Skyline Apartment REIT purchases second Parksville, BC property

[Guelph, Ontario – August 7, 2024]

On August 22, 2024, Skyline Apartment REIT acquired a newly built residential property located at 377 & 385 Moilliet Street South in Parksville, British Columbia.

The property comprises two four-storey residential buildings with 130 suites. It will be professionally managed by Skyline Living. The property is Phase 2 of the Merewood Apartments development. The REIT purchased Phase 1, located at 411 & 423 Despard Avenue West, in August of 2022.

“Skyline Apartment REIT is proud to offer additional living spaces to Parksville residents with the purchase of 377 & 385 Moilliet Street South,” said Matthew Organ, President, Skyline Apartment REIT.

“We received a great welcome with our first entry into the Parksville market a few years ago, and we’re thrilled to be expanding our presence here while providing high-quality rental suites with sought-after features and amenities.”

Post-acquisition, Skyline Apartment REIT comprises 240 properties in 57 communities in seven provinces across Canada, with a total of 21,867 residential units.

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”), the preferred Exempt Market Dealer for the REIT. It is also available on Fundserv (Code: SKY2006).

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 about additional alternative investment products offered through Skyline Wealth, please visit SkylineWealthManagement.ca.

Skyline Apartment REIT is operated and managed by Skyline Group of Companies.

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