WINDSOR APARTMENTS CBRE SALE 2021 MID-YEAR RENTAL APARTMENT REPORT Metro Vancouver & Greater Victoria CRESTA APARTMENTS CBRE SALE PREFACE TABLE OF CBRE is pleased to release the 2021 Mid-Year Multi-Family Market Report; the most current and CONTENTS comprehensive Multi-Family data available for the Metro Vancouver, Greater Victoria & Nanaimo markets. Produced by Lance Coulson PREC, Greg Ambrose and Kevin Murray of the National Apartment Group - BC, this report has been assembled to empower the decision making of all MEET THE TEAM multi-family owners, potential Purchasers and Professionals interested in the Vancouver, Greater 02 Victoria and Nanaimo markets. This report has been prepared with current data sourced from a comprehensive survey of various 2021 SOLD TRANSACTION HIGHLIGHTS data sources. As the global leader in commercial real estate, CBRE understands the critical nature 06 of transparency in a marketplace. 08 EXECUTIVE SUMMARY & ECONOMIC OVERVIEW CBRE RESEARCH LAND TITLE & SURVEY AUTHORITY OF BC APARTMENT FINANCING CBRE NATIONAL APARTMENT GROUP BC ASSESSMENT “THE OLD AND THE NEW” 12 DEREK TOWNSEND - CITIFUND ALTUS GROUP / REALNET CMHC INSURANCE Data contributions and validations to this publication were made by: “WHAT IS A HARD INSURANCE MARKET?” 13 WILL EDDY - EXCEL INSURANCE BROKERS INC. Whatever your multi-family data needs may be, please feel free to reach out to us. We have the most comprehensive data on the market and can provide information on a macro or micro level based on city, neighborhood, location, age, size, proximity to transit, and demographics. 14 2021 GREATER VANCOUVER APARTMENT SALES CBRE is a global leader in Commercial Real Estate and Lance Coulson Personal Real Estate VANCOUVER Corporation is a leader in BC Rental Apartment Sales 2015-2021, with a total sales value in excess of NORTH SHORE $1.72 Billion!* With a network of Multi-family Apartment Professionals across the country and 530 BURNABY corporate offices globally, our experience, network and exposure are second to none allowing us to RICHMOND provide our clients with the greatest market exposure available. CHILLIWACK WHITE ROCK We welcome your inquiries and encourage you to contact us with any questions. ABBOTSFORD 2021 GREATER VICTORIA APARTMENT SALES 32 GREATER VICTORIA NANAIMO LANCE COULSON GREG AMBROSE KEVIN MURRAY PERSONAL REAL ESTATE CORPORATION Associate Vice President Senior Sales Associate Executive Vice President SIM WARAICH AGNES CHEUNG Financial Analyst Marketing Specialist *SOURCE: REALNET and CBRE (January 1, 2015 – July 15, 2021 combined). Includes transactions with co-operating Brokers. 4 2021 MID YEAR MULTI-FAMILY MARKET REPORT 5 CBRE LIMITED CANADA’S 2021 MID-YEAR END MULTI-FAMILY MARKET REPORT NATIONAL NATIONAL LEVEL NATIONAL APARTMENT GROUP CBRE’s National Apartment Group Canada is comprised of 14 sales professionals providing the highest level of BRITISH COLUMBIA commitment and expertise in the marketing and sale of APARTMENT Since 2015, the National Apartment Group British Columbia, led by Lance Coulson PREC, has held a commanding multi-family assets across the country. Through our nine Canadian offices, we have assembled a collection of highly presence in the Metro Vancouver & Greater Victoria Rental Apartment markets, consistently leading in total skilled sales professionals resulting in CBRE NAG being one transactions and setting new benchmarks for pricing that was thought by the marketplace to be unattainable. Having GROUP of the largest and most successfully integrated Multi-Family transacted a broad scope of multi-family dispositions, ranging from low-rise walk-up apartments to institutional sales team in Canada. grade large-scale multi-family assets, our team’s experience in dealing with national/international clients, private apartment owners and many of Canada’s prestigious real estate companies is unparalleled. * + EDMONTON, AB CODY NELSON $1.72B 134 6,587 Associate Vice President DAVID B. YOUNG Total Sales Value Buildings Sold Total Suites Sold Executive Vice President 2015-2021 2015-2021 2015-2021 We are a team with significant local knowledge and expertise that is globally connected, a combination that is indispensable and creates the most competitive marketing program. Our hands-on experience in brokering rental apartment buildings of varying size and scope has propelled us to the forefront of our market and allowed us to establish ourselves as one of the market leaders in the consultation and disposition of these types of transactions. HALIFAX, NS CHRIS CARTER Associate Vice President OTTAWA, ON ROBERT MUSSETT NICO ZENTIL Senior Vice President PERSONAL REAL ESTATE CORPORATION VANCOUVER & VICTORIA, BC Senior Vice President LANCE COULSON PERSONAL REAL ESTATE CORPORATION CALGARY, AB Executive Vice President RICHIE BHAMRA GREG AMBROSE Senior Vice President Senior Sales Associate JAMES CRAIG MONTREAL, QC Senior Sales Representative BENOIT POULIN KEVIN MURRAY Senior Vice President Senior Sales Associate MARC HETU Vice President LANCE COULSON GREG AMBROSE KEVIN MURRAY LONDON, ON KEVIN MACDOUGALL TORONTO, ON PERSONAL REAL ESTATE CORPORATION Associate Vice President DAVID MONTRESSOR PERSONAL REAL ESTATE CORPORATION Executive Vice President CBRE’s National Apartment Group was formed with one purpose in mind: To offer a Canada-wide professional approach to managing the orderly disposition of multi-residential assets. Our exclusive full-service approach has generated over $18 Billion in sales since 2000, with individuals and institutional clients across the country. Covering all major Canadian markets, the National Apartment Group is the largest and most successfully integrated team in Canada. Every mandate, regardless of size, receives the same exclusive approach to realize maximum value for our clients. Our unmatched understanding of the multi-residential market generates superior results for multi-residential owners. Our transactional success assures our clients that we can deliver. *SOURCE: REALNET and CBRE (January 1, 2015 – July 15, 2021 combined) for Greater Vancouver & Vancouver Island. Includes transactions with co-operating Brokers. + Includes Rental Units and individual mobile home sites 6 2021 MID YEAR MULTI-FAMILY MARKET REPORT 7 2021 MID-YEAR ENDOUR MULTI-FAMILY APARTMENT MARKET REPORT SALES TEAM IS MAKING HISTORY... 30 MULTI-FAMILY SALES SO FAR IN 2021! 8 5 30 $705M* PROPERTIES PROPERTIES FIRM OR PROPERTIES VALUE OF TOTAL LISTED UNDER CONTRACT SOLD ACTIVITY VOLUME * SOURCE: CBRE (January 1, 2021 - July 15, 2021 combined). Includes transactions with co-operating Brokers. ALEXANDER TOWER BAY TOWER CRESTA APARTMENTS SOUTH GRANVILLE APARTMENTS SUCCESS 30 SUITES 38 SUITES 48 SUITES 28 SUITES 1326 W 13th Ave, Vancouver, BC 1461 Harwood St, Vancouver, BC 855 Jervis St, Vancouver, BC 1355 W 14th Ave, Vancouver, BC BEGINS WITH SOLD SOLD SOLD SOLD WINDSOR APARTMENTS VILLA CARDELLO THE GLENMORE ROYAL VILLA 42 SUITES 61 SUITES 41 SUITES 72 SUITES A STRONG 1924 Barclay St, Vancouver, BC 1580 Haro St, Vancouver, BC 1885 Barclay St, Vancouver, BC 8675 French St, Vancouver, BC FOUNDATION SOLD SOLD SOLD SOLD THE AQUARIUS DENNISON COURT ARBUTUS COURT RIO VISTA 43 SUITES 35 SUITES 35 SUITES 36 SUITES 2280 W 6th Ave, Vancouver, BC 8790 Cartier St, Vancouver, BC 8740 Cartier St, Vancouver, BC 1373 W 73th Ave, Vancouver, BC SOLD SOLD SOLD SOLD THE RIVIERA UNIVERSITY MANOR THE MONTEREY FOUR WINDS APARTMENTS CBRE Group, Inc. (NYSE:CBG), a Fortune 500 and S&P 500 company 37 SUITES 14 SUITES 54 SUITES 48 SUITES 1270 Nicola St, Vancouver, BC 1741 Kootenay Ave, Prince Rupert, BC headquartered in Los Angeles, is the world’s largest commercial real 4640 W 10th Ave, Vancouver, BC 2040 York Ave, Vancouver, BC estate services and investment firm (in terms of 2019 revenue). The SOLD SOLD SOLD SOLD Company has more than 100,000 employees (excluding affiliates), and serves real estate owners, investors and occupiers through OAKMONT MANOR MCLEAN MANOR APARTMENTS KATHERINE ANNE APARTMENTS THE IMPALA 33 SUITES 30 SUITES 23 SUITES 22 SUITES more than 530 offices (excluding affiliates) across the globe. 33370 George Ferguson Way, Abbotsford, BC 1383 East Broadway, Vancouver, BC 2054 Comox St, Vancouver, BC 8735 Selkirk St, Vancouver, BC SOLD SOLD SOLD SOLD The CBRE National Apartment Group British Columbia specializes in multi-family investment sales through Metro Vancouver and Greater Victoria and has considerable experience with major multi-family AVESTA APARTMENTS 165 E 19TH ST MARCO COURT & WILSHIRE HOUSE THE ARBUTUS 22 SUITES 14 SUITES 62 SUITES 59 SUITES 165 E 19th St, North Vancouver, BC 1364 W 11th Ave | 1107 W 14th Ave 5085 Uplands Dr, Nanaimo, BC transactions, including large-scale Rental Apartment portfolios and 1629 St. Georges Ave, North Vancouver, BC Vancouver, BC properties with redevelopment potential. SOLD SOLD SOLD SOLD Further backed by CBRE, our team is reinforced by the global reach and extensive resources of the largest commercial real estate THE SANDSCAPES ORCHARD WALK THE WATERWALK THE SOUTHPOINT NIGHTINGALE APARTMENTS 74 SUITES 140 SUITES 51 SUITES 70 SUITES 10 SUITES brokerage in the world. 155 Moilliet St, Parksville, BC 3641 & 3651 Elliott Rd, Kelowna, BC 2036 S Island Hwy, Campbell River, BC 2338 S Island Hwy, Campbell River, BC 719 Nightingale Crescent, Nanaimo, BC SOLD SOLD SOLD SOLD SOLD Ask Greg about: Vacancy Chart, Rents, etc. 8 2021 MID YEAR MULTI-FAMILY MARKET REPORT 2021 MID-YEAR END MULTI-FAMILY MARKET REPORT 9 EXECUTIVE SUMMARY 2021 market statistics MULTIFAMILY MARKET INFLUENCERS What a start