Skyline Apartment REIT Completes Sale of Ridgetown, ON Properties
[Guelph, ON – October 15, 2019]
On October 11th, 2019, Skyline Apartment REIT completed the sale of three properties in Ridgetown, ON, for $10.37 M. The properties are comprised of three buildings with a total of 109 suites.
The capital from the sale of these properties will be re-deployed by the Skyline Apartment REIT toward other accretive acquisitions and new-build properties in strong secondary and tertiary real estate markets that meet the standards and growth potential of the Skyline Apartment REIT.
“This multi-property transaction was seamlessly completed thanks to the hard work of the teams on both sides of the deal,” said Matthew Organ, President of Skyline Apartment Asset Management Inc. “While our strategy has always been a buy and hold approach, we will continue to look for disposition opportunities across our portfolio that will surface value for our investors and create opportunities of growth potential into new attractive markets.”
Post-disposition, the Skyline Apartment REIT comprises of 203 properties in 56 communities across 8 provinces – ON, SK, NB, QC, AB, BC, NS, MB – with a total of 17,871 units and 655,178 square feet of commercial space.
About Skyline Living
Skyline Living, based in Guelph, is a division of the Skyline Group of Companies, a national real estate investment, and property management organization. Skyline Living is committed to providing best in class apartments, environmental leadership, and community support. Our goal is to improve the lives of our residents, our employees, and the neighbourhoods in which they live.
To learn more about the Skyline Group of Companies and Skyline Living, please visit our website at www.skylineliving.ca.
For media inquiries, please contact:
Director of Marketing, Skyline Group of Companies
5 Douglas Street, Suite 301
Guelph, ON N1H 2S8
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