[Skip to Content]

Skyline Apartment REIT Acquires New Property; Moves Into City of Welland!

Posted On April 11, 2013

255, 265 Willson Road, Welland

On Thursday, April 11th, Skyline Apartment REIT made its fourth acquisition of 2013. The property, which is located at 255 & 265 Willson Road in Welland, Ontario, had a purchase price of $6.6 million. The 112 unit property is located near both Maple Park and the Steve Bauer Hiking & Cycling Trail- beautiful city landmarks and attractions.

This is Skyline Apartment REIT’s first property in the City of Welland.

“We are very happy to close our first acquisition in Welland," says Mike Bonneveld, Director of Acquisitions for Skyline Asset Management Inc.  "This two building property, which is currently very well occupied, will provide our management team the opportunity to do what it does best—add value.  The property will undergo significant cosmetic and mechanical upgrades, providing utility cost savings, while at the same time materially improving the property’s top line over time.”

Post-acquisition, Skyline Apartment REIT currently comprises 116 properties spread out across 44 communities in four provinces, and approximately 700,000 square feet of commercial space. The total internally appraised IFRS value of Skyline Apartment REIT is approximately $884 million.

Skyline Apartment REIT is also pleased to announce it is now open to new investments. Skyline Apartment REIT’s compounded annualized return since inception is more than 17%, and  the REIT’s investors enjoy receiving stable and reliable monthly income that is tax-deferred to the extent possible.


Similar News Items

Moncton NB

Skyline Apartment REIT Enters Moncton, NB with 2-Property Purchase

Posted On December 20, 2017

Skyline Apartment REIT now has assets in 7 provinces across Canada

Read the full post

3150 Donnelly St Windsor ON

Skyline Apartment REIT Purchases Additional Windsor, ON Property

Posted On December 12, 2017

3150 Donnelly Street is the Apartment REIT's 27th property in Windsor

Read the full post

151 Marina Park Avenue Midland ON

Skyline Apartment REIT Purchases First Midland, ON Property

Posted On November 29, 2017

151 Marina Park Avenue is Skyline Apartment REIT's first property in Midland, ON

Read the full post