A $25-million multi-residential sale in Gander, NL, has set a new record as the largest transaction in the Newfoundland and Labrador MLS system’s history.

The deal, brokered by Jim Burton of REMAX Infinity, involves a three-building apartment complex at 127, 129 and 131 Bennett Drive, comprising 169 units across roughly nine acres.

“This was a significant transaction for the local market,” said Burton, owner of REMAX Infinity. “It’s not just about the sale itself; it involves strategic planning and careful execution. A successful transaction of this magnitude requires a solid grasp of market trends, the ability to identify promising investment prospects, and skillful negotiation techniques.”

The transaction highlights growing investor interest in multi-residential assets in smaller Canadian markets, according to REMAX Canada.

“The scale of this transaction is a powerful reflection of the growing confidence investors have in communities like Gander.” said Don Kottick, president of REMAX Canada.

Kottick added that the deal could serve as a benchmark for future commercial real estate activity in the region.

“As the province’s economy continues to strengthen, we’re seeing increased interest in multi-residential assets that support long-term housing supply and economic development,” he said.

REMAX Infinity is a Newfoundland and Labrador-based brokerage with multiple offices across the province, specializing in residential, commercial and investment real estate.

Pictured: Recently so apartment complex in Gander, NL.

Photo: Courtesy of REMAX Infinity