Recent Significant Sales | Multi-family, December 2023
GATINEAU – 99 UNITS
The first transaction took place in the Hull sector in Gatineau. A real estate company specializing in multi-units construction sold a 99 units building to a real estate investment trust (REIT). The sale was concluded for a total amount of $34.5 M, establishing a cost per unit (CPU) of $358,000. It should be noted that the average cost per unit for this sector in new constructions has averaged $291,000 over the past 24 months.
QUEBEC – 78 UNITS
A real estate investment trust (CAPREIT) recently sold a multi-residential property to a real estate company operating in the city of Quebec. With this new acquisition of 78 units in the Upper Town, the real estate company now owns more than 350 residential units in its portfolio. The transaction was completed for an amount of $8.6 M, with a capitalization rate of 5.9%, surpassing the current cap rate set at 4.7% in the Quebec region. Furthermore, the cost per unit (CPU) of this transaction amounts to $110,000, approaching the regional average of $112,000.
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