Property Case Study

Boardwalk Portfolio

SUMMARY

# OF BUILDINGS 13 Buildings
# OF RENTAL SUITES 169 Total
SF COMMERCIAL SPACE 45,617 SQ.FT. Retail/Commercial Podium
SALE DATE June 2014
SALE PRICE $140,000,000

TRANSACTION DETAILS

The Boardwalk REIT Apartment Portfolio comprised 2 concrete high-rise towers located in Burnaby, 1 concrete high-rise tower in addition to 45,617 Sq. Ft. of commercial space located in Surrey Village, plus 5 low-rise and 4 townhouse buildings located in Greater Victoria for a total of 633 units.

The sale of the Boardwalk REIT Apartment Portfolio was the only portfolio of this caliber available for sale in BC at the time and is the largest multi-family portfolio sale to transact in British Columbia in 2014.

The CBRE National Apartment Group - Vancouver and the CBRE National Investment Team - Vancouver executed a unique three phased marketing plan that exposed the subject properties to prospective purchasers across North America and Internationally, resulting in significant interest and the successful sale of the Portfolio.