Skyline Apartment REIT Acquires Additional Tecumseh Property
November 28, 2012 - Press Release
November 30, 2012 – Skyline Apartment REIT recently completed the acquisition of a property in Tecumseh, Ontario.
On November 28th, the 50-unit building, located at 11886 Tecumseh Road East, had a total purchase price of $3.3 million. This seniors-oriented building is located directly across the street from the REIT’s other Tecumseh asset. The acquisition adds and strengthens to the REIT’s current Tecumseh holdings, now increased to two properties with a total of 199 units in the city.
Post-acquisition, the Skyline Apartment REIT currently comprises 8,358 residential suites and approximately 700,000 square feet of commercial space in 111 properties, spread out across 42 communities in four provinces. The total internally appraised IFRS value of the Skyline Apartment REIT is approximately $716 million.
About Skyline Apartment REIT
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 exclusive Exempt Market Dealer for the REIT.
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 more about Skyline Apartment REIT and other alternative investment products offered through Skyline Wealth Management, please visit SkylineWealth.ca.
Skyline Apartment REIT is operated and managed by Skyline Group of Companies.
For media inquiries, please contact:
Cindy BeverlyVice President, Marketing & Communications
Skyline Group of Companies
5 Douglas Street, Suite 301
Guelph, ON N1H 2S8
519.826.0439 x602
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