Medicine Hat Multifamily Portfolio_Property for Sale

Medicine Hat, AB, CA, Americas

Medicine Hat Multifamily Portfolio

Portfolio description

A unique opportunity to acquire two high-quality rental properties consisting of 164 suites located in Medicine Hat, Alberta.

Jones Lang LaSalle Real Estate Services Inc. (“JLL”) has been retained on an exclusive basis by the Vendor to seek proposals for the purchase of a 100% freehold interest in two multifamily residential properties in Medicine Hat, Alberta: Corbitt Arms and Parkland Townhomes (collectively, the “Properties”, or the “Portfolio”; individually, the “Property”). The Properties are located in quiet, beautiful communities in southeast Medicine Hat. The Properties are within a short drive from each other, and is situated close to several retail amenities; as well as the downtown core and major highways.

The Portfolio is being offered for sale with a list price of $24,638,000. The Properties may be acquired individually or as a portfolio. Offers will be reviewed as they are received. The Properties may be acquired free and clear of existing financing.

For more information, please execute and return the Confidentiality Agreement (CA) to one of the Advisors for access to the data room.

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Attributes

Land area gross

12 acres

Number of units

164 units

Asking price

HK$140,776,000

Medicine Hat Multifamily Portfolio (2 Properties)

Media

Investment Highlights

High Quality Properties with a Desirable Suite Mix - Corbitt Arms and Parkland Townhomes have been well-maintained. The suites are spacious with in-suite storage, dishwashers, and balconies/patios.

Immediate Scale within Proximity - The offering of the Portfolio will be an incredibly rare opportunity that enables a potential purchaser to acquire a sizable interest in Medicine Hat’s multifamily market.

Opportunity to Grow Income - There is a rental rate upside available on new leases for both Corbitt Arms and Parkland Townhomes.

Alberta & Medicine Hat Market Fundamentals - Alberta continues to be attractive and desirable for investors across Canada. Alberta’s economy held the top spot on the provincial GDP growth chart in 2023.

Benefits of Secondary Markets - Secondary markets often provide a premium return on investment in comparison to primary markets.

Long-Term Potential for Additional Density - Parkland Townhomes sits on approximately 9.67 acres of land and offers the opportunity for increased density on the site through a phased redevelopment in the future.