Eastward comprises two properties for development – a future 6-storey wood-frame multi-family rental building and a 4-storey revitalized heritage house located in East Vancouver, encompassing 136 market rental units (no affordable housing requirement). The Development presented investors with an opportunity to develop and own a rare multi-family scale with an exceptional development partner in a joint venture equity raise. Located near the Broadway-Commercial SkyTrain Station, the Development is just steps from some of Vancouver’s best breweries, restaurants, and independent boutiques in East Vancouver. As a result, the purchaser acquired a unique investment property in partnership with one of Vancouver’s leading residential developers to capitalize on Development’s ideal location in a transit-oriented, mixed-use community where new rental supply is currently limited.
Through a targeted marketing campaign, CBRE successfully raised the project equity from an investment management company that operates across Canada.