$4.3+ billion Skyline Apartment REIT announces distribution

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Guelph, Ontario, Canada, Sept. 28, 2022 (GLOBE NEWSWIRE) — A $4.3+ billion(1) house Real Estate Investment Trust (REIT) primarily based in Guelph, Ontario is having fun with the payoff of a strategic acquisitions and funding technique that has demonstrated success amid the present excessive rate of interest setting. 

Effective August 17, 2022, the managing board of Skyline Apartment REIT accepted a rise in distribution price from $1.05 to $1.09 per Unit every year. 

The REIT maintains a Unit value of $26.25. 

“We’ve not only seen rising interest rates, but also limited supply levels and increased cost of home ownership throughout 2022 so far,” mentioned Matthew Organ, President, Skyline Apartment REIT. 

“These factors have led to continued demand for high-quality apartment rental accommodations in Canada, and I expect these trends to continue as we move through 2022 and into 2023.”  

Organ famous that Skyline Apartment REIT’s acquisitions and funding technique retains it well-positioned within the market, offering high quality residing areas at reasonably priced hire costs, which permits the REIT to optimize worth for its Unitholders.  

The REIT has proven traditionally regular development and efficiency since its inception in 2006, with 194 months of consecutive constructive returns. In reality, the REIT’s whole Assets Under Management (AUM) has grown by 32.19% from 2020-2022. 

Its portfolio presently contains greater than 21,000 house suites, that are unfold throughout 247 properties in 61 secondary and tertiary markets (equivalent to Nanaimo, British Columbia; Sarnia, Ontario; and Dartmouth, Nova Scotia) in seven Canadian provinces.(2) 

Over the previous few years, the REIT has elevated its funding within the improvement of latest multi-residential builds, though it additionally continues its strategic buy of “value-add” inventory – each actions primarily in secondary and tertiary communities. 

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“There’s a current demand for institutional-quality buildings in the market, and we continue to find greater value in new builds as they don’t require a significant amount of capital expenditures and a potentially longer runway to cross our desired yield threshold,” mentioned Organ. 

Skyline Apartment REIT has been persistently ranked as one of many prime 10 house owners and managers of house actual property in each Canadian Property Management journal’s “Who’s Who In Real Estate” version and Rental Housing Business (RHB) Magazine’s “The Annual” version. 

The REIT is open for an fairness elevate in September 2022. Interested buyers could contact Skyline Wealth, the popular Exempt Market Dealer for the REIT, at SkylineWealth.ca.  

(1) Unaudited determine. As at August 17, 2022. 

(2) As at September 2, 2022. 

 

About Skyline Apartment REIT 

Skyline Apartment REIT (the “REIT”) is a privately owned and managed portfolio of primarily multi-residential properties, centered on buying each established and newly developed properties in secondary and tertiary communities throughout Canada.  

Skyline Apartment REIT is distributed in its place funding product by Skyline Wealth Management Inc. (“Skyline Wealth”), the popular Exempt Market Dealer for the REIT.   

Skyline Apartment REIT is dedicated to offering greatest in school house suites and repair to its residential tenants, whereas surfacing worth with a purpose to ship secure returns to its buyers. 

To be taught extra about Skyline Apartment REIT, please go to SkylineApartmentREIT.ca. 

To study extra various funding merchandise supplied by Skyline Wealth, please go to SkylineWealth.ca. 

Skyline Apartment REIT is operated and managed by Skyline Group Of Companies. 

  • 455 rue Sicard, Mascouche, QC – owned by Skyline Apartment REIT

        



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