Allied Properties REIT has sold 1220 Homer Street to a user group for $13,250,000, . The 4-storey, 19,384 SF heritage office building was originally built in 1947 but had been restored. The building was primarily vacant at the time of sale.
The sale price equates to $684/SF.
The building had originally been acquired in 2018 for $17,500,000, and a 3.40% cap rate.
1281 Broughton Street, a 31-unit building in the West End, has been sold by Reliance Properties to CAP REIT in a deal valued at $13,953,000, or $450,000 per unit.
The building is located on the Southwest corner of Broughton & Burnaby Street in the West End. The 8-storey concrete building was built in 1959 all all corner units with hardwood flooring. The building has laundry, storage, and some parking.
Details:
Lot size: 8,650 SF
| Unit Type | No. | Average Unit Size (Sq. Ft.) |
| One Bedroom | 27 | 727 |
| One Bedroom Penthouse | 1 | 915 |
| Two Bedroom | 2 | 910 |
| Two Bedroom Penthouse | 1 | 955 |
| Total | 31 |
The asking price for the property had been $15,900,000.
The property was listed and sold by CBRE.
Building rental listing “Twelve81”: https://www.capreit.ca/apartments-for-rent/vancouver-bc/the-twelve81/
A streetfront retail and office building on Main Street near East 28th Avenue in Vancouver has sold for $5,500,000 or $810 per SF. The property sits on a 66 x 100′ mid-block lot and was fully leased (with demo clauses) at the time of sale.
The building had been listed for sale for $5,600,000 and was sold by Dorset Realty.
A strata-titled retail and apartment building at 2023 West 4th Avenue has sold. The building contains 2 retail units and 8 residential units (five two-bedrooms and three one-bedrooms).
Property details:
The property was listed and sold by Lee & Associates. A brochure can be viewed here: https://leevancouver.com/wp-content/uploads/4th-Ave-W-2023-Lee-Investment-Sale.pdf
Goh Ballet Academy has submitted a rezoning application for the small corner site they currently own and operate at 2345 Main Street, at the Northwest corner of West 8th and Main in Mount Pleasant.
The existing building was formerly a Royal Bank building, built in 1912 that Goh Ballet took over in 1985. The site is 62′ x 100′ and is on the heritage register.
The site is located in the Main Street Village Area A subarea of the Broadway Plan, which enables the development of retail/service, office, residential, and cultural uses up to 6 storeys and 3 FSR. The retention of heritage assets and development of cultural spaces can enable additional building heights up to 8-9 storeys. The proposal is seeking relaxations due to its proximity to the upcoming Broadway Line Station.
The proposal calls for a redevelopment of the 6,181 SF site with a 26-storey student housing tower that includes:
This application is being considered under the Broadway Plan and requests consideration of density and height in excess of the existing policy.
The architect for the project is Align Architecture.
The full application can be viewed here: https://www.shapeyourcity.ca/2345-2349-main-st
First Capital REIT acquired by Choice Properties and KingSett for $5.2-billion
First Capital REIT --> Choice Properties REIT and Kingsett Capital are teaming up to acquire the Canadian real estate company in a deal valued at over $9 billion, including assumed debt. Choice Properties will acquire roughly five billion dollars worth of shopping centres, while
West Vancouver condo project in receivership, causing 'heartbreak' in Dundarave
Greater Vancouver commercial real estate transactions down 8.3% in 2025 via @westerninvestor
