I am pleased to have acted on behalf of the Vendor and Purchaser in the sale of this West End apartment building with laneway housing potential.
Contact me if you’d like to learn more about what’s selling in the West End and about what the new West End Community Plan means for existing apartment properties.
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.