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Alberta & Prairies  + Cross Border News  + Apartments  |  August 15, 2023
Boardwalk REIT has completed the acquisition of a new Calgary apartment complex for $77.8 million.
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By: Monte Stewart

Downtown Calgary Apartment Building Sells for $83.4M

A downtown Calgary highrise apartment building with converted office space has sold for $83.4 million.

Located at 8th Ave. S.W., the 343-unit tower includes five floors (55 units) of former office premises.

JLL Canada said in a news release that the transaction is the largest multi-family deal in C.algary in the past 12 months. The price per door was $243,149.

JLL, which brokered the transaction, did not identify the parties involved. Mayflower was previously known to be the previous owner. According to multiple reports, the buyer was Chilliwack, B.C.-based Westbow Capital and its in-house property management company Prokey Living will manage the building.=

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JLL CanadaMonte Stewart

About Monte Stewart

Monte Stewart serves as Content Director - Canada for Connect Commercial Real Estate. Based in Vancouver, British Columbia, Monte provides daily news coverage of major Canadian commercial real estate markets, including Vancouver, Toronto, Montreal and Calgary. He has written about the real estate sector for various media outlets and Avison Young since the early 2000s. In addition, he has covered sports, general news and business for several leading wire services and publications, including The Canadian Press, The Associated Press, The Calgary Herald, The Globe and Mail, Research Money, The Daily Oil Bulletin, Natural Gas World and The Toronto Star. Monte is active in his community as a youth basketball coach and raises funds for such charitable causes as Movember.
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