- What Skyline Apartment REIT has sold an Edmonton apartment building
- Why It traded for about $220,000/unit
- What next The new owner is Montréal-based Federico Berloni
Skyline Apartment REIT has sold a 160-unit Edmonton apartment building for $35m, Green Street News can reveal.
Brintnell Landing, at 16255, 16265 and 16275 51st Street NW, was picked up by Federico Berloni, president of Ferrovia Capital. The price translates to a valuation of about $220,000/unit and a capitalization rate of 5%.
Marcus & Millichap’s IPA division brokered the deal.
The sale marks another trade in Edmonton’s thriving multifamily market which had seen $290m worth of transactions in 2025, according to Green Street’s Sales Comps Database. With the Brintnell Landing sale, that number is now $325m.
The largest sale was the $79.4m trade of the 240-unit MacLaren at 10141 124th Street in early February.
Comparatively, at the end of May 2024, the city had seen about $139m worth of multifamily transactions.
Brintnell Landing, constructed by Highstreet Ventures in 2014, sits 10km northeast of downtown Edmonton. It is close to Highway 216 with a Canadian Tire, Save-On-Foods and No Frills nearby.
Skyline Apartment REIT is a Guelph, Ont.-based private REIT with 232 properties across seven provinces totaling nearly 21,000 units.
Ferrovia Capital is a Montréal-based investment firm that has been active in the Alberta market. Last year, it picked up the Village at the Hamptons apartment building in Edmonton, as well as two residential Calgary properties, for $126m, CoStar reported.