- What A mixed-use portfolio in Mile End is seeking bids around $30m
- Why Properties appraised at $35.3m, if sold separately
- What next Colliers has the marketing assignment
A 12-property package of mixed-use buildings in Montréal’s Mile End neighbourhood could command offers of $30m, Green Street News can reveal.
The fully leased properties total 66,000 sq ft of retail and residential space across several blocks. The buildings were built between 1900 and 1969. At the guiding valuation, a buyer would realize an initial annual yield of 6.5%.
Colliers is handling the marketing assignment for Hillpark Capital and Groupe Élite, both of Montréal.
The portfolio’s appraised value is $35.3m, which would translate to $535/sq ft. At that price, a buyer’s capitalization rate would be 5.9%. While individual pricing has been set, market pros said the sellers are more interested in a package sale.
Hillpark has been active in the city’s real estate market since 2011. The company owns, develops and manages a mix of residential and commercial properties, with a focus on urban assets.
Groupe Élite owns and manages residential and commercial properties across the city, with activity concentrated in higher-value segments of the market.
