CIBT Completes $30M Acquisition of Oakridge Tower Site
CIBT Education Group has completed the acquisition of three lots in the Oakridge area of Vancouver for $30,300,000. The 18,791 SF site is located on the North side of West 42nd Avenue just East of Cambie Street, and is in an area designated for towers up to 18-storeys.
CIBT recently filed a rezoning application for a 124-unit student housing project.
The sale price equates to $226 per buildable SF based on the rezoning application.
Own an apartment building in Metro Vancouver? I can provide a confidential opinion of current market value. — David Taylor, Colliers · 604-761-7044
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