GUELPH, Ontario, Feb. 27, 2020 (GLOBE NEWSWIRE) -- Skyline Apartment REIT (“the REIT”), a Canadian private Real Estate Investment Trust, announced a 21.7% increase in the REIT’s Unit Price to $21.00 effective February 11, 2020.
Launched in 2006, Skyline Apartment REIT now provides homes to over 40,000 tenants across Canada. The REIT’s holdings comprise more than 18,000 apartment suites in over 200 multi-residential properties. The properties span 57 secondary and tertiary communities across eight provinces. In total, the Skyline Apartment REIT manages approximately $2.9 billion in assets.
“The combination of a growing population and the rising price of homeownership has led to an incredibly strong purpose-built rental market in Canada,” stated Matthew Organ, President of Skyline Apartment REIT.
“We have an organizational structure that includes full integration of ownership, maintenance, and management. That structure ensures all interests are aligned, allowing us to surface greater value out of each asset for our over 3,100 investors, some of which have been part of the REIT since 2006.”
Skyline Apartment REIT is operated and managed by Guelph, ON-based Skyline Group of Companies. In addition to Skyline Apartment REIT, it also operates and manages Skyline Commercial REIT, Skyline Retail REIT, and Skyline Clean Energy Fund.
“We’re proud that Skyline Group of Companies operates and manages these diversified assets that allow investors access to the private real estate and sustainable investment sectors,” said Jason Castellan, Co-Founder, and CEO of the Skyline Group of Companies.
“Not only do they enjoy steady returns historically across the funds, but by investing, they get to be a part of something bigger. These are also investments in the future of Canadian housing, in business and commerce across our country, and in the environment.”
To learn more about Skyline Apartment REIT, and other alternative investment products operated and managed by Skyline Group of Companies, please visit skylinewealth.ca.
About Skyline Apartment REIT
Skyline Apartment REIT is a widely-held, privately-owned and managed portfolio of multi-residential properties, focused on acquiring both established and newly-developed properties in secondary and tertiary communities across Canada.
Skyline Apartment REIT is offered as an alternative investment product through Skyline Wealth Management Inc., the exclusive Exempt Market Dealer (EMD) for the REIT.
Skyline Apartment REIT is committed to providing best-in-class apartment suites and service to its tenants, while surfacing value and delivering stable returns to its investors.
About Skyline Group of Companies
Skyline Group of Companies (“Skyline”) is a fully-integrated asset management, property management, and investment entity.
It is comprised of brands that provide services in real estate (apartment, commercial, and retail), new property development, and clean energy.
Skyline currently manages approximately $4.9 billion across its real estate and clean energy assets.
With nearly 1,000 employees across Canada, Skyline works to provide safe, clean, and friendly places for tenants to call home, great places to do business, sustainable solutions for a greener future, and an engaging experience for its investors.
View Skyline’s 20th Anniversary celebration video to see how it is grounded in real estate, powered by people, and growing for the future.
For more information about Skyline Group of Companies, please visit skylineonline.ca.
For media inquiries, please contact:
Jeff Stirling
Director of Marketing
5 Douglas Street, Suite 301
Guelph, ON N1H 2S8
519.826.0439 x243
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/3b9f6661-d84b-4c14-9ede-93773a329ace