Skyline Apartment REIT Acquires Second Property in Vernon, BC

On December 2, 2019, the Skyline Apartment REIT, a privately-owned and managed portfolio of multi-residential properties across Canada, announced the acquisition of Summitview Heights, a luxury apartment property in Vernon, BC for $9.49 million.

The property comprises 43 luxury suites and is Skyline Apartment REIT’s second acquisition in the city of Vernon. The one, two, and three-bedroom suites are enhanced with open-concept design and luxury finishes. Residents of Summitview Heights will enjoy the beautiful surrounding neighbourhood, with nearby nature trails and shopping. The property also offers convenient access to grocery stores, other amenities, and Highway 97.

“We are pleased to announce the acquisition of Summitview Heights, our second property in the beautiful city of Vernon in British Columbia,” said Matthew Organ, President of Skyline Apartment.

“March 2019 marked our entry into the Vernon market with the purchase of Rockwood Landing, our first luxury apartment complex in the city, and we’ve enjoyed a hugely positive response from the community. With the purchase of Summitview Heights, we’re proud to be providing additional luxury accommodations for Vernon residents to call home.”

Learn more about Summitview Heights at summitviewheights.ca.

Introduced in 2006, the 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.

Post-acquisition, the Skyline Apartment REIT comprises 205 properties in 56 communities in eight provinces across Canada, with a total of 18,079 suites.