- What Skyline Apartment REIT has bought two residential properties in Québec and B.C., RENX reported
- Why The company purchased phase one of the developments a few years ago
- What next The deals will take the REIT’s portfolio to 240 assets
Skyline Apartment REIT has purchased two new residential properties in Parksville, B.C., and Mascouche, Qué.
The Guelph, Ont.-based company purchased phase two of Merewood Apartments, at 377 and 385 Moilliet Street South, for $48.8m, RENX reported.
The property has two four-storey residential buildings with 130 suites. It will be managed by Skyline Living.
In August 2022, the company purchased phase one of the development, comprising 122 units at 411 and 423 Despard Avenue West.
Skyline also bought a 10-storey, 106-unit apartment building in Mascouche for $36.5m, according to RENX.
The property, at 445 rue Sicard, is part of the multi-phase Quartier 7 development built and managed by Danam Lacourse. Skyline bought phase one of the project, at 405 rue Sicard, for $19m in August 2020.
Following these acquisitions, the REIT now owns 240 assets with 21,867 apartments across seven provinces.
