2244 West 6th Avenue

January 12, 2022 / by Matthew Yung / / 0 Comments

2244 West 6th Avenue is a wood-frame, three-storey apartment building consisting of 46 units encompassing 27,639 sq. ft. of net rentable area. Located in the heart of the Kitsilano neighbourhood on the West Side of Vancouver, the property is just steps from a range of neighbourhood amenities and services along West 4th Avenue and West Broadway. The property offers a unique value-add opportunity through a potential renovation and upgrade program, which would allow for significant rental rate growth. In addition, 2244 West 6th Avenue was positioned as a rare investment opportunity with its premium location just three blocks north of the future Broadway Station Subway Line.

CBRE-NIT conducted a full-scale global marketing campaign, which ultimately led to the successful transaction to a Canadian investment fund, specializing in multi-family real estate.

The Link

December 8, 2021 / by Matthew Yung / / 0 Comments

The Link is a newly constructed rental apartment building comprising 66,000 sq. ft. of net rentable area consisting of 104 rental apartment suites over seven storeys. This wood-frame air-space parcel is located in the rapidly growing Collingwood neighbourhood in the Kingsway Corridor, in proximity to two SkyTrain stations on the Expo line. The property was positioned as a rarely available, purpose-built multi-family asset offering high-end amenities and mountain views in Vancouver’s extremely resilient multi-family market.

CBRE created a competitive bidding environment through the execution of a full-scale global marketing campaign which generated several offers from qualified groups. Due to the strength and uniqueness of this asset, CBRE was able to successfully transact the property to a commercial real estate investment management company.

6137 – 6261 Granville Street

July 7, 2021 / by Matthew Yung / / 0 Comments

6137-6261 Granville Street is a 2.45-acre residential redevelopment site offering the potential to be rezoned for the development of up to six storeys in Vancouver, B.C. CBRE was chosen by the second mortgage lender to conduct the court-ordered sale of the site. Representing an entire block for a total site size of 106,313 sq. ft., the site is currently improved by nine single-family homes along Granville Street. The site was positioned as an attractive residential redevelopment site with 2 corner frontages in a premium location, providing investors an opportunity to become part of the significant transformation around Oakridge Centre in the upcoming years.

After receiving significant interest from global and domestic developers and investors, including multiple unconditional offers, CBRE successfully obtained approval from the court and the property was sold to a qualified local real estate developer focused on creating a master-planned community project.

1246-1286 Lynn Valley Road

July 7, 2021 / by Matthew Yung / / 0 Comments

1246-1286 Lynn Valley Road is a 1.54-acre residential redevelopment site located at the epicentre of Lynn Valley’s commercial core in the District of North Vancouver. The property is centrally located at the intersection of Lynn Valley Road and Mountain Highway, with immediate access to an abundance of retail and recreational amenities which will benefit future residential tenants. This property was positioned in the market with significant redevelopment potential to build a mid-rise multi-family apartment project and become part of Lynn Valley’s growth and development, with several residential developments planned or currently under construction in the area.

Through a comprehensive marketing strategy, CBRE was able to gain significant interest from several notable developers. CBRE created a competitive bidding environment, eventually transacting the property to a well-known local residential real estate developer.

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.