Skyline Apartment REIT Purchases Additional Properties in Brantford and Sarnia
Skyline Apartment REIT, a privately-owned and managed portfolio of multi-residential properties across Canada, has recently finalized two deals that adds to their already strong presence in Southern Ontario - 301 Fairview Drive, Brantford (“Cooper Towers”) and 11 Derby Lane, Sarnia (“Derby Lane Apartments”) for $11.6M and $9.9M respectively.
Created in 2006, Skyline Apartment REIT is fully-managed and operated by the Skyline Group of Companies, a Guelph, ON-based real estate acquisitions, management and investment firm. Prior to these acquisitions, their portfolio already included seven residential properties in Brantford, totaling 801 apartment suites, and 11 residential properties in Sarnia, with a total of 668 apartment suites. The Skyline Group also manages one commercial property in Brantford and one retail property in Sarnia.
“We are very excited to grow our commitment to the cities of Brantford and Sarnia,” commented Matthew Organ, President of Skyline Apartment REIT. “The acquisition of these properties allows Skyline to provide even more quality homes to the residents of these two great cities.”
The transaction in Brantford closed on March 27, 2018. The transaction in Sarnia closed on March 28, 2018.
Post-acquisition, the Skyline Apartment REIT comprises 188 properties in 49 communities across 7 provinces – ON, SK, NB, NL, QC, AB, BC – with 16,846 units and 661,195 square feet of commercial space.
301 Fairview Drive, Brantford, ON
11 Derby Lane, Sarnia, ON