Colliers announces the sale of one of Metro Vancouver’s largest multifamily investment assets

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Casey Weeks and Morgan Iannone of Colliers International are pleased to announce the successful completion of the Surrey Gardens Apartment Portfolio, 5.9 acres, 3 apartment buildings with 223 residential suites and 11,000 SF retail strip centre.

Transaction Highlights 

Colliers International ran a competitive bid process that achieved 10 bona fide offers from local private Investors, foreign investors and REITS within one month. The winning bid negotiated by the listing team was unconditional.

Results

This transaction represents an acquisition of a 100% freehold interest in one of Metro Vancouver’s largest multifamily transactions ever in Surrey. This is also the first time the property has been on the market since constructed in 1973.


For More Information, Please Contact:
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Casey Weeks

Senior Vice President - Investment | Personal Real Estate Corporation

Vancouver

Casey Weeks specializes in Investment Sales in the Greater Vancouver with an emphasis on land and investment properties.

He has facilitated the sale of over One Billion Dollars in Assets since 2011 over a range of asset classes, including land, hotel, office, industrial, retail and multi-family assets, many of which were large scale and complex. His achievements are a result of his acute understanding of the transaction process, strong relationships with industry professionals, keen understanding of the Greater Vancouver market as well as undivided dedication to client goals and success.

Casey’s refined marketing platform has proven consistently successful in exceeding client's disposition objectives. Clients include private equity, institutional investors, developers, local and offshore investors/developers.

Born and raised in Vancouver, Casey attended Simon Fraser University where he obtained a Bachelor of Arts (1997) with a major in Political Science.

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Morgan Iannone

Vice President | Investment | Personal Real Estate Corporation

Vancouver

Morgan is one of the top revenue producing Commercial Real Estate Brokers across Metro Vancouver, he is responsible for the origination and execution of investment sales transactions that span a variety of asset classes, including development land, multi-family assets, office and retail investments. He prides himself on having the ability to see the long term picture when it comes to the potential future value of an investment asset or development property, working with his clients to maximize the value of the opportunity. He is able to consistently work with his clients to market their properties on a widescale and complete  transactions with tremendous success. 

Morgan came to Colliers International from a sales background in the real estate industry as a Director of  a company consulting with real estate developers and investors. He has built strong relationships with a large number of local and international developers/investors over the last decade and has been successful in utilizing these relationships to find the right buyers for his clients' assets.

Morgan has acted in the sale of over $690 Million in Commercial Real Estate Assets 

Notable Transactions:

Burquitlam Station 4 acre Mixed Use Development Site with Income from Retail Shopping Centre & Mutiple Apartment Buildings (Clarke Road and Como Lake) -  $99,800,000

Carnaby Manor + Avondale Court - 675 North Road & 668 Whiting Way - 76 Suite Apartment Building & 17 Suite Apartment Building, 51,521 SF of Land  - $46,000,000

Lougheed Town Centre Development Lands - Sunset/Euclid/Alderson/Dunlop Assembly - 21 single family homes, 3.38 Acre Development Site - $44,700,000 

Surrey Gardens Multifamily Portfolio - 223 Apartment Suites in 3 Buildings, 11,000 SF Retail Strip Centre, 5.9 Acres of Land  - $43,500,000

705 North Road/720 Farrow Street - 93 Multifamily suites (48 unit strata wind-up & 45 suite apartment building), 2 acre High Rise  Development Site  - $41,600,000

Kent Place  - 533 Cottonwood Avenue –98 suite Apartment Building, 62,734 SF High Density Development Site  - $40,500,000

Joyce Skytrain Station Highrise Development Site - 5163-5171 Joyce Street  - $37,900,000

Metrotown High Rise Development Site - 53 unit Strata Wind-Up - 4275 Grange St - $37,600,000

Sleepy Lodge Motel - 2.3 acres with  Holding Income - $30,500,000

520 Cottonwood Avenue - 36 unit Strata Wind-Up - $22,500,000

King Edward Skytrain Station Development Site - 568-592 West 24th Avenue  - $21,000,000

Robinson-Seaton - 65,875 SF Townhome Development Site sold for a local developer prior to 1st reading - $20,380,000

404-434 West 23rd Avenue – 24,503 SF Townhome Development Site - $18,050,000

76-96 West King Edward Avenue - $16,250,000

909-927 Grant Street  - 63,576 SF Townhome Development Site - $15,950,000

631-633 Smith & 708-716 Dogwood - 40,090 SF Woodframe Condo Development Site - $15,800,000

Burquitlam Funeral Home – High Rise Development Site - $15,500,000

633 North Road – 36 unit Strata-Wind Up - $14,000,000

Lea-Dogwood Lands - 40,458 Sf Woodframe Condo/Rental Development Site - $13,750,000

Grover-Regan Lands - 38,500 SF Development Site - $12,268,000 

704-712 Lea Avenue – 38,000 SF Development Site - $11,475,000

2045 Dollarton Road - Retail Shopping Centre  - $5,500,000

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