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Primecorp Brokers 7 Multi-Residential Deals in Early 2016 in Hot Apartment Investment Market

The Primecorp Multi-Residential Brokerage Group, which has been dedicated to serving the apartment property investment community for nearly 20 years, has had a very intense past few months brokering the sale of seven multi-residential properties in the GTA and Southern Ontario.

Primecorp brings extensive market and investment knowledge to the table, combined with our vast databases and information resources to maximize returns for both purchases and vendors:

We take these things to the market and try to generate as much interest as we can, and we were able to generate sufficient interest to be able to provide valuations that satisfied the owners... It’s straight-forward marketing and bringing the best prospects to the table, said Primecorp chief operating officer, managing partner and broker of record Sam Firestone.

Here's a snapshot of the 7 properties, their features and some the of the amazing folks we got to work with on these deals:

Multi-Residential Apartment Investment Sales in GTA


195 Exbury Road, North York, Ontario

Designed by architect Uno Prii in 1968, this 20-storey, family oriented multi-residential apartment building has an enclosed yard for children and contains 159 spacious units with large balconies. More than two-thirds of the units have 2 bedrooms, along with 21 one-bedroom, 21 three-bedroom and 5 bachelor suites.

This building is conveniently located in a quiet residential neighbourhood alongside the Oakdale Golf and Country Club, in close proximity to North York Sheridan Mall, York Plaza, Highway 401 and with several schools and parks nearby. 24-hour public transit is only minutes away. This building was sold by NorthWest Value Partners to a private investor on March 17th.

560 Birchmount Road, Scarborough (Clairlea-Birchmount District), Ontario

Constructed in 1972, this 13-storey multi-residential building was also designed by architect Uno Prii. It was sold on April 4th by Northwest Value Partners to Medallion Corporation, which also has three other neighbouring properties on Birchmount.

This building is secure and professionally managed with 103 large units, of which more than 60% are two-bedrooms, along with 27 one-bedroom, 12 three-bedroom suites and one bachelor unit.

The building features many amenities including: laundry facilities, outdoor swimming pool and family-friendly playground. This well maintained building has the convenience of 24-hour public transit at the door and is situated close to the Eglinton Town Centre, Elginton Corners and Smart Centre. There are numerous schools and parks nearby, with easy access to both Highway 401 and the Don Valley Parkway.

Metropolitan Towers, Waterloo, Ontario

This property, with its two buildings, at 57 Union St. E. was sold by JTS Properties Inc. to Timbercreek Asset Management on Feb. 16th. This property features a 10-storey apartment building and a 7-storey apartment building with a combined total of 32 one-bedroom suites and 65 two-bedroom suites with large balconies and freshly painted interiors.

Amenities include laundry facilities, 68 outdoor parking spots, 47 underground parking spaces with on-site rental staff to address any issues.

The property also includes additional land for potential development and is located southeast of downtown Waterloo close to shopping, schools, the Grand River Hospital, Waterloo Park, Westmount Golf Club, highways and the new light rail transit line.

Anne Street Apartments and Collier Terrace Apartments, Barrie, Ontario

This real estate transaction included two mid-rise apartment buildings with a combined total of 82 suites. The properties were sold by a private investor to Q Residential on April 15th, and both are surrounded by numerous parks and close to Lake Simcoe, downtown Barrie, public transit and Highway 400.

The Anne Street property contains 42 suites, with each unit having its own private balcony. This five-storey building was built in the 1980s and has several different unit sizes. The building features a deluxe on-site laundry facility, indoor and outdoor parking, a secure lobby and entry system and on-site management.

Collier Terrace is a 7-storey building, built in 1980, and features 40 one-and two-bedroom units, each with their own private balcony. Amenities include a top-quality on-site laundry facility, ample surface parking, on-site management and a secure access system.

1 Crown Hill Place, Etobicoke, Ontario

This three-and-a-half-storey apartment building was sold by a private investor to Starlight Investments on April 4th. The acquisition complements Starlight’s existing Crown Hill Drive portfolio.

This building is situated in a quiet residential area, north of the Gardiner Express Way with easy access to parks and trails near the Humber River. The building contains 15 one-bedroom and 18 two-bedroom units and includes parking, a laundry facility and tenant storage. MetCap Living provides professional on-site management.

597 St. Clair Avenue West, Toronto, Ontario

This three-and-a-half-storey brick building, situated near the University of Toronto, has 8 units with convenient access to public transit, local parks, restaurants, schools and shopping.

It was also sold by a private investor to Starlight on April 4th, and is professionally managed on-site by Cogir Management Corporation.

Strong Demand for Quality Multi-Residential Investments

The current multi-residential market has a strong appetite for quality investment opportunities. According to Sam Firestone:

The supply does not meet the demand… Interest rates are low so there’s still a strong appetite for quality assets. The challenge is trying to find opportunities for our investor clients.

Primecorp Commercial Realty Inc., a member of TCN Worldwide, has participated in multi-residential transactions involving more than 37,380 units in over 36 cities across Canada, with a combined value of $3.36 billion, since its inception in 1988.


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