Appraisal Consultant
Forest View Suites
235,440 Sqft - 364 Princeton Drive, Thompson, Manitoba
$15,500,000
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
More Details
Property Type
Investment
Listing Type
Sale
Area Available
8.29 Acre
