Forest View Suites

The Offering

CW Stevenson Inc., operating as Cushman & Wakefield | Stevenson, is pleased to offer for sale a 100% freehold interest in Forest View Suites located at 364 & 424 Princeton Drive in Thompson, Manitoba (the “Property”) on behalf of Ernst & Young Inc., in its capacity as the Court-appointed Receiver of 5409676 Manitoba Ltd. and Polar Bear Properties Ltd., and not in its personal capacity (the “Vendor”). This rare, large scale, high rise multi-family property presents a purchaser the opportunity to control a substantial portion of rental units in Thompson and benefit from having the opportunity to acquire at a fraction of its replacement cost. With minor amounts of redevelopment and a strong lease-up program, a purchaser will see substantial, above market investment returns.

Investment Highlights

Immediate Scale

• Ability to acquire and control a significant, well-known asset in the multi-family rental market in Thompson, MB

Significant Value Growth

• Historically low vacancy rates
• Minor renovations and a strong lease-up program will result in excellent returns and property value growth

Attractive Strategic Investment Story

• Free and clear of debt financing – allows purchasers to take advantage of historically low interest rates and CMHC mortgage programs
• Priced well below replacement cost
• Built-to-last concrete and steel construction
• Fee potential for purchasers with third party management and construction companies
• Major components recently upgraded and in good working order