forward sale. full price. no handoffs.

sold

18 Dec

brand new purpose-built rental
sold pre-completion to institutional buyer

            $26,500,000
            sold
        
            address
            301 Nursery Hill Dr, Victoria, BC
        
            lot size
            62,726 SF (1.44 Acres)
        
            total units
            72
        
            parking
            98 stalls
        
            year built
            2019

listing
description

This $26.5 million forward sale of Nursery Heights — a brand-new, 72-unit purpose-built rental in Victoria — firm deal before the building received occupancy. And it happened without a sign, without MLS, and without a corporate brokerage behind it.

I represented the developer, WestUrban, directly. The deal was marketed privately and strategically, built on years of direct relationships with Canada’s most credible capital groups — national REITs, family offices, syndicators, and institutional asset managers. A shortlist of qualified groups was contacted personally. Multiple offers were received. One was selected. And the deal was firm before the building was complete.

Why does this matter? Because it proves what many developers already suspect: you don’t need a corporate logo to reach serious capital. You need someone who knows who to call — and how to close. The number of qualified buyers for institutional-grade rental assets in Canada is smaller than most think. And I know every single one of them.

From due diligence to final closing, I personally managed the entire buyer engagement process — no handoffs, no junior staff. I worked directly with the REIT’s acquisitions team, solved problems before they surfaced, and kept my client informed every step of the way. This is where being independent becomes an advantage: I’m not managing a team. I’m managing your outcome.

This deal is a template I can replicate — and one I’ve earned through both success and hard lessons. I’ve seen forward sales go well, and I’ve seen them fall apart. That experience matters. Because in high-stakes, institutional transactions, there’s no room for guesswork.

investment
thesis

A stabilized, newly constructed rental asset in a land-constrained metro — professionally marketed and sold pre-completion to a top-tier buyer. Ideal outcome, institutional execution.

policy
context

Zoned CD-9B in the fast-growing community in the View Royal area ofVictoria, Nursery Heights was supported by municipal objectives to expand purpose-built rental supply near key regional corridors. Its proximity to downtown Victoria, walkable parks, and transportation infrastructure made it a natural fit for long-term institutional hold strategies.

client
representation

I worked directly for the developer, with no external brokerage or middle layer involved. The sale was fully exclusive and personally managed from buyer targeting to diligence support and closing. Every detail was handled in-house — including performance forecasting, buyer Q&A, third-party review coordination, and pre-close troubleshooting.