Edmonton Multifamily Portfolio_Property for Sale
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 48,260,000
Edmonton Multifamily Portfolio (4 Properties)
Edmonton Multifamily Portfolio (4 Properties)

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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.
Edmonton Multifamily Portfolio 4_Property for Sale
Edmonton Multifamily Portfolio 4_Property for Sale

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Last updated
30 Sep 2024