4023 Aspen Way, Leduc, AB, T9E 8P9, CA

Aspen Creek

Asset Description

Jones Lang LaSalle Real Estate Services, Inc. (“JLL” and/or the “Advisor”) is pleased to present the opportunity to acquire Aspen Creek (the “Property”), a high quality, manufactured housing community comprised of 219 home sites, located in the City of Leduc, Alberta.

Leduc is nestled ten minutes south of the City of Edmonton and an approximately 30-minute drive from Edmonton’s downtown core. In addition, Leduc is about 2.5 hours north of the City of Calgary, Canada’s fourth largest metropolitan city.

Demand for manufactured housing continues to improve as new supply is limited. The asset class has experienced strong occupancy stability and rent growth. The compelling narrative created by favourable investment returns, and a growing need for affordable living options, results in Manufactured Housing Communities being a safe and stable asset class.

The Property is being offered with no list price and no formal bid date. The Vendor reserves the right to call for offers at a future date. All inquiries regarding the Property should be directed to the Advisors.

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Attributes

Number of units

219

Year built

2004

Zoning

RMH

Land area gross

13.44 ha

Occupancy

100%

Media

Investment Highlights

Highly Attractive Location: Aspen Creek is located within Leduc’s desirable Suntree neighbourhood. The Property benefits from excellent connectivity, as the area is easily accessible via major roadways including Highway 2 (Queen Elizabeth II Highway) and Highway 39.

Well-Maintained & Designed Community: Aspen Creek sits on a total land size of 33.22 acres, with the average lot size of 5,311 square feet (“SF”). Ownership has placed an emphasis on attracting quality tenants and keeping the Property in significantly above-average condition compared to their competition.

Opportunity to Grow Income: There is a rental rate upside on renewals and new leases.

Resilient Asset Class with Strong Tailwinds: The stable tenant base, lack of new supply, and consistent cash flow have resulted in Manufacturing Housing Communities being a safe and resilient asset class.

Affordable Housing Alternative: Aspen Creek offers an affordable housing alternative in its constrained market.

Proximity to Major Economic Drivers within the Greater Edmonton Region: Residents of Aspen Creek enjoy unparalleled connectivity to major job and retail centers in Leduc County, as well as Edmonton. Key industries in Leduc County include agriculture, food processing, energy, transportation and logistics, and advanced manufacturing. In addition, Leduc County is home to the Edmonton International Airport, Amazon’s second Fullfillment Centre in Alberta, and Premium Outlet Collection EIA. It also offers the lowest tax rates in the Edmonton Metropolitan Region.