Downtown Winnipeg Multi-Residential Merchant Development

Multi-Family for Sale
Catylist Listing ID: 30447014
Property Subtypes: Mid-Rise
Building Status: Under Construction
Number of Units: 65 Units
Building Size (RSF): 44,500 SF
Gross Land Area: 12,066 SF
Sale Price: $14,650,000
Unit Price: $225,384.62 Per Unit
Property Use Type: Investment
Building Name: The Hargrave
Sale Terms: Undisclosed
Cap Rate: Undisclosed
Last Updated: 8/19/2019

Overview / Comments

Colliers National Investment Services in Winnipeg is pleased to announce a
new merchant development offering with our release of “The Hargrave” being
a 65 unit purpose-built apartment building located at 50 Hargrave Street.
Construction of the property is well underway and is projected to be complete
in the summer of 2020 featuring an attractive mix of modern one and twobedroom
suites over six storeys with covered parking located on the main level
designed to offer functional rental units in an amenity rich urban infill location.
The new property is being developed by The Sunrex Group of Companies and
is prominently situated near Broadway and Assiniboine Avenue and is within
walking distance to all of the amenities that Downtown Winnipeg and The
Forks have to offer.

Investment Highlights:
• Opportunity to acquire a premium turn key Downtown apartment development located in a trendy and densely populated central Winnipeg neighbourhood on a merchant development forward commit basis.

• High quality concrete and steel construction designed with modern interiors and exciting exterior curb appeal with energy efficiency being a major design consideration.

• Attractive suite mix with a favourable distribution of modern one-bedroom (85% of total) and two-bedroom suites (15% of total) ranging in size from approximately 440 to 690 square feet.

• 20 covered parking stalls located on the main level as well as abundant street level parking is available.

• Laddered closing price contingent on actual occupancy and revenue targets achieved by the end of 2020 being approximately six (6) months from substantial completion of the building and site.

Please contact Colliers for more information at 204-943-1600 or visit http://www.collierscanada.com/en/27886#.

Additional Details

Nearest MSA: Winnipeg
Market: Winnipeg
Submarket/Township: 9A
Zoning: D - DOWNTOWN LIVING

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Contact

Photograph of Listing Agent

Donald White

Colliers International - Don White
CPIX® Member
Photograph of Listing Agent

Clarise Mare

Colliers International
CPIX® Member
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