DEAL | GEC Langara LP, a subsidiary of Global Education Communities Corp., acquired two parcels at 6428 Cambie Street, Vancouver, on Dec. 21 for $17.5 million. The property was listed with Morgan Iannone and Casey Weeks of Colliers International, which described it as a shovel-ready rental development site held in a bare trust. The site has been approved for a 62-unit, 10-storey concrete highrise of 64,000 square feet. GECC is applying for higher density per the province’s Transit-Oriented Areas plan that could allow at least 20 floors of rental housing built on the site.
PRICE | $17,500,000
FROM | Global Education Communities Corp.
