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

Listing Details

Property Type

Investment

Land Area

8.29 Acres

Sale Price

$15,500,000

Listing Type

Sale

Area Available

8.29 Acre

Property Taxes

$290,169.56

Rate Type

Zoning

R4

                
                
                
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Address Map

Country

CA

Province

MB

City

Thompson

Street

364 Princeton Drive

Longitude

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Latitude

N0° 0' 0''