half a building, all the insight — closed through experience and straight answers
- 23 strata units in seniors building
- co-owned with BC Housing
- closed through clarity and buyer confidence
listing
description
Golden Vista Suites at 375 Cherry Avenue was a unique assignment — the developer I represented was a get-it-done, no-nonsense builder, and this deal required exactly that mindset.
The building itself was a modern, purpose-built seniors rental completed in 2010. But only half of the building was for sale — 23 out of 46 total strata-titled units. The other half was owned by BC Housing, adding a layer of complexity few investors are prepared for. That’s where my experience made the difference.
As a former Director on the board of two prominent housing nonprofits, I brought direct, practical insight into how BC Housing operates — how they make decisions, how they manage their properties, and what future owners can reasonably expect in a co-owned strata. That insight allowed me to speak credibly and clearly to prospective buyers, addressing their concerns with facts — not guesswork — and keeping the deal on track all the way to closing.
The building had a perfect operating record — 100% occupancy, zero vacancy since construction, and rental units built to a high standard, including an elevator, individual air conditioning, and electric baseboard heating. Located on Kamloops’ North Shore with walkable amenities, the site was tailor-made for seniors living and had demographic support to match.
In a market where most brokers would have avoided a partial-strata deal with a crown corporation co-owner, I leaned in — and got it done.
investment
thesis
A stabilized, high-quality seniors rental property with 100% occupancy, institutional co-ownership, and strong demographic tailwinds — ideal for long-term income investors with a clear understanding of strata dynamics.
policy
context
Zoned for multifamily use and co-owned with BC Housing, the building operates under a standard strata plan, with separate title ownership for each half. The property aligns with Kamloops’ seniors housing strategy and offers limited competition in the walkable North Shore submarket.
buyer
appeal
Buyers were drawn to the quality of the building and the stability of the tenant base — but understandably had concerns about shared ownership with a crown agency. My insight into BC Housing’s governance, strata participation, and long-term stability helped bridge that gap. This was not a generic apartment deal — it required strategy, knowledge, and clear answers. That’s what I brought to the table.
23-unit partial strata sale
Co-owned with BC Housing
Closed through strategic buyer education
specifications
Sold Price: $2,675,000
Total Units Sold: 23 (Strata-Titled)
Year Built: 2010
Cap Rate at Sale: 5.25%
Price Per Unit: $116,304
Rentable Area: 9,154 SF
Lot Size (Shared): 33,396 SF (0.91 Acres)
Zoning: Multifamily
Parking: 20 Surface Stalls
Construction: Modern wood-frame
Amenities: Elevator, air conditioning, electric baseboard heat
Occupancy at Sale: 100%
PID: Multiple strata lots under Plan KAS3777
Legal Description: Multiple Strata Lots in Plan KAS3777 District Lot 255 Land District 25
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