Property Case Study

The Point

SUMMARY

ADDRES 5393 201 Street, Langley, BC
YEAR BUILT 2019
# OF UNITS 98
SITE SIZE 53,205 SF
SALE DATE June 2019
SALE PRICE $39,000,000
DEAL TYPE Partial forward sale
PURCHASER Institutional Investor

TRANSACTION DETAILS

Brand new 4-storey wood-frame, 98-suite purpose-built rental apartment building located on 201 Street in the heart of Langley, BC.

The Point is a luxury rental apartment building consisting of desirable amenities such as advanced security system, secured bike storage, large storage lockers, fully equipped fitness centre, entertainment room and theatre room.”

CBRE National Apartment Group – BC successfully brokered the partial “forward sale” of The Point, in an off-market transaction between a local developer and an institutional buyer

Our team was engaged throughout the transaction process, from providing guidance on achievable rents/stabilized income to the thorough due diligence process, and we were able to assist with deriving a sale value and projected cap rate that satisfied both the Vendor and the end-buyer

The sale of The Point Apartments was featured in the News; click the links below to read the articles:

Vancouver Sun | Western Investor