Newly built rental tower in New Westminster sells for $42M

Multi-family concrete building with 150 units, built in 2018, fetches $280K per suite

By
for Western Investor
January 24, 2020





DD New Westminister apartment tower 508 Agnes

A 150-unit concrete apartment building called "The Beverley" in New Westminster, built in 2018, has sold to a private investor for $42 million, reports Avison Young's Vancouver office. The sale price is the equivalent of $280K per suite.

Breakdown:

Property type: Multi-family rental building

Number of units: 150

Property location: 508 Agnes Street, New Westminster, B.C.

Property size: 17,411 square feet

Number of storeys: 19

Year built: 2018

Sale price: $42 million

Brokerage: Avison Young, Vancouver

Brokers: Carey Buntain, Rob Greer, Bijan Lalji, Chris Wieser


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