A Guelph-based company has snapped up five Sarnia apartment properties with a total of 346 units.
The purchase by Skyline Apartment REIT (Real Estate Investment Trust) was made Wednesday, (July 6) bringing the company's total number of apartment units in Sarnia to 668.
The newly-acquired properties are at 125 College Ave. S., 225 and 233 Capel St., 811 and 817 Devine St., 835 Devine St., and 849 Devine St.
A purchase price was not disclosed.
Skyline is now one of the city's largest landlords, operating about 10% of Sarnia's rental apartments.
Matthew Organ, president of the company's property management component, Skyline Living, says they're proud to be part of the Sarnia community.
"We are committed to providing quality homes for the residents of Sarnia, and for the residents in each of our dozens of Skyline communities across Canada," says Organ.
"We're always looking for great opportunities to grow in thriving areas like this one."
Skyline Apartment REIT now has 178 properties in 47 Canadian communities with nearly 16,000 units.