Sale Price: $48,000,000
Price per Unit: $842,105
Cap Rate: 4.7%
Building Size: 75,120 SF (57 units, average 1,318 SF)
Lot Size: 9.44 acres

Known as Twin Lakes Estates, the property spans seven two-storey, wood-frame buildings originally constructed in 1971. The unit mix is exclusively family-sized, with 13 two-bedroom suites averaging 1,050 sq. ft. and 44 three-bedroom suites averaging 1,350 sq. ft. Each unit includes in-suite laundry, a fireplace, and 2.5 bathrooms, and the site offers 117 outdoor parking stalls — roughly half covered by carports.

The vendor, a joint venture between KingSett Capital and Starlight Investments (through IMH Twin Lakes Apartment Ltd.), had acquired the asset in April 2022 for total consideration of $52,500,000, or $921,053 per unit. Since then, the ownership group invested over $1.5 million in capital upgrades — approximately $918,000 renovating 45 of the 57 townhomes (79% of the portfolio) and roughly $646,000 on exterior common area, structural, and mechanical improvements.

Despite that repositioning spend, the current sale price per unit came in below the 2022 acquisition basis, underscoring the cap rate expansion that’s worked through Metro Vancouver’s institutional multifamily market over the past several years. The deal closed with Manulife Financial identified as purchaser.

At $842,105 per unit, Twin Lakes priced well above the broader North Vancouver apartment average of roughly $465,000 per unit — a premium attributable to the property’s low-density, garden-style townhouse format, its 9.44 acres of RM-5-zoned land, and an unusually stable, family-oriented tenant base that’s supported strong long-term occupancy.

JLL listed and sold the property: https://invest.jll.com/ca/en/listings/living-multi-housing/twin-lakes-townhomes-north-vancouver

A two-storey concrete office building in Vancouver’s Armoury District has sold for $6,250,000, representing a price of $868 per square foot.

Sale Price: $6,250,000
Price/SF: $868
Building Size: 7,202 SF
Lot Size: 5,040 SF

The property at 1777 West 8th Avenue is a 7,202 square foot multi-tenant office building situated on a 5,040 square foot lot at the corner of West 8th Avenue and Burrard Street. Built in 1975 and zoned C-3A, the building features floor-to-ceiling glazing, move-in ready office improvements, and secured underground parking. The property carries a Broadway Plan designation of FGBE (Granville/Burrard Slopes – Area E), which permits 5 to 10 storeys and a density of 3.5 to 4.5 FSR, adding a meaningful residential redevelopment layer to the asset.

The transaction was brokered by Matthew MacLean and Paul Carrothers of Cushman & Wakefield.

A single-tenant streetfront retail property at 6167 Fraser Street in Vancouver has sold for $2,900,000, representing $906 per square foot.

Property Details

• Sale price: $2,900,000
• Price per SF: $906
• Building size: 3,200 SF
• Lot size: 3,790 SF

The property is a single-storey, single-tenant retail building with gated surface parking, situated on a 33-foot frontage along Fraser Street. It is zoned C-2A (Mixed-Use) within the Sunset community and carries a Mixed-Use Low-Rise Official Plan designation. The property was vacant at the time of sale.

Fraser Street retail continues to trade at meaningful price-per-square-foot levels. For context, the $906/SF achieved here sits just below the broader Vancouver retail average and compares to recent trades such as Main & East 28th at $810/SF (August 2025). If you own retail property along Fraser Street or elsewhere in Vancouver and are curious about current market value, I would be happy to provide an opinion.

Karim Winsor of TRG Commercial brokered the sale.

A 21-unit low-rise apartment building in Marpole has sold for $5,439,000, reflecting $259,000 per unit and a 4.5% capitalization rate. The property at 8665 Osler Street transacted as a share sale in June 2026.

The building is a three-storey wood-frame structure built in 1962, comprising six bachelor units, 11 one-bedroom units, and four two-bedroom units across approximately 19,400 SF of rentable area. The property sits on a 13,811 SF lot with 99 feet of frontage on Osler Street and includes surface and covered parking for 13 vehicles. The building was well-maintained by the vendor, with 19 of 21 suites upgraded and a series of capital improvements completed in recent years including a full re-pipe (2017), new TPO roof (2011), double-glazed windows (2015), and a new IBC boiler for hydronic heat (2023).

The property is located approximately one kilometre from Marine Drive Canada Line SkyTrain Station. A listing brochure is available online.

DETAILS:

• Sale price: $5,439,000
• Price per unit: $259,000
• Cap rate: 4.5%
• Building size: 19,400 SF
• Lot size: 13,811 SF

Casey Weeks and Morgan Iannone represented the Seller in the transaction. Avison Young represented the Buyer.

I am pleased to announce the off-market sale of Main Gate, a 5-storey boutique office building steps from Granville Island. The property at 1505 West 2nd Avenue was acquired by Commonwealth Management Ltd.

The building is one of the more distinctive office assets on Vancouver’s Westside — a 45,000 SF concrete structure built in 1990 on a 20,000 SF freehold waterfront lot along the Seawall. The building is anchored by the Pacific Institute of Culinary Arts and its Blue Hat Café at grade, with upper floors of office space arranged around a bright central atrium. The property includes 82 secured underground parking stalls and sweeping views over Granville Island, False Creek, and the city.

The transaction was completed off-market and structured as a share sale. This marks only the fifth office building purchased by an investor in Metro Vancouver in 2025, reflecting continued caution among buyers toward the asset class. For well-located, physically distinctive office assets with a clear value-add story, buyer appetite does exist — the challenge is finding assets that meet the bar.

DETAILS:

• Sale structure: Share sale (price not disclosed)
• Building size: 45,000 SF
• Lot size: 20,000 SF
• Asset type: Office
• Year built: 1990
• Parking: 82 secured underground stalls

The sale was brokered by David Taylor of Colliers International.