off-market corner locked under pressure — land assembly closed for capreit
- strategic two-lot assembly, one listed, one not
- closed under pressure with institutional buyer
project
description
This land assembly at 409–419 Ninth Street was the kind of deal that tests everything: timing, negotiation skill, emotional intelligence, and the ability to deliver under pressure.
I was representing CAPREIT, Canada’s largest apartment REIT, in their strategic expansion into Metro Vancouver. They wanted both lots — together. One was listed on MLS. The other, a key corner parcel, was off-market, with a seller who had no intention of selling. That meant one thing: unless I could secure the second lot, the entire acquisition would fall apart.
The seller wasn’t just unmotivated — she was eccentric, difficult to reach, and deeply sceptical of developers, agents, and anything that resembled a sales pitch. But through a series of patient, in-person conversations and by meeting her on her terms, I gradually built the rapport and trust needed to open the door. It wasn’t easy — it took time, respect, and humility. But it worked.
With strict timelines imposed by CAPREIT and a fast-approaching subject removal deadline on the first lot, I secured the second property under contract just two days before the deadline. No margin for error. No backup plan.
The result? A successful off-market assembly for an institutional buyer — and proof that I can operate at a high level under pressure. Whether you’re a REIT, a private developer, or a family owner with a narrow window and complex dynamics, I bring the calm, committed execution that complex transactions demand.
investment
thesis
Strategic two-lot land assembly in New Westminster’s central corridor, acquired for long-term redevelopment and multifamily rental intensification.
policy
context
Both properties are located in a residential multifamily zone with mid-rise redevelopment potential under the City of New Westminster’s OCP. The proximity to transit, walkable amenities, and urban services supports future density and aligns with long-term institutional acquisition strategies.
buyer
appeal
CAPREIT was pursuing long-term land positioning in the region and understood the potential of this site — but only if both parcels could be secured. My role was to make that happen, under pressure, and with minimal leverage on the unlisted lot. I guided both sides of the conversation professionally, gained trust where there was none, and executed on a tight deadline. This is how institutional buyers move — and how I deliver.
One listed, one off-market
Represented CAPREIT in timed land assembly
Secured second lot under pressure and closed
specifications
Sold Price: $2,442,750
Total Units: 6
Year Built: 1902
Lot Size: 12,251 SF
Zoning: Multifamily Residential
Property Type: Land Assembly
Legal Description:
Parcel A Lot 7 Sub Block 7 Plan NWP2620 Land District 36 (EXPL PL NWP6749)
Lot 8 of Lot 10 Sub Block 7 Plan NWP2620 Land District 36 EXCEPT: S 55 Feet
Lot 7 of Lot 10 Sub Block 7 Plan NWP2620 Land District 36 WESTERLY 16.5 Feet…EXCEPT: S 55 Ft (EXPL PL 6749)
PIDs: 013-456-369, 013-456-261, 013-456-300
Assessed Value (2020): $2,257,000
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