January 8, 2013 – Skyline Apartment REIT made its last acquisition of 2012 on December 21st. The Hamilton, ON property, located at 222 Gage Avenue South, had a $7.1 million purchase price. Located at the intersection of Cumberland Avenue, the property is located directly across from spacious and beautiful Gage Park, and also boasts nearby transit, shopping and schools.
This new acquisition is Skyline Apartment REIT’s fifth Hamilton property.
Post-acquisition, the Skyline Apartment REIT currently comprises 8,459 residential suites and approximately 700,000 square feet of commercial space in 112 properties, spread out across 42 communities in four provinces. The total internally appraised IFRS value of the Skyline Apartment REIT is approximately $723 million.