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The Goodman Report: Concrete rental tower in North Vancouver is first to sell in 23 years

VANCOUVER, March 3, 2014 /CNW/ - David Goodman and Mark Goodman, principals at HQ Commercial and publishers of The Goodman Report are pleased to announce the sale of a concrete rental tower in North Vancouver—the only purpose-built apartment building to trade hands in 23 years in North Vancouver.

This first-class trophy asset known as Parklea Apartments at 151 E. Keith Road consisted of a 15-storey 88-suite building in North Vancouver's superb Lower Lonsdale neighbourhood across from Victoria Park.  It was acquired for a benchmark $25,500,000 by Eastern-based Starlight Investments.  This represented a price per sq. ft. of $443, a price per unit of $289,772 and a cap rate of 3.25%.

View sale details: http://www.goodmanreport.com/listings#1063

David and Mark Goodman are the market leaders for Greater Vancouver multi-family and development site sales and have been publishing The Goodman Report  since 1983.  View Goodman Report at www.goodmanreport.com

SOURCE Goodman Report

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