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Okanagan five-building apartment portfolio sells for $44.7 million

Skyline Apartment REIT sells multi-family buildings totalling 212 units in Kelowna and Penticton to All Island Equity REIT.
1979 Pandosy
Cushman & Wakefield, Vancouver, for Western Investor

Type of property: Multi-family rental portfolio

Locations: 1979 Pandosy Street; 1950, 1955 and 1960 Pacific Court, Kelowna, B.C.; and 2902 South Main Street, Penticton, B.C.

Number of units: 212

Sale price: $44.75 million.

Vendor: Skyline Apartment Real Estate Investment Trust, Guelph, Ontario

Buyer: All Island Equity Real Estate Investment Trust, Nanaimo, B.C.

Brokerage:  Cushman & Wakefield, Vancouver

Broker: Peter Gibson