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Edmonton landmark multifamily tower sells for $51M

Original owner-developer sold the property after 53 years
Edmonton House, a 328-unit apartment tower overlooking the North Saskatchewan River, sold Apr. 24 for $51 million.

DEAL | Leston Holdings (1980) Ltd. has acquired the Edmonton House apartment tower at 10205 100 Avenue, Edmonton from the original owner for $51 million. Built by MacLab Development Group in 1971 at a cost of $7 million, the 45-storey building has 328 residential units as well as 18,000 square feet of office space across three floors. The deal, brokered by Paul Chaput of Institutional Property Advisors, closed April 24.

PRICE | $51,000,000

FROM | Leston Holdings (1980) Ltd.