Colliers makes landmark sale of Vancouver multifamily asset

Friday, October 11th, 2019

Surrey Gardens Apartment complex sold

Steve Randall
Mortgage Broker News

Colliers International is celebrating the sale of one of the largest multifamily investment assets in Vancouver.

With 3 wood-framed apartment buildings, 223 residential units, 11,000 square feet of retail, and all set in around 5.9 acres, the Surrey Gardens Apartment Portfolio sale was the first since it was constructed in 1973.

The firm held a competitive bidding process which received 10 bona fide offers from local private Investors, foreign investors and REITS within one month.

The unconditional winning bid for 100% of the freehold of the asset was negotiated by the Colliers team, led by Casey Weeks and Morgan Iannone of the Greater Vancouver Area office.

The asset is located in the St Helen’s Park neighbourhood and is within a 15 minute walk or short drive to shopping and other amenities, along with the Simon Fraser University campus.

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