Riverdale Place Townhomes

9008 101st Avenue Northwest, Edmonton, AB, T5H 4C9, CA

Description

Jones Lang Lasalle Real Estate Services, Inc. (“JLL”) has been exclusively retained to offer for sale a 100% freehold interest in Riverdale Place A, B & C located at 10120 - 92 Street NW, 9008 - 101 Avenue NW, and 10121/25 - 88 Street NW in Edmonton, Alberta (individually, the "Property" and/or "RPA", "RPB", "RPC", and/or collectively, the "Properties" and/or "Riverdale Place Townhomes").

Riverdale Place A ("RPA") Comprised of 4 buildings of two-story townhomes totalling 12 suites with a strong mix of 5 two bedroom suites and 7 three-bedroom suites.

Riverdale Place B ("RPB") Comprised of 2 buildings of two-story townhomes totalling 4 suites with a mix of 2 two-bedroom suites and 2 three-bedroom suites.

Riverdale Place C ("RPC") Comprised of 2 buildings of two-story townhomes totalling 4 suites consisting of 4 three-bedroom suites.

The Properties are located in the historic and highly sought-after neighborhood of Riverdale, near downtown Edmonton, with immediate access to the River Valley. The properties are in walking distance of each other providing operational efficiencies and specifically day-to-day management. The community of Riverdale possesses a strong sense of character and sense of community, attracting families, and residents seeking a quiet neighborhood within a central location. The attractive suite mix, spacious suite sizes, and plentiful outdoor space provide a defensive and irreplaceable offering.

Riverdale Place Townhomes is being offered with no list price and the ability to be purchased individually and/or collectively. The Property is available to prospective purchasers free and clear of any financial encumbrances. Expressions of interest to purchase will be reviewed as received. No offer, regardless of form or content will create any binding legal obligation upon the Vendor or the Advisor until fully executed by the Vendor and Purchaser. Please sign and return the Confidentiality Agreement ("CA") for JLL Data Room access.

...

Attributes

Buildings

Units

Year built

1980

Building area net

18,600 sf

Land area gross

55,031 sf

Media

Investment highlights

Desirable Location with Prime Access to Amenities

Riverdale Place Townhomes are located in the desirable area of Riverdale, adjacent of downtown Edmonton on the east. Riverdale offers prime urban convenience while being surrounded by nature. Residents enjoy quick access to the City’s downtown core, and just southwest and across the river situates Whyte Ave and the University of Alberta. Adjacent is the river valley, and plentiful parks and green spaces contributing to the strong demand for Riverdale.

Strong Market Fundamentals

Edmonton is one of the few major cities to experience continued increases in rents. Affordability and economic opportunities are shifting population flows into the prairies, resulting in Edmonton being one of the fastest growing cities adding over 70,000 people, amounting to a 4.2% increase y-o-y.

Rare Opportunity to Acquire Rental Townhomes in a Mature and Central Location

The offering provides the opportunity to acquire 20 townhome suites across three properties as a market portfolio. The neighborhood of Riverdale is mature, and there is limited developable land, and multi-housing rental options. Riverdale Place is a unique opportunity to acquire cash-flowing assets at scale in a mature and highly sought-out central neighbourhood.

Demand for Larger Suites Serves Various Demographic Groups

The ideal variance of large two-bedroom and three-bedroom townhome suites cater to different tenant demographics
Large townhomes are ideal for families who are searching for housing in proximity to schools, recreation, and employment hubs
The suites are also desirable for professionals as the Properties are in proximity to Downtown Edmonton

Accommodates Changing Lifestyles

Renters are seeking more space to accommodate work-from-home lifestyles. There is a widespread adoption of the hybrid work model post pandemic; a worker spending a portion of their time at the office and a portion working from home. For this reason, they may prefer to have a suite with a dedicated office room, separate from the living area and the bedroom. Riverdale Place benefits from this trend as the suites offer larger than average square footage that is being developed.