- What Cenyard Properties has purchased full interest in two Metro Vancouver properties
- Why The company was previously in a joint venture on the properties with Landmark Premiere Properties
- What next Cenyard plans to develop the lands
Cenyard Properties has purchased full ownership of two properties in Metro Vancouver worth a combined $90m, Green Street News can reveal.
The deals, which closed on May 16, will be announced by the company this morning. Both properties were previously joint ventures between Cenyard and Landmark Premiere Properties. How much Cenyard paid for full interest was not divulged.
The properties comprise a retail plaza and a transit-oriented residential development site.
The retail property, dubbed Guildford, is a 3-acre plaza in Surrey that is in the early stages of rezoning. Cenyard is looking to build three towers on the property, which would provide about 1,000 homes.
The second property, Foster Fairview, is in the Burquitlam neighbourhood. It has single-family homes but is also in the early stages of rezoning, with Cenyard planning to build more than 300 apartments.
Cenyard is actively advancing both projects and working with municipal authorities to obtain the rezonings.
Cenyard is a Vancouver-based real estate development and investment company founded in 2020. Its portfolio includes purpose-built rentals, hotels, retail and industrial developments.
Correction: This article was updated to reflect the value of the properties.
