DEAL | GreatView Manor, a 66-unit multi-family asset at 1280 Haro St., Vancouver, sold March 5 to a private investor for $27.7 million. Built in 1962 and originally listed last May at $31 million, the sale price averaged $419,697 per unit. The nine-storey tower stands on a 12,969-square-foot lot. The cap rate of 2.86 per cent was exceptionally low in a market where cap rates unwound over the past two years, and signals renewed compression as interest rates continue to fall. Patrick McEvay and James Blair of Marcus & Millichap represented the buyer; the purchaser did not have representation.
PRICE | $27,700,000
FROM | Patrick McEvay and James Blair, Marcus & Millichap
