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Over $4.3 Billion Skyline Apartment REIT Announces Increased Dividend Per Unit, The Canadian Business Journal

GUELPH, ON, CANADA, Sept. 28, 2022 (GLOBE NEWSWIRE) — A more than $4.3 billion(1) apartment real estate investment trust (REIT) based in Guelph, Ontario, has delivered results from its strategic acquisition and investment strategy. I am enjoying Success in today’s high interest rate environment.

Effective August 17, 2022, the Board of Directors of Skyline Apartment REIT approved an increase in the distribution rate from $1.05 to $1.09 per unit per year.

The REIT maintains a unit price of $26.25.

Matthew Ogan, President of Skyline Apartment REIT, said:

“These factors continue to drive demand for high-quality apartment rental accommodation in Canada, and we expect this trend to continue through 2022 and 2023.”

Organ says Skyline Apartment REIT’s acquisition and investment strategy maintains its market position, provides quality living space at affordable rents, and enables the REIT to optimize value for its beneficiaries. said.

The REIT has shown historically solid growth and performance since its inception in 2006, posting 194 consecutive months of positive returns. In fact, REIT Total Assets Under Management (AUM) increased by 32.19% from 2020 to 2022.

Today, its portfolio consists of over 21,000 apartment suites in 247 properties in 61 secondary and tertiary markets in seven Canadian provinces, including Nanaimo, British Columbia; Sarnia, Ontario; and Dartmouth, Nova Scotia. spread out (2).

Over the past few years, REITs have increased their investments in new multifamily developments, but they also continue to make strategic purchases of “value-added” stocks. Both activities take place mainly in secondary and tertiary communities.

“Because there is currently a demand in the market for institutional quality buildings, new buildings do not require large capital expenditures and may exceed the desired yield threshold, and therefore do not require longer runways. “We continue to see greater value in new buildings.” organ.

Skyline Apartment REIT was named one of the Top 10 Apartment Property Owners and Managers by both Canadian Property Management magazine’s “Who’s Who In Real Estate” edition and Rental Housing Business (RHB) Magazine’s “The Annual” edition. consistently ranked as one.

The REIT is open for a September 2022 equity raise. Interested investors can contact Skyline Wealth, the REIT’s Preferred Excluded Markets Dealer, at SkylineWealth.ca.

(1) Unaudited figures. As of August 17, 2022.

(2) As of September 2, 2022.

About Skyline Apartment REIT

Skyline Apartment REIT (“REIT”) is a privately owned and operated primarily multifamily property focused on acquiring both established and newly developed properties in secondary and tertiary communities across Canada. management portfolio.

Skyline Apartment REIT is marketed as an alternative investment product through Skyline Wealth Management Inc. (“Skyline Wealth”), a preferred exempt market dealer for REITs.

Skyline Apartment REIT is committed to providing best-in-class apartment suites and services to residential tenants while demonstrating value with the goal of providing consistent returns to investors.

For more information about Skyline Apartment REIT, please visit SkylineApartmentREIT.ca.

For additional alternative investment products offered through Skyline Wealth, please visit 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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Over $4.3 Billion Skyline Apartment REIT Announces Increased Dividend Per Unit, The Canadian Business Journal

Source link Over $4.3 Billion Skyline Apartment REIT Announces Increased Dividend Per Unit, The Canadian Business Journal

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