strata
Active Member
Listed updated to a $110,000,000 asking price. Boom! $8,404,000 back in your pocket.
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121 West | ?m | 10s | Regency Developments | DER + Associates
- Thread starter Daveography
- Start date
Listed updated to a $110,000,000 asking price. Boom! $8,404,000 back in your pocket.
IanO
Senior Member
Interesting new entrant and portfolio.
https://www.hylandproperties.ca/about
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Bradyn Arth 1st
Senior Vice President at Institutional Property Advisors (IPA), a division of Marcus & Millichap
Sold! We’re pleased to announce the recent sale of 121 West, located at 10506 – 121 Street NW, Edmonton. Adjacent to the highly regarded Brewery District and it’s many amenities, this recently constructed 396-suite purpose built concrete apartment building is an excellent example of the value found in the Alberta market. Now fully leased with a young and diverse tenant base, this property provides new modern accommodations with inexpensive rental rates. We’d like to thank both the Purchaser and Vendor for their dedication and creativity to get this closed.
As a team, we’re proud to once again attract a new entrant to the Alberta multi-family market, demonstrating the attractiveness of our investment market. Congratulations to our Purchaser, Hyland Properties on their first acquisition in Alberta!
https://www.hylandproperties.ca/about
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Bradyn Arth 1st
Senior Vice President at Institutional Property Advisors (IPA), a division of Marcus & Millichap
Sold! We’re pleased to announce the recent sale of 121 West, located at 10506 – 121 Street NW, Edmonton. Adjacent to the highly regarded Brewery District and it’s many amenities, this recently constructed 396-suite purpose built concrete apartment building is an excellent example of the value found in the Alberta market. Now fully leased with a young and diverse tenant base, this property provides new modern accommodations with inexpensive rental rates. We’d like to thank both the Purchaser and Vendor for their dedication and creativity to get this closed.
As a team, we’re proud to once again attract a new entrant to the Alberta multi-family market, demonstrating the attractiveness of our investment market. Congratulations to our Purchaser, Hyland Properties on their first acquisition in Alberta!
strata
Active Member
Sold for $91,600,000.
Fans of the Emerald Tower & Tower 101 will be rejoicing if some of this capital gets recycled into kickstarting one (or both) of those projects.
Fans of the Emerald Tower & Tower 101 will be rejoicing if some of this capital gets recycled into kickstarting one (or both) of those projects.
Didama
Active Member
$231,313.13 per unit avg, assuming there are 396 units. That doesn't seem that great but I guess land value is in there too. Let's hope they use the money for something worthwhile...
ChazYEG
Senior Member
I could see a revised (probably shorter) version of Emerald starting in the not-so-distant future, but I find it hard to believe in any movement in the old BMO site (which might not be a bad thing, in the long run... I have zero trust that Regency can come up with something worthy of what is probably one of the 3 or 4 most prominent lots in the whole city)
archited
Senior Member
The concept that they had for the site was actually well designed and then... COVID
Barnaby
Active Member
I was walking by and saw that this apartment has a nice courtyard that I decided to check it. Turns out it's a parking lot.
I'm glad it's sold, and I hope that Regency doesn't screw the next one up.
I'm glad it's sold, and I hope that Regency doesn't screw the next one up.
IanO
Senior Member
Fixed that one for you boss.
Vacs
Active Member
They will likely be putting any extra capital they have into kick starting more of their Holyrood buildings