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Victoria two-building apartment portfolio sold to non-profit

Provincial funding supported transition to new ownership
1500-chambers-430-michigan-victoria
The Greater Victoria Housing Society acquired a two-building apartment portfolio with 68 units on June 12 for $21.2 million.

DEAL | Two centrally located multi-family properties changed hands in Victoria on June 12. Hamlet House at 1500 Chambers Street and Arlington Court Apartments at 430 Michigan Street sold to the Greater Victoria Housing Society, which paid $21.2 million with assistance from the province’s Rental Protection fund. The sale price was just short of the list price of $21.3 million. Together, the properties have 68 units, for an average sale price of $311,397 a unit. Grant Evans and Ken Cloak of Colliers Multifamily Advisory Group represented the vendor while Anna Wray of Colliers represented the purchaser.

PRICE | $21,175,000

FROM | Grant Evans and Ken Cloak, Colliers