Property Case Study

Metro Vancouver Apartment Portfolio

SUMMARY

ADDRESSES 1629 Haro St, Vancouver, BC
720 Queens Ave,
New Westminster, BC
CONSTRUCTION TYPE Haro St - Concrete
Queens Ave - Woodframe
# OF UNITS 153 Combined
SITE SIZE Haro St - 8,646 SF
Queens Ave - 75,315 SF
SALE DATE Nov. 2019
SALE PRICE $43,500,000 (combined)
PURCHASER Institutional Investor

TRANSACTION DETAILS

The Metro Vancouver Apartment Portfolio represents the significant sale of two compelling and sizable rental apartment assets comprising a total of 153 rental units in Vancouver and New Westminster;

CBRE National Apartment Group - BC was mandated by the Vendor to seek a suitable and credible purchaser for two of their assets; one of which is a trophy concrete high-rise apartment in the West End of Vancouver, and the other being a sizable asset of scale on a substantial land footprint minutes away from the New Westminster waterfront;

Our Apartment sales team consulted the Vendor on their overall property portfolio and provided in-depth evaluations of property values on both existing improvements basis and underlying land value;

Following the comprehensive underwriting of the two assets, our team sourced the buyer and assisted the Vendor throughout the offer, negotiations, and due diligence process;

The end-result is that our Apartment Sales team successfully brokered and advised on the successful sale of the only rental concrete high-rise in Vancouver and the largest single-building rental apartment in New Westminster, to trade thus far in 2019, respectively.