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Saskatoon multifamily property commands strong pricing

Strong demand for rental units promises steady cash flow from four-year-old property
heritage-heights-sasktaoon
Heritage Heights, a three-building multifamily portfolio in Saskatoon, sold March 12 for $57.5 million.

DEAL | Heritage Heights, a three-building multifamily portfolio at 122, 126 & 130 Shillington Crescent, Saskatoon, sold March 12 for $57.5 million, one of the highest values ever seen in the market. Listed with Colliers, the purpose-built rental property was built in 2020 and features 248 units. The sale price worked out to an average of approximately $231,855 per door. The value reflects a tight vacancy rate in the city and the potential for ongoing cash flow.

PRICE | $57,500,000

FROM | Mitch Fuchs, Colliers Canada