Surrey multi-family rental building sells for $56M

New, 146-unit apartment building in central location fetches around $378,000 per suite

By
for Western Investor
October 18, 2019





DD Fusion Surrey
Fusion, a new purpose-built Surrey rental building, built by developer WestStone Group, has sold | CBRE

A new, purpose-built, 146-unit rental apartment building in central Surrey has sold for the equivalent of approximately $378,000 per suite, reports CBRE. The building, called Fusion, was built by developer WestStone Group and rentals were launched in fall 2018.

Breakdown:

Property type: Purpose-built rental apartment building

Number of units: 146

Site size: 49,000 square feet

Location: 96 Avenue, Surrey, B.C.

Sale price: $56 million

Date of sale: September 24, 2019

Brokerage: CBRE National Apartment Group, Vancouver

Broker: Lance Coulson


Lance Coulson is the Executive Vice President of CBRE’s National Apartment and Investment Properties Group BC with 21-plus years of experience in commercial real estate, specializing in multi-family properties.

CBRE Canada
Suite 2500, 1021 W Hastings St.
Vancouver, B.C. V6E 0C3
Office: 604-662-5141

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