Investment Highlights
- The property presents a compelling value-add opportunity. The majority of units have received modest upgrades during turns, but only two units have been renovated to the premium scope.
- Significant investment into community amenity upgrades have been completed. Solar panel installation has been completed and a majority of the residents' electricity usage will be provided.
- The owner has installed a solar panel electric system at the property, which generates value in three distinct ways: offsetting residents' electric bills, reducing common area electric charges.
- Potential for additional revenue by installing enclosed private yards in 88% of the units having a generous greenbelt.
- On December 1, 2022, the "low income" requirement expired, effectively freeing 20% of the units to market rental rates. The current "moderate income" requirement remains in effect until February 2059. These requirements restrict the allowable income of 20% of the residents to 110% of AMI, but no longer restrict rental rates on those units.
- Part of a three-property portfolio in Ontario including Encore Apartments and Avante Apartments, totaling 445 units. Can be offered on an individual or portfolio basis.
- Existing financing assumable solely at lender's discretion*.
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