Vancouver Apartment Portfolio Sells for $51,000,000
A portfolio of five apartment buildings that was offered for sale in 2013 has sold to a private investor from China, now based in Vancouver. The 5-building, 193 unit portfolio of buildings in the West End and North Vancouver sold at a blended average cap rate of approx. 3.75%.
The largest and most prominent building among the five assets, is Pacific Beach Apartments, a 56-unit concrete highrise located at Jervis and Beach Avenue. The building sold for $15,200,000, representing $272,000 per unit.
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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