[Guelph, Ontario – September 2, 2025]
Skyline Apartment REIT is further expanding its footprint in the city of Nanaimo, BC as part of its ongoing strategy to invest in growing secondary and tertiary Canadian markets.
On September 2, 2025, the REIT purchased a 149-suite residential property at 6981 & 6985 Island Highway North in Nanaimo. The property is a newly developed expansion of North Point Apartments, which the REIT originally purchased in 2020 (6971, 6973 & 6975 Island Highway North).
With the addition of 6981 & 6985 Island Highway North, the expanded complex now totals five residential buildings with 300 suites.
Skyline Apartment REIT now owns three properties totaling 408 suites in the city of Nanaimo, which is the second-largest urban centre on Vancouver Island.
Nanaimo’s 2025 State of the Economy Report notes a significant population growth rate of 10.3% during the last Census, outpacing BC and Canada’s growth rates. The city’s population is projected to grow 1.7% annually to 120,162 by 2029.
“We’re proud to be investing further in the city of Nanaimo with this Phase 2 expansion of North Point Apartments,” said Matthew Organ, President, Skyline Apartment REIT.
“The city is experiencing promising economic growth which is projected to rise 1.8% in 2025 and 2026 due to population growth stabilization and a strong labour market. Additionally, a trend toward smaller household sizes and an aging population is contributing to a projected 23% increase in rented households between 2019-2029. The expansion of North Point Apartments allows us to bring more people and economic growth to the area while supporting renters’ evolving needs and expectations. This acquisition reflects our commitment to providing an exceptional experience to our tenants, and to delivering long-term value to our investors.”
North Point Apartments is a six-acre community located at nature’s doorstep, on the edge of beautiful parkland and forested trails, lakes, and beaches. Nearby amenities include convenient shopping (such as Woodgrove Shopping Centre next door), grocery stores, restaurants, and accessible transit. Suites feature luxury vinyl plank flooring, quartz countertops, stainless steel appliances, and in-suite laundry. The property also offers a fully equipped gym, EV charging stations, underground parking, dog run, and on-site amenity space including a social lounge with entertainment space, full kitchen, and dining area.
For rental inquiries, visit NorthPointNanaimo.ca.
Post-acquisition, Skyline Apartment REIT comprises 232 properties in 52 communities in seven provinces across Canada, with a total of 20,731 residential suites.
About Skyline
Skyline is a capital management company that acquires, develops, and manages real estate properties and renewable infrastructure assets, and offers them as private alternative investment products.
Skyline currently manages more than $9 billion* in assets across its real estate and renewable infrastructure platforms.
With approximately 1,000 employees across Canada, Skyline works to provide safe, clean, and comfortable places for tenants to call home, great places to do business, sustainable solutions for a greener future, and an engaging experience for its investors.
For more information about Skyline, please visit SkylineGroupOfCompanies.ca.
*As at June 30, 2025
For media inquiries, please contact:
Cindy BeverlyVice President, Marketing & Communications
Skyline
5 Douglas Street, Suite 301
Guelph, ON N1H 2S8
cbeverly@skylinegrp.ca