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.
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