[Skip to Content]

Skyline Apartment REIT’s new acquisition completes Ruscio Villa Complex in Sault Ste. Marie, ON

Posted On February 7, 2013

122-142 Allard Street, Sault Ste Marie
122 & 142 Allard Street, Sault Ste. Marie, ON

February 7, 2013 – Skyline Apartment REIT made its first acquisition of 2013 on Wednesday, February 6th. The buildings, located at 122 & 142 Allard Street in Sault Ste. Marie, ON, had a $985,000 purchase price.  

The two 11-unit buildings make up a low-rise apartment complex located in central Sault Ste. Marie, and are in close proximity to schools, shopping, public transportation and all basic amenities. The two buildings were purchased in order to complete a complex that includes 130 Allard Street, a property already owned by Skyline Apartment REIT. The Ruscio Villa complex comprises 67 units in total – all owned by the REIT.

Skyline Apartment REIT owns and manages five properties in Sault Ste. Marie, which will allow for great efficiencies for management and other economies of scale in the area.

Post-acquisition, Skyline Apartment REIT currently comprises 113 properties spread out across 42 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 $821 million.


Similar News Items

blog photo min5

Skyline Apartment REIT Enters Nova Scotia with Dartmouth Purchase

Posted On April 27, 2018

Skyline has purchased 80 Holtwood Court, its first residential apartment in Nova Scotia.

Read the full post

blog prelude

Skyline Apartment REIT Purchases Additional Properties in Brantford and Sarnia

Posted On March 28, 2018

Skyline Apartment REIT has finalized two deals to purchase buildings in Brantford and Sarnia, ON.

Read the full post

Summerside Rendering2

Skyline Apartment REIT Purchases Additional Port Elgin, ON Property

Posted On February 15, 2018

1045 Waterloo Street is the Apartment REIT's 3rd residential property in Port Elgin

Read the full post