Capilano Tower
Edmonton, AB
The Offering
Capilano Tower (the "Property") presents investors with the rare opportunity to acquire 97 suites in a fifteen-storey, concrete rental asset excellently located on the eastern edge of Central Edmonton in the neighbourhood of Terrace Heights. The Property is well-connected to public transportation and major roadways like Wayne Gretzky Drive and 101 Avenue, making it easy to access retail amenities, educational institutions, parks, and public facilities. Numerous suites have been renovated, the Property has been well maintained and features a state-of-the-art fitness facility. An investor will be able to realize immediate upside on the below market in-place rents.
Institutional Property Advisors, a division of Marcus & Millichap has been exclusively selected to offer Capilano Tower for sale. The Property is being offered with no list price. At this time, offers will be reviewed on an as-received basis.
Investment Highlights
○ MEANINGFUL POTENTIAL INCOME GROWTH: In-place rents are below market providing an opportunity for an investor to implement strategic rent increases and capture immediate and robust upside.
○ ACCESSIBLE LOCATION: Situated in close proximity to major transportation routes effectively connecting the Property to employment nodes, entertainment districts, and the Edmonton River Valley.
○ LOW CAPITAL EXPOSURE: The Property has been institutionally managed and maintained with over $5,000,000 invested in suite and building improvements since 2019 including but not limited to: upgrades to balconies, hallways, fitness centre, and lobby upgrades.
○ AFFORDABLE & GROWING MAJOR MARKET: The Edmonton multi-family market is experiencing an upwards shift in trajectory: an influx of new residents paired with tightening vacancy rates has allowed for the elimination of incentives and an increase in rents.
