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New rental building in Edmonton fetches $28.3 million

The mid-rise Infiniti rental complex is on a near-one-acre site in central Edmonton
DD Edmonton mid-rise residential building Infiniti-HiRes-1

A new 109-unit apartment tower in central Edmonton on a near-one-acre site has sold for $28.3 million, report Marcus & Millichap and its Institutional Property Advisors team.

Breakdown:

Property type: Multi-family rental building

Location: 11711 105 Avenue NW, Edmonton

Number of units: 109

Size of property, rentable space: 89,707 square feet (approx.)

Land size: 0.9 acres

Sale price: $28,300,000

Date of sale: March 16, 2020

Brokerage: Institutional Property Advisors, Marcus & Millichap

Brokers: Bradyn Arth, Paul Chaput, Bradley Gingerich, and Jane Woertman of the Institutional Property Advisors team