"The increase in value of Skyline Apartment REIT's Units is due to its increased portfolio value which is the result of several factors including; capitalization rate compression, expense reduction, cash flows from new and existing properties and active management.", says the release.
The Skyline Apartment REIT continues to distribute $0.99 per unit annually, meaning the yield drops from 9% to 7.47% on the higher unit price. If returns are used in the DRIP program to acquire more units, then compounded monthly distributions provide a higher annual effective return. That is, (1+0.0747/12)^12 = 1.077 .. just over 7.7% per year.
The new yield is in line with that of Centurion Apartment REIT, which dropped after their most recent unit valuations - read increase. Private REITs continue to offer great returns, low volatility (no volatility?), tax efficient distributions, and the potential for capital appreciation - just like today!
PS - Private REITs are available to accredited investors.