off-market legacy acquisition — trust, tact, and institutional execution
- 11-unit apartment in central New West
- unsolicited offer, closed off-market
- represented CAPREIT
listing
description
This off-market acquisition at 410 Eighth Street in New Westminster was the result of an unsolicited offer, a personal approach, and institutional-grade execution. I represented CAPREIT, Canada’s largest publicly traded apartment REIT, in their successful bid to acquire this 11-unit multifamily asset in the heart of the city.
The owners — a local family who had held the building for nearly 40 years — were not planning to sell. They weren’t on the market, hadn’t listed with a broker, and weren’t actively looking to exit. But thanks to my deep database of apartment building owners and years of relationship-building in the multifamily space, I was able to connect directly with the decision-makers within hours of identifying the site.
From there, it was about more than numbers. It was about trust.
The property had been held by the same family for nearly 40 years. While they weren’t actively seeking to sell, the opportunity was timely — and the process required care. With multiple decision-makers involved, each with their own priorities and connection to the asset, the transaction demanded both clarity and tact. Through a thoughtful, well-structured approach, we built the trust and alignment needed to move forward confidently with the right offer.
From first contact to closing, I handled every step — including valuation, negotiation, and oversight of CAPREIT’s institutional due diligence process. That meant providing clear documentation, meeting timeline requirements, and coordinating the full stack of legal, financial, and physical reviews.
This transaction is proof that off-market deals don’t happen by chance — they happen when expertise and empathy go hand in hand.
investment
thesis
A well-located, low-turnover rental building in one of Metro Vancouver’s most accessible submarkets — acquired off-market by an institutional REIT for long-term hold and income stability.
policy
context
Zoned for low-rise multifamily residential, the site is situated in New Westminster’s central walkable core, within minutes of transit, shopping, and parks. The long-term OCP supports continued apartment use and modest density increases, reinforcing the building’s value as a stable income asset with future flexibility.
buyer
appeal
CAPREIT was drawn to the quality of the asset, its excellent location, and the opportunity to acquire in a tightly held market. What sealed the deal, however, was the process — one built on clear communication, personal connection, and institutional-level execution. From introduction to due diligence to closing, the transaction was managed discreetly, efficiently, and with the respect required for a family legacy sale.
Unsolicited, off-market acquisition
Represented Canada’s largest apartment REIT
Built trust with multigenerational family sellers
specifications
Sold Price: $3,200,000
Total Units: 11
Suite Mix: 7 x One-Bedroom, 4 x Two-Bedroom
Rentable Area: Approx. 9,400 SF
Lot Size: 10,866 SF
Year Built: 1954
Storeys: 3
Parking: 15 Surface Stalls
Zoning: Multifamily Residential
Legal Description: Lot 11 Sub Block 7 Plan NWP2620 Land District 36 of Lot 10
PID: 013-456-407
Assessed Value (2019): $3,078,000
gallery
of images
