[vc_row][vc_column width="1/3"][vc_text_separator title="SUMMARY" el_id="offering"][vc_column_text el_id="property_grid" css=".vc_custom_1587080559560{margin-bottom: 0px !important;}"]
ADDRESS
2154 & 2164 Dundas St, Vancouver, BC
# OF UNITS
21 Suites (Combined)
SITE SIZE
17,424 SF
SALE DATE
Oct 2018
SALE PRICE
$9,400,000
[/vc_column_text][/vc_column][vc_column width="2/3" el_class="property_content"][vc_text_separator title="TRANSACTION DETAILS" title_align="separator_align_left"][vc_column_text]The sale consisted of two separate properties which includes a three storey, 18-suite rental apartment building at 2154 Dundas Street and a 3-suite rental house, situated on a large rectangular shaped corner site comprising approximately 17,424 SF with 148.5 feet of prime frontage on Dundas Street.
2154 Dundas Street contains 18 suites and recently underwent an extensive retrofit which included updated plumbing and electrical and is currently 100% occupied. 2164 Dundas Street is a rental house containing 3 self-contained two and three bedroom suites. The property has a new roof, some interior improvements and is currently vacant, providing the purchaser with flexibility while considering redevelopment.
The Subject Property is currently zoned RM-3A and is situated within the “Cedar Cove Dundas Shopping Node” of the recently approved Grandview-Woodland Community Plan. The Cedar Cove Dundas Shopping Node allows for a mixed-used development for 100% secured rental building up to 6-storeys with a density up to 2.65 FSR.[/vc_column_text][/vc_column][/vc_row][vc_row full_width="stretch_row" disable_element="yes" css=".vc_custom_1523919993135{background-color: #f2f2f2 !important;}"][vc_column el_id="location"][vc_text_separator title="Location"][vc_column_text]The “Garden Manor Apartments” is strategically located on the northwest corner of Garden Avenue and Triumph Street within East Vancouver’s trendy Grandview Woodland Neighborhood. The subject property is just minutes from Downtown Vancouver, the Trans-Canada Highway, the North Shore and Vancouver Harbour. Garden Manor is within walking distance to the transforming East Hastings Corridor, which is being rejuvenated with numerous planned mixed-use developments comprising a complementary mix of residential, retail, shops and services. The property is also conveniently located just a few blocks from Commercial Drive comprising an electric mix of restaurants, specialty shops & services, grocery and many other tenant-friendly amenities.
The recent influx and transformation of the area surrounding the subject property has attracted new retailers and notable hot spots such as JJ Bean Coffee Roasters, Parallel 49 Brewing Company, The Red Wagon and the Tacofino Commissary, which are all located in close proximity to the Garden Manor Apartments.
2285 Triumph Street's close proximity to Downtown Vancouver, walking distance to an excellent cross section of tenant-friendly amenities and its location in a safe, quiet and friendly neighborhood will continue to attract and retain quality tenants.
[/vc_column_text][/vc_column][/vc_row]
[vc_row][vc_column width="1/3"][vc_text_separator title="SUMMARY" el_id="offering"][vc_column_text el_id="property_grid" css=".vc_custom_1587167963559{margin-bottom: 0px !important;}"]
# OF BUILDINGS
4 Rental Apartment Buildings
# OF SUITES
169 Total
SALE DATE
Jan 2016
SALE PRICE
$29,000,000
[/vc_column_text][/vc_column][vc_column width="2/3" el_class="property_content"][vc_text_separator title="TRANSACTION DETAILS" title_align="separator_align_left"][vc_column_text]The Portfolio consisted of 4 wood-frame buildings with combined 169 units, strategically located in Victorias prestigious Fairfield and Fernwood neighbourhoods and all within a 5 minute drive from each other, providing both management and maintenance efficiencies. All buildings were well maintained and managed, with significant capital upgrades having been completed in recent years prior to the sale.
The Team lead by Lance Coulson, Chris Rust, and Ross Marshall represented both the Vendor and the Purchaser in the successful transaction. Our teams extensive experience and knowledge of the Victoria market combined with our unique marketing campaign, which properly exposed the property to prospective purchasers in both Victoria and Greater Vancouver, allowed us to attract the ideal buyer.[/vc_column_text][/vc_column][/vc_row][vc_row full_width="stretch_row" disable_element="yes" css=".vc_custom_1523919993135{background-color: #f2f2f2 !important;}"][vc_column el_id="location"][vc_text_separator title="Location"][vc_column_text]The “Garden Manor Apartments” is strategically located on the northwest corner of Garden Avenue and Triumph Street within East Vancouver’s trendy Grandview Woodland Neighborhood. The subject property is just minutes from Downtown Vancouver, the Trans-Canada Highway, the North Shore and Vancouver Harbour. Garden Manor is within walking distance to the transforming East Hastings Corridor, which is being rejuvenated with numerous planned mixed-use developments comprising a complementary mix of residential, retail, shops and services. The property is also conveniently located just a few blocks from Commercial Drive comprising an electric mix of restaurants, specialty shops & services, grocery and many other tenant-friendly amenities.
The recent influx and transformation of the area surrounding the subject property has attracted new retailers and notable hot spots such as JJ Bean Coffee Roasters, Parallel 49 Brewing Company, The Red Wagon and the Tacofino Commissary, which are all located in close proximity to the Garden Manor Apartments.
2285 Triumph Street's close proximity to Downtown Vancouver, walking distance to an excellent cross section of tenant-friendly amenities and its location in a safe, quiet and friendly neighborhood will continue to attract and retain quality tenants.
[/vc_column_text][/vc_column][/vc_row]
[vc_row][vc_column width="1/3"][vc_text_separator title="SUMMARY" el_id="offering"][vc_column_text el_id="property_grid" css=".vc_custom_1587166204336{margin-bottom: 0px !important;}"]
# OF BUILDINGS
22 Rental Apartment Buildings
# OF SUITES
919 Total
SALE DATE
Sept 2015
SALE PRICE
$170,000,000
BUYER
CAPREIT
[/vc_column_text][/vc_column][vc_column width="2/3" el_class="property_content"][vc_text_separator title="TRANSACTION DETAILS" title_align="separator_align_left"][vc_column_text]The Western Investment Properties (WIP) Portfolio comprised of 19 properties improved with 22 rental apartment buildings with a combined total of 919 apartment units. The properties are all centrally located in 7 proven Greater Vancouver rental markets with strong population growth and low vacancy rents, providing the purchaser a secure income stream with unlimited growth potential. Each of the buildings had benefited from significant capital improvements and renovations that turned rental units into homes, and allowed each to attract and retain quality tenants.
Lance Coulson of the National Apartment Group - BC, along with fellow brokers Tony Quattrin and Jim Szazbo represented the seller, a private equity firm, in a bid process that saw significant interested from private and institutional investors. Ultimately, the portfolio was acquired by Canadian Apartment Properties REIT for $170M in 2015.
The sale of this premier portfolio represented BCs largest ever one-time multifamily portfolio trade.
This sale was featured in BISNOW - Click here to read the article.[/vc_column_text][/vc_column][/vc_row][vc_row full_width="stretch_row" disable_element="yes" css=".vc_custom_1523919993135{background-color: #f2f2f2 !important;}"][vc_column el_id="location"][vc_text_separator title="Location"][vc_column_text]The “Garden Manor Apartments” is strategically located on the northwest corner of Garden Avenue and Triumph Street within East Vancouver’s trendy Grandview Woodland Neighborhood. The subject property is just minutes from Downtown Vancouver, the Trans-Canada Highway, the North Shore and Vancouver Harbour. Garden Manor is within walking distance to the transforming East Hastings Corridor, which is being rejuvenated with numerous planned mixed-use developments comprising a complementary mix of residential, retail, shops and services. The property is also conveniently located just a few blocks from Commercial Drive comprising an electric mix of restaurants, specialty shops & services, grocery and many other tenant-friendly amenities.
The recent influx and transformation of the area surrounding the subject property has attracted new retailers and notable hot spots such as JJ Bean Coffee Roasters, Parallel 49 Brewing Company, The Red Wagon and the Tacofino Commissary, which are all located in close proximity to the Garden Manor Apartments.
2285 Triumph Street's close proximity to Downtown Vancouver, walking distance to an excellent cross section of tenant-friendly amenities and its location in a safe, quiet and friendly neighborhood will continue to attract and retain quality tenants.
[/vc_column_text][/vc_column][/vc_row]
[vc_row][vc_column width="1/3"][vc_text_separator title="SUMMARY" el_id="offering"][vc_column_text el_id="property_grid" css=".vc_custom_1587168865744{margin-bottom: 0px !important;}"]
# 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
[/vc_column_text][/vc_column][vc_column width="2/3" el_class="property_content"][vc_text_separator title="TRANSACTION DETAILS" title_align="separator_align_left"][vc_column_text]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.[/vc_column_text][/vc_column][/vc_row][vc_row full_width="stretch_row" disable_element="yes" css=".vc_custom_1523919993135{background-color: #f2f2f2 !important;}"][vc_column el_id="location"][vc_text_separator title="Location"][vc_column_text]The “Garden Manor Apartments” is strategically located on the northwest corner of Garden Avenue and Triumph Street within East Vancouver’s trendy Grandview Woodland Neighborhood. The subject property is just minutes from Downtown Vancouver, the Trans-Canada Highway, the North Shore and Vancouver Harbour. Garden Manor is within walking distance to the transforming East Hastings Corridor, which is being rejuvenated with numerous planned mixed-use developments comprising a complementary mix of residential, retail, shops and services. The property is also conveniently located just a few blocks from Commercial Drive comprising an electric mix of restaurants, specialty shops & services, grocery and many other tenant-friendly amenities.
The recent influx and transformation of the area surrounding the subject property has attracted new retailers and notable hot spots such as JJ Bean Coffee Roasters, Parallel 49 Brewing Company, The Red Wagon and the Tacofino Commissary, which are all located in close proximity to the Garden Manor Apartments.
2285 Triumph Street's close proximity to Downtown Vancouver, walking distance to an excellent cross section of tenant-friendly amenities and its location in a safe, quiet and friendly neighborhood will continue to attract and retain quality tenants.
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[vc_row][vc_column width="1/3"][vc_text_separator title="Summary" el_id="offering"][vc_column_text el_id="property_grid" css=".vc_custom_1616003363262{margin-bottom: 0px !important;}"]
CIVIC ADDRESS
1585 Oak Bay Avenue, Victoria, BC
PARCEL IDENTIFIER
003-479-471
SITE SIZE
10,266 SF*
*approximate & subject to verification
SUITE MIX
Bachelor x 4
1-Bed x 8
2-bed x 1
Total = 13
CURRENT ZONING
R3-A2
LAND USE DESIGNATION
Large Urban Village
POTENTIAL DENSITY
2.50 FSR up to 6 storeys
STATUS
SOLD
[/vc_column_text][vc_column_text css_animation="fadeInLeft" css=".vc_custom_1539734131148{margin-bottom: 0px !important;padding-top: 10px !important;padding-right: 10px !important;padding-bottom: 10px !important;padding-left: 10px !important;background-color: #000000 !important;}" el_class="schedule_appointment"]
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[/vc_column_text][vc_column_text css_animation="fadeInUp" css=".vc_custom_1564424721379{padding-top: 10px !important;padding-right: 10px !important;padding-bottom: 10px !important;padding-left: 10px !important;background-color: #bfd857 !important;}" el_class="brochure"] Download Brochure[/vc_column_text][/vc_column][vc_column width="2/3"][vc_text_separator title="The Opportunity" title_align="separator_align_left"][vc_column_text]The CBRE National Apartment Group - BC has been retained by the Owner on an exclusive basis to offer the 100% interest in the Oak Heights Apartments, a well maintained, 13-suite rental apartment building centrally located in the highly desirable Stadacona Village area of Rockland in Victoria, BC.
Investment Highlights
Central Location: easy access to Downtown, the University of Victoria, and public transportation & numerous amenities within walking distance.
Development Potential: Designated as Large Urban Village under the Victoria OCP, allowing potential future redevelopment up to 6-storeys including row homes, apartments, freestanding commercial & mixed-use buildings
Well Maintained: The property has been well maintained by the current long term owner who has completed suite updates, addressed capital expenditure items, and installed maintenance free landscaping.
Rental Upside: Suites generating below market rents offer prospective investors the opportunity to significantly improve rental revenue and yield by increasing rents to market rates at turnover.
[/vc_column_text][vc_text_separator title="Location Highlights" title_align="separator_align_left"][vc_column_text]The Oak Heights Apartments is centrally located in the highly desirable Rockland neighbourhood of Victoria, BC, at the corner of Oak Bay Avenue and Fort Street. In addition to excellent public transportation along Oak Bay Avenue, with a main bus line to Downtown Victoria directly across the street, tenants enjoy quick and easy access to a significant cross section of local shops, services, restaurants, and parks.[/vc_column_text][/vc_column][/vc_row][vc_row][vc_column][/vc_column][/vc_row][vc_row][vc_column][/vc_column][/vc_row][vc_row][vc_column][/vc_column][/vc_row][vc_row][vc_column][vc_text_separator title="Contact" title_align="separator_align_left"][vc_row_inner][vc_column_inner width="1/3"][vc_column_text]
LANCE COULSON
Personal Real Estate Corporation
Executive Vice President
T +1 604 662 5141
lance.coulson@cbre.com
[/vc_column_text][/vc_column_inner][vc_column_inner width="1/3"][vc_column_text]
GREG AMBROSE
Senior Sales Associate
T +1 604 662 5178
greg.ambrose@cbre.com
[/vc_column_text][/vc_column_inner][vc_column_inner width="1/3"][vc_column_text][/vc_column_text][/vc_column_inner][/vc_row_inner][/vc_column][/vc_row]
[vc_row][vc_column width="1/3"][vc_text_separator title="Summary" el_id="offering"][vc_column_text el_id="property_grid" css=".vc_custom_1570838893454{margin-bottom: 0px !important;}"]
CIVIC ADDRESS
103 N Templeton Drive & 2185 Oxford Street, Vancouver, BC
SITE SIZE
12,078 SF (combined)
SUITE MIX
103 N Templeton
2-bed 5 (total)
2185 Oxford
Studio 1
1-bed 7
Total 8
CURRENT ZONING
RM3-A
OCP DESIGNATION
Cedar Cove Residential Core Land Use
CURRENT NOI
103 N Templeton: $154,426
2185 Oxford: $128,980
CAP RATE
3.7%
LIST PRICE
$7,590,000 (Combined)
[/vc_column_text][vc_column_text css_animation="fadeInLeft" css=".vc_custom_1539734131148{margin-bottom: 0px !important;padding-top: 10px !important;padding-right: 10px !important;padding-bottom: 10px !important;padding-left: 10px !important;background-color: #000000 !important;}" el_class="schedule_appointment"]
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[/vc_column_text][vc_column_text css_animation="fadeInUp" css=".vc_custom_1571159029566{padding-top: 10px !important;padding-right: 10px !important;padding-bottom: 10px !important;padding-left: 10px !important;background-color: #bfd857 !important;}" el_class="brochure"] Download Brochure[/vc_column_text][/vc_column][vc_column width="2/3"][vc_text_separator title="The Opportunity" title_align="separator_align_left"][vc_column_text]The CBRE National Apartment Group – BC is pleased to present the opportunity to acquire two recently renovated rental buildings located adjacent to one another at 103 N. Templeton Drive and 2185 Oxford Street in the heart of East Vancouver. Both buildings have undergone extensive renovations including: brand new roofs & flashing systems, plumbing upgrades, improved landscaping & exterior upgrades, and condo-quality suite improvements which include stainless steel appliances.
The offering represents an opportunity to acquire an excellent cash-flow producing properties with an appealing initial cap rate, minimal deferred maintenance, and future redevelopment potential under the Grandview-Woodland Community Plan.
The two buildings are situated on a 12,078 sq.ft. corner property at Oxford Street and N. Templeton Drive in the Cedar Cove sub-neighbourhood in Grandview Woodland’s Official Community Plan (OCP), which allows for redevelopment of up to 6-storeys with a maximum density of 2.4 FSR.
The Properties are being sold as a portfolio, however the vendor will consider offers on individual properties.[/vc_column_text][vc_column_text]
103 North Templeton Drive
Contemporary 5-suite rental townhouse building comprised of large 2-storey plus basement 2-bedroom suites with individual entrance ways and full size in-suite laundry;
These large townhouses have fully renovated bathrooms and kitchens, a rare and unique rental property for tenants requiring larger units;
Extremely efficient with little to no common area and individual gas and hydro meters for each unit;
In 2018, the building received a number of capital improvements, including plumbing upgrades, extensive kitchen renovations, new flooring, and new electrical breaker panels to name a few. Please download the brochure to review the full list of updates.
2185 Oxford Street
A boutique 2-storey, 8-suite rental apartment building comprised mainly of one-bed corner suites;
An efficient building with tenants paying for their own hydro and hot water, including efficient domestic hot water tanks in each suite;
Building includes common Laundry room facilities, bike storage and 5 surface-level parking spots at the rear of the building;
In 2018, the building received a number of capital improvements which include full kitchen and bathroom renovations, brand new electrical, full re-pipe of plumbing, and extensive exterior upgrades to name a few. Please download the brochure to review the full list of updates.
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Prime East Vancouver Location
[/vc_column_text][vc_single_image image="3136" img_size="full" alignment="center" css_animation="fadeIn"][vc_column_text css_animation="fadeInLeft" css=".vc_custom_1539734131148{margin-bottom: 0px !important;padding-top: 10px !important;padding-right: 10px !important;padding-bottom: 10px !important;padding-left: 10px !important;background-color: #000000 !important;}" el_class="schedule_appointment"]
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The Subject Properties are well located in East Vancouver's trendy Hastings-Sunrise Neighbourhood, just minutes from the eclectic area known as "Port Town", offering some of the best shops, restaurants, cafes, and craft breweries in Vancouver.
The Subject Properties are situated just minutes from Downtown Vancouver, East Hastings Street and Highway 1, providing convenient access throughout Vancouver and neighboring municipalities.
With one of the lowest vacancy rates in Metro Vancouver at 0.6% (CMHC 2018), coupled with historically high occupancy & consistent appreciation in multi-family property values, The Subject Properties offer prospective purchasers with a secure long-term investment opportunity.
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[/vc_column_text][/vc_column][/vc_row][vc_row content_placement="middle"][vc_column][vc_text_separator title="Property Photos" title_align="separator_align_left"][vc_gallery type="image_grid" images="3128,3129,3130,3131,3132,3133,3135,3138" img_size=""][vc_column_text css_animation="fadeInLeft" css=".vc_custom_1539734131148{margin-bottom: 0px !important;padding-top: 10px !important;padding-right: 10px !important;padding-bottom: 10px !important;padding-left: 10px !important;background-color: #000000 !important;}" el_class="schedule_appointment"]
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[/vc_column_text][vc_column_text css_animation="fadeInUp" css=".vc_custom_1571159029566{padding-top: 10px !important;padding-right: 10px !important;padding-bottom: 10px !important;padding-left: 10px !important;background-color: #bfd857 !important;}" el_class="brochure"] Download Brochure[/vc_column_text][/vc_column][/vc_row][vc_row][vc_column][vc_text_separator title="Contact" title_align="separator_align_left"][vc_row_inner][vc_column_inner width="1/3"][vc_column_text]
LANCE COULSON
Personal Real Estate Corporation
Executive Vice President
T +1 604 662 5141
lance.coulson@cbre.com
[/vc_column_text][/vc_column_inner][vc_column_inner width="1/3"][vc_column_text]
GREG AMBROSE
Senior Sales Associate
T +1 604 662 5178
greg.ambrose@cbre.com
[/vc_column_text][/vc_column_inner][vc_column_inner width="1/3"][vc_column_text][/vc_column_text][/vc_column_inner][/vc_row_inner][/vc_column][/vc_row]
[vc_row][vc_column width="1/3"][vc_text_separator title="Summary" el_id="offering"][vc_column_text el_id="property_grid" css=".vc_custom_1568156822162{margin-bottom: 0px !important;}"]
CIVIC ADDRESS
155 East 19th Street, North Vancouver, BC
PARCEL IDENTIFIER
014-940-124
SITE SIZE
18,480 SF*
(131 x 141 ft)
*All measurements are approximate
SUITE MIX
14 x Bachelor
15 x 1 Bedroom
29 Suites Total
OCP DESIGNATION
Residential Level 5 - Medium Density
OCP DENSITY
2.6x FSR (1.6x base + 1.0x bonus), maximum 6-storeys
ASSESSED VALUE (2018)
$10,755,000
STATUS
FIRM DEAL
[/vc_column_text][vc_column_text css_animation="fadeInLeft" css=".vc_custom_1539734131148{margin-bottom: 0px !important;padding-top: 10px !important;padding-right: 10px !important;padding-bottom: 10px !important;padding-left: 10px !important;background-color: #000000 !important;}" el_class="schedule_appointment"]
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[/vc_column_text][vc_column_text css_animation="fadeInUp" css=".vc_custom_1556663335706{padding-top: 10px !important;padding-right: 10px !important;padding-bottom: 10px !important;padding-left: 10px !important;background-color: #bfd857 !important;}" el_class="brochure"] Download Brochure[/vc_column_text][/vc_column][vc_column width="2/3"][vc_text_separator title="The Opportunity" title_align="separator_align_left"][vc_column_text]The CBRE National Apartment Group - BC is pleased to present the opportunity to acquire The Wyndwood Apartments, a 3-storey, 29-Suite Rental Apartment building situated on a large 18,480 SF Site, conveniently located in the Central Londsdale neighbourhood of North Vancouver. This is an incredibly compelling opportunity in a city that features a 0.8% vacancy rate with average rental rates approaching $1,424.
The Property is conveniently located less than 200 meters away from the Lonsdale Corridor, providing access to transit and an excellent cross-section of tenant friendly amenities. The Property boasts a desirable suite mix, which includes 14 one-bedroom suites and 15 two-bedroom suites, all of which were extensively renovated in 2009 with some receiving either new kitchen cabinets or new cabinet doors, bathroom cabinets, new flooring, and some appliance replacements.
The Subject Property is designated as Residential Level 5, which is intended for Medium Density Mid-Rise Apartments under the City of North Vancouver’s Official Community Plan, providing excellent future redevelopment potential.
Lonsdale Avenue is one of the main arterial roads in North Vancouver and has some of the best amenities that the North Shore has to offer, many of which are within walking distance of the Wyndwood Apartments, including: Loblaws City Market, Browns Social House, London Drugs, Starbucks, plus number of financial institutions, fitness centers, cafes & bakeries, The Public Library, and Lions Gate Hospital just down the street.[/vc_column_text][vc_column_text][/vc_column_text][/vc_column][/vc_row][vc_row][vc_column][vc_text_separator title="Property Photos" title_align="separator_align_left"][/vc_column][/vc_row][vc_row][vc_column][vc_gallery type="image_grid" images="2763,2764,2765,2766,2767" img_size="225 x 275"][/vc_column][/vc_row][vc_row][vc_column][vc_text_separator title="Contact" title_align="separator_align_left"][vc_row_inner][vc_column_inner width="1/3"][vc_column_text]
LANCE COULSON
Personal Real Estate Corporation
Executive Vice President
T +1 604 662 5141
lance.coulson@cbre.com
[/vc_column_text][/vc_column_inner][vc_column_inner width="1/3"][vc_column_text]
GREG AMBROSE
Senior Sales Associate
T +1 604 662 5178
greg.ambrose@cbre.com
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CIVIC ADDRESS
13555 96 Avenue, Surrey, BC
PARCEL IDENTIFIER
029-902-975
YEAR BUILT
2018
SITE SIZE
49,901 Sq. Ft.*
*All measurements are approximate
SUITE MIX
125 x One Bedroom Suites
12 x One Bedroom + Den Suites
9 x Two Bedroom + Den Suites
146 Suites Total
PARKING
169 Stalls
BIKE PARKING
292 stalls + 6 visitor stalls
STATUS
FIRM DEAL
[/vc_column_text][/vc_column][vc_column width="2/3"][vc_text_separator title="The Opportunity" title_align="separator_align_left"][vc_column_text]The Fusion Apartments is a newly built, luxury 146-suite purpose-built rental apartment building conveniently located on "The George" in Surreys vibrant urban center, just minutes from King George SkyTrain station and an abundance of amenities.
The area is rapidly developing with a new medical technology hub, a growing financial district, and is in close proximity to some of the top post-secondary institutions, including Simon Fraser University. Fusion Apartments is conveniently located near Highway 1, connecting tenants to Downtown Vancouver in approximately 45 minutes. Additionally, King George SkyTrain station is a short walk from the property, providing convenient access to Downtown Vancouver and other municipalities along the Expo Line. With its modern design and ideal location in Surreys Urban center, Fusion truly is the perfect mix of comfort, luxury, and convenience.[/vc_column_text][vc_text_separator title="Building Features" title_align="separator_align_left"][vc_column_text]
Modern, well laid-out suites with professionally designed interiors to maximize comfort and efficiency;
Fully equipped kitchens with stainless steel appliances including refrigerators, stoves, and dishwashers, custom designed cabinetry, modern chrome pulls, white porcelain tile backsplash, and quartz counter tops;
Suite highlights include: premium wide plank laminate flooring, in-suite laundry, keyless suite entry, and spacious balconies and terraces;
Select units come with 12’ high ceilings;
European styled bathrooms are equipped with beautifully designed cabinets, polished chrome plumbing fixtures, large porcelain floor and shower wall tiles, and a spacious soaker tub;
Average suite sizes range from 484 Sq. Ft. - 1,300 Sq. Ft., with a suite mix consisting of: one-bedroom suites, one bedroom + den suites, and 2 bedroom + den suites;
3 Levels of underground parking providing a total of 169 parking stalls.
[/vc_column_text][/vc_column][/vc_row][vc_row][vc_column][vc_text_separator title="Property Photos" title_align="separator_align_left"][/vc_column][/vc_row][vc_row][vc_column][vc_gallery type="image_grid" images="3064,3065,3066,3067" img_size="280 X 280"][/vc_column][/vc_row][vc_row][vc_column][vc_text_separator title="Contact" title_align="separator_align_left"][vc_row_inner][vc_column_inner width="1/3"][vc_column_text]
LANCE COULSON
Personal Real Estate Corporation
Executive Vice President
T +1 604 662 5141
lance.coulson@cbre.com
[/vc_column_text][/vc_column_inner][vc_column_inner width="1/3"][vc_column_text]
GREG AMBROSE
Senior Sales Associate
T +1 604 662 5178
greg.ambrose@cbre.com
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[vc_row][vc_column width="1/3"][vc_text_separator title="Summary" el_id="offering"][vc_column_text el_id="property_grid" css=".vc_custom_1558128356875{margin-bottom: 0px !important;}"]
CIVIC ADDRESS
9635 137th Street, Surrey, BC
PARCEL IDENTIFIER
009-708-197
SITE AREA
7,200 Sq. Ft.
*approximate
BUILDING SIZE
5,600 Sq. Ft.
LEASE TERM
10 years with 1x5 year option to renew
ADDITIONAL RENT
$9,00 per Sq. Ft.
NET OPERATING INCOME
$132,111 (years 1-3)
$134,400 (years 3-6)
$140,000 (Years 6-9)
$145,599 ( Year 10)
CAP RATE
3.77%
STATUS
FIRM DEAL
[/vc_column_text][vc_column_text css_animation="fadeInLeft" css=".vc_custom_1539734131148{margin-bottom: 0px !important;padding-top: 10px !important;padding-right: 10px !important;padding-bottom: 10px !important;padding-left: 10px !important;background-color: #000000 !important;}" el_class="schedule_appointment"]
Request More Information
[/vc_column_text][vc_column_text css_animation="fadeInUp" css=".vc_custom_1555372523149{padding-top: 10px !important;padding-right: 10px !important;padding-bottom: 10px !important;padding-left: 10px !important;background-color: #bfd857 !important;}" el_class="brochure"] Download Brochure[/vc_column_text][/vc_column][vc_column width="2/3"][vc_text_separator title="The Opportunity" title_align="separator_align_left"][vc_column_text]CBRE Investment Properties Group is pleased to present the opportunity to acquire a newly constructed, free standing fully leased medical building in the heart of the new Health & Technology District in Surrey City Center, directly across from Surrey Memorial Hospital & BC Cancer Agency.
The offering comprises a free standing 3 level building with approximately 5,600 sqft. of leaseable space. 8 parking stalls dedicated at the rear of the building exclusively for customers/patients and an full service elevator.
The Subject Property is less than a six minute walk to King George Skytrain Station the building is located directly across the street from the 450,000 sqft. CC1 medical and professional three phase development. CC1 was completed in 2014 and is compromised of 180,000 sqft. Over 11 storeys of office space and ground floor retail.
The current tenant of the property is CBI Health Group - the largest provided of community healthcare services in Canada. They have signed a 10 year term with escalating net rents. The lease is fully triple net with the tenants paying all operating expenses.[/vc_column_text][vc_row_inner][vc_column_inner][vc_text_separator title="Property Photos" title_align="separator_align_left"][vc_gallery type="image_grid" images="2732,2733" img_size="365 x 275"][/vc_column_inner][/vc_row_inner][/vc_column][/vc_row][vc_row][vc_column][vc_empty_space][/vc_column][/vc_row][vc_row][vc_column][vc_column_text][/vc_column_text][vc_empty_space][/vc_column][/vc_row][vc_row][vc_column][vc_text_separator title="Contact" title_align="separator_align_left"][vc_row_inner][vc_column_inner width="1/3"][vc_column_text]
LINO DEMARCHI
Sales Representative
CBRE Limited, Capital Markets
T +1 604 662 5101
lino.demarchi@cbre.com
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LANCE COULSON
Personal Real Estate Corporation
Executive Vice President
CBRE Limited, Capital Markets
T +1 604 662 5141
lance.coulson@cbre.com
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[vc_row][vc_column width="1/3"][vc_text_separator title="SUMMARY" el_id="offering"][vc_column_text el_id="property_grid" css=".vc_custom_1554158709294{margin-bottom: 0px !important;}"]
STATUS
FIRM DEAL
YEAR BUILT
1964
SITE SIZE
21,600 SF
SUITE MIX
7 X One Bedroom
10 X Two Bedroom
3 X Three Bedroom
Total = 20 Suites
NOI
$170,973
PRICE PER SUITE
$220,000
CAP RATE
Current: 3.88%
Potential: 5.73%
[/vc_column_text][vc_column_text css_animation="fadeInLeft" css=".vc_custom_1539734763826{margin-bottom: 0px !important;padding-top: 10px !important;padding-right: 10px !important;padding-bottom: 10px !important;padding-left: 10px !important;background-color: #000000 !important;}" el_class="schedule_appointment"]
Request More Information
[/vc_column_text][vc_column_text css_animation="fadeInUp" css=".vc_custom_1554158787382{padding-top: 10px !important;padding-right: 10px !important;padding-bottom: 10px !important;padding-left: 10px !important;background-color: #bfd857 !important;}" el_class="brochure"] Download Brochure[/vc_column_text][/vc_column][vc_column width="2/3" el_class="property_content"][vc_text_separator title="The Offering" title_align="separator_align_left"][vc_column_text]The CBRE National Apartment Group has been retained by the Owner on an exclusive basis to offer the 100% interest in the “Columbia Apartments,” a fully leased, well-maintained 20-suite rental apartment building conveniently located in Greater Victoria in the Township of Esquimalt. The offering represents the opportunity for investors to acquire an apartment building with an excellent suite mix with significant upside potential to increase cash-flow and yield by moving rents to market on turnover. Furthermore, Esquimalt’s OCP is currently under review and the large 21,600 Sq. Ft. property may offer future redevelopment potential.[/vc_column_text][vc_text_separator title="Location" title_align="separator_align_left"][vc_column_text]Located in the Township of Esquimalt, The Columbia Apartments is centrally located just minutes from Victoria’s vibrant downtown core, the Parliament Buildings and Victoria’s Inner Harbor. The City of Victoria is the capital of British Columbia and is located on the southern tip of Vancouver Island, overlooking the Strait of Juan de Fuca.
The property’s location also provides convenient access to Langford, one of Victoria’s fastest growing communities and benefits from being directly on public transportation providing tenants with transportation options for work and shopping. Furthermore, the property is situated directly across the street from Victoria’s infamous Galloping Goose Trail, a bicycle and pedestrian-friendly trail network connecting Langford and a number of other neighborhoods to downtown Victoria.[/vc_column_text][/vc_column][/vc_row][vc_row full_width="stretch_row" disable_element="yes" css=".vc_custom_1523919993135{background-color: #f2f2f2 !important;}"][vc_column el_id="location"][vc_text_separator title="Location"][vc_column_text]The “Garden Manor Apartments” is strategically located on the northwest corner of Garden Avenue and Triumph Street within East Vancouver’s trendy Grandview Woodland Neighborhood. The subject property is just minutes from Downtown Vancouver, the Trans-Canada Highway, the North Shore and Vancouver Harbour. Garden Manor is within walking distance to the transforming East Hastings Corridor, which is being rejuvenated with numerous planned mixed-use developments comprising a complementary mix of residential, retail, shops and services. The property is also conveniently located just a few blocks from Commercial Drive comprising an electric mix of restaurants, specialty shops & services, grocery and many other tenant-friendly amenities.
The recent influx and transformation of the area surrounding the subject property has attracted new retailers and notable hot spots such as JJ Bean Coffee Roasters, Parallel 49 Brewing Company, The Red Wagon and the Tacofino Commissary, which are all located in close proximity to the Garden Manor Apartments.
2285 Triumph Street's close proximity to Downtown Vancouver, walking distance to an excellent cross section of tenant-friendly amenities and its location in a safe, quiet and friendly neighborhood will continue to attract and retain quality tenants.
[/vc_column_text][/vc_column][/vc_row][vc_row][vc_column width="1/3"][vc_text_separator title="Contact" title_align="separator_align_left"][vc_column_text]Lance Coulson
Personal Real Estate Corporation
Executive Vice President
T +1 604 662 5141
lance.coulson@cbre.com[/vc_column_text][vc_column_text]
GREG AMBROSE
Senior Sales Associate
T +1 604 662 5178
greg.ambrose@cbre.com
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Walk Score
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Transit Score
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