Skyline Apartment REIT Enters Vernon, BC

On March 14, 2019, Skyline Apartment REIT, a privately-owned and managed portfolio of multi-residential properties across Canada, announced the acquisition of Rockwood Landing, a newly developed multi-residential property for $13.3M. The acquisition is a five-story mid-rise apartment building (consisting of 60 units) and is the REIT’s first acquisition in Vernon, BC.

“Our latest acquisition in Vernon is very exciting for the Trust,” commented Matthew Organ, President of Skyline Apartment REIT. “The community response to Skyline Living has been very positive since entering the British Columbia market back in 2015. Rockwood Landing is another community that we see great growth potential for the Trust, and we look forward to working with the people of Vernon.”

Located in the Okanagan region, the professionally managed building backs on to conservation land, features many high-end amenities and is minutes from retail shops. As part of the Skyline Living community, the Resident Manager of this portfolio will plan regular social events and charitable activities to help the tenants of the building be active members of the Vernon community.

Learn more about Skyline Living’s Rockwood Landing here.

Introduced 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.

Post-acquisition, the Skyline Apartment REIT comprises of 197 properties in 55 communities across 7 provinces – ON, SK, NB, QC, AB, BC, NS – with 17,200 units and 650,601 square feet of commercial space.