Exterior of an apartment building in Nanaimo, British Columbia

Skyline Apartment REIT increases unit value to $29.50

Skyline Apartment REIT (“the REIT”), a $5+ billion Canadian real estate investment trust (REIT) specializing in multi-residential real estate, has announced its second unit value increase in 2024.1

Effective November 19, 2024, the REIT’s Board of Trustees approved a $1.00 unit value increase for the REIT’s Class A and Class F units from $28.50 to $29.50.

The Class A annual distribution rate remains unchanged at $1.11 per unit. The new Class A annual yield is 3.76%.2

“The REIT’s second unit value increase in 2024 is a result of its continued strong performance through Q3,” said Matthew Organ, President, Skyline Apartment REIT.

“CMHC’s Housing Market Outlook report anticipates that rental housing demand in Canada will continue to rise into 2025 and 2026 due to strong population growth and the continued shortage of affordable housing for sale. With more than 1000 new build apartment suites currently in our acquisitions and development pipeline, the Apartment REIT is well positioned to deliver strong value to our investors by enhancing the portfolio. The REIT’s mark-to-market rent gap remains strong at $360 per suite per month, which contributes to strong income and unit value growth for investors.”

Launched in 2006, the REIT’s portfolio now comprises nearly 22,000 apartment suites across 240 properties in 57 secondary and tertiary markets in seven Canadian provinces.3

Skyline Apartment REIT reports its annualized returns quarterly.4 As of September 30, 2024, its Class A annualized returns are as follows:

  • 1-year: 6.83%
  • 3-year: 8.01%
  • 5-year: 15.29%
  • 10-year: 14.20%
  • Since inception (2006): 13.74%

Skyline Apartment REIT’s Class A units are available through Skyline Wealth Management, a Canadian investment firm based in Guelph, Ontario and the preferred exempt market dealer for the REIT.

The REIT’s Class F units are available for purchase through Fundserv (code: SKY2006).

The REIT’s growth was recognized earlier in 2024 with a #5 ranking on RHB The Annual’s list of Top 10 REITs, as well as top 10 placement in RHB’s The Annual regional editions for Kitchener-Waterloo and London, Ontario.

About Skyline Apartment REIT

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

Skyline Apartment REIT is distributed as an alternative investment product through Skyline Wealth Management Inc. (“Skyline Wealth Management”), the preferred Exempt Market Dealer for the REIT. It is also available on Fundserv (Code: SKY2006).

Skyline Apartment REIT is committed to providing best in class apartment suites and service to its residential tenants, while surfacing value with a goal to deliver stable returns to its investors.

To learn more about Skyline Apartment REIT, please visit SkylineApartmentREIT.ca.

To learn about additional alternative investment products offered through Skyline Wealth Management, please visit SkylineWealthManagement.ca.

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

For media inquiries, please contact:

Cindy Beverly
Vice President, Marketing & Communications
Skyline Group of Companies
5 Douglas Street, Suite 301
Guelph, ON N1H 2S8
519.826.0439 x602

Footnotes

  1. Unit value is determined by a Net Asset Value (NAV) model based on evaluations by senior management and the Skyline Apartment REIT Board of Trustees. As at September 30, 2024.back
  2. The current annual yield is equal to the annual distribution per unit divided by the current unit value.back
  3. As at November 19, 2024.back
  4. The annualized return is based on a single unit initial investment in Skyline Apartment REIT inclusive of unit price changes and reinvested distributions.back

Disclaimer

Press releases are disseminated by Skyline Wealth Management Inc. (“Skyline Wealth Management”) on behalf of the Issuer as at the date of publication. Skyline Wealth Management does not undertake to advise the reader of any changes. Skyline Wealth Management has not taken any steps to verify accuracy. Commissions, trailing commissions, management fees and expenses all may be associated with investments in exempt market products. Please read the confidential offering documents before investing. Some of the investment products offered by Skyline Wealth Management are from related issuers. A full list of issuers related to Skyline Wealth Management and details of the relationship between them is available upon request.