Skyline Apartment REIT Enters Manitoba with Winnipeg Purchase

On April 17, 2019, Skyline Apartment REIT, a privately-owned and managed portfolio of multi-residential properties across Canada, announced their entrance into the Manitoba market with the acquisition of three newly developed multi-residential properties for $71.6M.

The acquisition consists of 5 mid-rise apartments; Addison Square located at 10, 11 & 20 El Tassi Drive (3 buildings; 195 suites) and Waterford Village located at 10 Highwater Path & 90 Waterford Green Common (2 buildings; 126 suites). This acquisition is the REIT’s first acquisition in Manitoba.

“We are very excited to expand Skyline’s presence into Winnipeg,” commented Matthew Organ, President of Skyline Apartment REIT. “This acquisition introduces us to a new market and allows us to bring our model of quality homes with a community focus to the residents of Winnipeg, enabling us to have an impact on not only the tenants but the larger community as well.”

Located in Winnipeg’s north and east ends, these professionally managed buildings feature many high-end amenities, on-site fitness and community rooms and are minutes from shopping, parks and highway access. As part of the Skyline Living community, the Resident Managers of this portfolio will plan regular social events and charitable activities to help the tenants of the building be active members of the Winnipeg community.

Learn more about Addison Square here.

Learn more about Waterford Village here.

Introduced in 2006, Skyline Apartment REIT is fully-managed and operated by the Skyline Group of Companies, a Guelph, Ontario-based real estate acquisitions, management, and investment firm.

Post-acquisition, the Skyline Apartment REIT comprises of 201 properties in 56 communities across 8 provinces – Ontario, Saskatchewan, New Brunswick, Québec, Alberta, British Columbia, Nova Scotia, Manitoba – with 17,610 units and 655,178 square feet of commercial space.