What do you think of this project?


  • Total voters
    36
Interesting new entrant and portfolio.

https://www.hylandproperties.ca/about
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Bradyn Arth 1st
Senior Vice President at Institutional Property Advisors (IPA), a division of Marcus & Millichap

Sold! We’re pleased to announce the recent sale of 121 West, located at 10506 – 121 Street NW, Edmonton. Adjacent to the highly regarded Brewery District and it’s many amenities, this recently constructed 396-suite purpose built concrete apartment building is an excellent example of the value found in the Alberta market. Now fully leased with a young and diverse tenant base, this property provides new modern accommodations with inexpensive rental rates. We’d like to thank both the Purchaser and Vendor for their dedication and creativity to get this closed.

As a team, we’re proud to once again attract a new entrant to the Alberta multi-family market, demonstrating the attractiveness of our investment market. Congratulations to our Purchaser, Hyland Properties on their first acquisition in Alberta!
 
Sold for $91,600,000.

Fans of the Emerald Tower & Tower 101 will be rejoicing if some of this capital gets recycled into kickstarting one (or both) of those projects.
I could see a revised (probably shorter) version of Emerald starting in the not-so-distant future, but I find it hard to believe in any movement in the old BMO site (which might not be a bad thing, in the long run... I have zero trust that Regency can come up with something worthy of what is probably one of the 3 or 4 most prominent lots in the whole city)
 

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