Goodman Commercial has launched a new condominium bulk-condominium marketing service designed to help developers overcome sharp presale declines.

The Vancouver-based brokerage specializes in rental apartment-building and development sites. The firm is now looking to market discounted condo units in bulk to its clients, giving them the option of renting them out or holding and selling them as blocks or individually when prices improve.

One key difference is that, rather than selling entire buildings, Goodman Commercial is offering fractional-ownership opportunities in newly completed condo projects.

“Essentially, we’re being called in by multiple developers across the province to help them fill a gap that traditional project marketers can’t do,” said Mark Goodman, the company’s founder, in an interview with Connect.

“Traditionally, they go to market and they’re selling to the end user, a retail owner, occupier, or an investor. But absorption rates are slow, there’s a lot of standing inventory, and there’s this time cost of money. In some cases, some of our developer clients are suffering. Absorption can be one to two units a month, and if they’ve got 40 or 50 units to sell, it’s a multi-year process, and that costs money.

“So, what we’re offering is a service that will take the remaining standing inventory that’s been built, but sitting vacant, and market it to a new audience, namely multi-family rental investors.”

Like many of its counterparts across Canada, the Vancouver region’s condo market has been hit hard by slow presales, some would-be buyers’ cancellations of presale contracts, higher construction-loan expenses and the effects of macroeconomic pressures and geopolitical tensions in recent years.

Goodman said his firm’s new service provides a “very intriguing” value proposition. In return for a bulk discount, investors can capitalize on prices that are significantly below prevailing current market rates and historical pricing levels.

“The most critical driver for this opportunity is the projected supply demand imbalance,” said Goodman, who is also a company principal. “While current inventory levels are abundant, new project starts have essentially slowed to a crawl, and the prevailing financing economics and high delivery costs are making this a challenging market. We’re going to hit what I call a vertical supply wall approaching in 2028 and 2029. There’s not going to be a lot of supply.”

As a result, investors acquiring units in bulk today, will have secured a high-quality finished product at a significant discount and be positioned to capture significant upward pressure on rents and resale values when the development cycle turns and all of the new supply vanishes, said Goodman.

Goodman Commercial’s inaugural assignment is a 30-unit bulk condo offering in Surrey, B.C.’s City Centre area, featuring newly completed strata-titled units within a six-storey wood-frame building. The units can be acquired in bulk or through multi-unit packages, providing investors with flexible entry points and exit strategies, said the company.

“The exit strategy is where you make your money,” said Goodman.

The offering includes a mix of studios, one-bedroom, one-bedroom-plus-den and two-bedroom layouts, with projected rents ranging from approximately $1,600 to $2,300 per month. The property carries a projected cap rate of 4% and a gross rent multiplier of 17.7, with an estimated rental rate of $3.24 per square foot.

Suites feature modern finishes such as Samsung appliance packages, quartz countertops, flat-panel cabinetry, tiled backsplashes and luxury vinyl plank flooring, along with nine-foot ceilings and large windows. Amenities include a rooftop patio lounge and a ground-floor fitness facility.

The investment is structured to provide a largely hands-off ownership model, with the strata corporation responsible for maintenance, insurance and utilities. A 2-5-10 year new-home warranty is also in place.

With its location in the rapidly growing Surrey City Centre area, the property benefits from proximity to SkyTrain access, post-secondary institutions, healthcare facilities and major employment hubs.

“This is not a yield play per se,” said Goodman. “This is just biding your time to sell the condos out individually. It’s the exit strategy which is exciting. It’s a flexible exit strategy. There’s a liquidity advantage.

“You could hold for the long term for this project, for example, and benefit from Surrey’s rapid population growth and deepening supply-demand imbalance. There is the fractional liquidation. You could sell off individual units or blocks of homes as the market recovers to recoup the capital without triggering a full asset sale.

“And then there’s the capital gains maximization. So, you could take advantage of the retail resale market, which historically trades at a premium compared to bulk commercial valuations. So, it’s an interesting problem that we’re solving.”

Goodman Commercial sold a block of 30 condo units in Vancouver’s Commercial Drive area for $11.9 million in 2025. The four-storey structure was built in 1991.

But the company’s new service only applies to newly constructed buildings.

Goodman declined to identify the developer behind the Surrey City Centre offering, because other unit sales have yet to close.

Pictured: The north Surrey area.

Photo: Courtesy of Goodman Commercial