5580 35 Street, Whitecourt, AB, T7S 0G1, CA

Sun River Estates

Asset Description

JLL Alberta Multifamily has been retained by the Vendor on an exclusive basis to arrange for the sale of Sun River Estates (the “Property”), an excellent opportunity to acquire a turnkey luxury rental apartment complex and shovel ready development land located in Whitecourt, Alberta, approximately 1.5 hours northwest of the City of Edmonton.

Sun River Estates is comprised of two, three-storey apartment buildings consisting of a desirable mix of one, two, and three-bedroom suites totalling 63 suites. The Property also includes approximately 2.2 acres of zoned, serviced, graded, and shovel ready development lands adjacent to the existing buildings.

Sun River Estates is being sold with an Asking Price of $10,900,000. For more information, please contact the Transaction Advisors.

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Attributes

Number of buildings

Number of floors

Number of units

Asking price

£6,187,000

Media

Investment Highlights

Luxury Apartment Complex: Completed in 2015 & 2016, Sun River Estates offers its tenants efficient suite layouts with large windows, balconies/patios, insuite washer & dryers and amenities including elevator and a 24-hour security surveillance system.

Strong Whitecourt Location: Sun River Estates offers tenants immediate access to public transportation and is located within five minutes of Whitecourt’s downtown core, schools, restaurants, shopping, services, and amenities.

Excess Lands Expansion: Approximately 2.2 acres of excess land is located adjacent to the Property. The lands is zoned for High Density Residential (R4), and plans to support an additional 48 to 64 suites.

Condo Exist Strategy: Sun River Estates’ attractive suite mix, efficiently designed suites, impressive finishings, and excess land to build additional suites presents the opportunity for the suites to be strata-titled and sold individually as the Alberta market continues to strengthen.