Regency Towers, an 11-storey, 112 unit building located at 706 Queens Avenue in New Westminster has been bought by a private investor for $14,975,000, representing $133,000 per unit.

The New Westminster apartment market continues to see a strong pace of transaction activity bolstered by strong fundamentals and relatively attractive prices on a per unit basis.

La Carina Apartments, a 12-storey 37-unit building located at 1937 Pendrell Street in the West End of Vancouver has sold for $13,500,000, representing $365,000 per unit.

The vendor and purchaser were both private investors.

Reliance Properties has acquired The Pemberton Building, 744 West Hastings Street in Downtown Vancouver, B.C. The building is a 65,000 sq ft, 8-storey C-Class office building built in 1912.

The purchase price was $19,000,000, representing $291 per sq ft.

Ted Mildon and Derek May of Colliers acted on behalf of the Vendor and Purchaser in the transaction.