Plaza 500

February 11, 2021 / by Matthew Yung / / 0 Comments

Plaza 500 is a strategically located, mixed-use commercial and high-rise residential rental tower located on-transit in the heart of Vancouver. The residential portion of this property had been recently reconstructed and renovated, providing 118 modern, high-quality suites with exceptional views. The property offered a unique value-add opportunity to redevelop a portion of the site for additional residential density. Plaza 500 was positioned in the market as an exciting opportunity for a purchaser to capitalize on the strength of the Vancouver rental apartment market and own a premium rental investment asset in a highly desirable location. After an initial comprehensive marketing process that yielded several competitive offers from both local and institutional purchasers, CBRE was appointed by the mortgage holder of the asset to conduct a court-ordered sale of the property.

CBRE created a competitive bidding environment through the execution of a comprehensive global marketing campaign. This process resulted in multiple unconditional offers from qualified investors. CBRE successfully transacted this asset to a private investor at market-leading pricing, guiding the sale through the court-ordered process, and resulting in the largest multi-family transaction in Metro Vancouver in 2020.

Crossing at Belmont

February 11, 2021 / by Matthew Yung / / 0 Comments

Crossing at Belmont is a residential development consisting of an air space parcel comprising over 111,000 sq. ft. of net rentable area across two purpose-built rental buildings. The Property was developed by Ledcor Property Investments, offering a total of 156 residential rental units surrounded by an urban retail community in Langford, B.C. The project was positioned as an exciting development opportunity to invest in a premium rental apartment development with high-end features in a vibrant mixed-use community, in an area of high rental demand just 20 minutes from Downtown Victoria.

CBRE implemented a full-scale global marketing campaign which generated significant institutional interest. After a successful bidding process, CBRE secured a transaction to Killam REIT, in a forward sale that represented market-leading value. CBRE was honoured to have been involved in bringing Killam REIT into the B.C. market, completing the largest multi-family transaction by value on Vancouver Island in 2020.

WIP Greater Vancouver Apartment Portfolio

January 4, 2016 / by Matthew Yung / / 0 Comments

Metro Vancouver apartment portfolio comprised of 19 properties with 22 buildings and 919 units recently renovated by Western Investment Properties. The Properties are strategically located with strong walk and transit scores in central suburban locations, including North Vancouver, Burnaby, New Westminster, Burquitlam, Surrey and Langley. NIT-Vancouver ran a sophisticated marketing strategy, offering the bid options of complete portfolio, sub-portfolio and individual offers. The team achieved the ultimate scenario sale of entire portfolio to a single buyer, which led them to win Investment Transaction Commercial Real Estate Award of Excellence in 2016.