Skyline Apartment REIT Expands in Mirabel With $17.2M Acquisition

On July 15, 2019, Skyline Apartment REIT, a privately-owned and managed portfolio of multi-residential properties across Canada, announced the acquisition of M7- the newest phase of the M3 Condos Locatifs development acquired by the REIT in February 2019. The latest acquisition of M7 is comprised of 1 multi-residential building (totalling 71 units) for $17.2M.

“Our latest acquisition in Mirabel is very exciting for the Trust,” commented Matthew Organ, President of Skyline Apartment REIT. “We have had a very positive reception since our acquisition of the M3 development in February, and we look forward to the continued growth with the community of Mirabel.”

The professionally managed buildings feature many amenities and are adjacent to both conservation lands and 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 Mirabel community.

Learn more about the M3 Condos Locatifs 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 201 properties in 56 communities across 8 provinces – ON, SK, NB, QC, AB, BC, NS, MB – with 17,613 units and 655,178 square feet of commercial space.