Interest Rates Low for Q3 in Vancouver, BC
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Marcus & Millichap Vancouver Featured in the Globe & Mail
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(Posted on Jan 22, 2017 at 03:50PM by Michelle Bogle)
In December of last year, Marcus & Millichap facilitated the sale of Taja Apartments, a 28-unit multi-family property located at 1131 Barclay St. in Vancouver, British Columbia.Â
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The building, which was built in 1941 and sits on an 8,646 square foot site, sold for $13.5 million (or $482,142 per unit).
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Our very own Charlie Hughes represented the seller and longtime landlord, Bob Wilson, while our Mike Guinan-Browne represented the buyers, Belmont (Barclay Mews 1) Ltd. – a local property management company.
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The sale of this multi-family property has garnered considerable attention since it is one of the biggest transactions of its type in Vancouver. Earlier this week, the Globe and Mail published a story about the sale. You can view the article in its entirety by clicking here.
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Moving forward into 2017, the prognosis for Vancouver’s multi-family asset class remains upbeat. If investing in a rental property is on your radar, or you are a landlord looking to fetch top dollar for your asset, we urge you to call our office to speak with our team of commercial real estate advisors, who can provide you with a thorough market evaluation and sound advice.Â
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