[Guelph, ON – September 17, 2018]
On September 17, the Skyline Apartment REIT, a privately-owned and managed portfolio of multi-residential properties across Canada, announced the acquisition of Okanagan Place II, a three-building property at 1950, 1955 & 1960 Pacific Court in the city of Kelowna, BC.
Okanagan Place II is the Skyline Apartment REIT’s first purchase in Kelowna, although earlier in September, it purchased the Carrington Ridge apartment complex in neighbouring West Kelowna.
Okanagan Place II comprises 108 suites and had a total purchase price of $16.6M.
Located in downtown Kelowna, the property is close to grocery stores, parks and trail, and public transit, with Kelowna General Hospital and Okanagan College just minutes away. Its amenities include a fitness centre and games room.
Introduced in 2006, the Skyline Apartment REIT is fully managed and operated by the Skyline Group of Companies, a Guelph, ON-based real estate acquisition, management, and investment firm.