Skyline Apartment REIT’s Class A Units are available through Skyline Wealth Management, a Canadian investment firm and the preferred Exempt Market Dealer for the REIT.
Class F Units for the REIT are available for purchase through Fundserv (code: SKY2006).
1 As at June 25, 2024
2 The annualized return is based on a single unit initial investment in the Skyline Apartment REIT inclusive of unit price changes and reinvested distributions.
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 Management”), 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 SkylineWealthManagement.ca.
Skyline Apartment REIT is operated and managed by Skyline Group of Companies.