Edmonton Multifamily Portfolio_Property for Sale

Edmonton, AB, CA, Americas

Edmonton Multifamily Portfolio

Portfolio description

Jones Lang LaSalle Real Estate Services, Inc. (“JLL” and/or the “Advisor”) is pleased to offer for sale a 100% freehold interest in a portfolio comprised of four, low-rise multifamily properties totalling 110 residential rental suites in Edmonton, Alberta, referred to herein as Edmonton Multifamily Portfolio (collectively, the “Portfolio”, the “Properties”, or individually, the “Property”).

The Properties for sale are as follows:

Spanish Monarch: 9825 - 82 Avenue NW, Edmonton
Cedarstone Place: 10152 - 158 Street NW, Edmonton
Cedarstone Manor: 10130 - 159 Street NW, Edmonton
Barrymore Apartments: 11042 - 128 Street NW, Edmonton

Prospective Purchasers have the opportunity to acquire individual, multiple, or the Portfolio in its entirety. The Property may be acquired free and clear of existing financing, which allows prospective purchasers to source new debt in an attractive interest rate environment.

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Attributes

Number of units

110

Occupancy

96.5%

Asking price

MYR 47,566,000

Edmonton Multifamily Portfolio (4 Properties)

Media

Investment Highlights

The Portfolio has an attractive mix of two bachelor suites, 68 one-bedroom, 34 two-bedroom, and six three-bedroom, totalling 110 residential rental suites.
Rents at the Properties are currently below market, and there is overall 22% upside available across the Portfolio. In addition to the rental upside that is readily available, there is an excellent opportunity to renovate suites upon resident turnover to further increase average rental rates.
The offering of the Portfolio is a rare opportunity that enables a potential purchaser to acquire a sizable interest in Edmonton’s multifamily market.
Each Property within the Portfolio is located in an excellent location, with an abundance of amenities, transit, and arterial roadways nearby.