- What New 9-storey luxury rental is seeking $41.5m
- Why Rent-control exemption until 2027
- What next Marcus & Millichap’s Groupe Mariani-Di Gennaro is the broker
A newer multifamily property in Laval, Qué., is set to be marketed this fall, the second anticipated listing from its developer, Green Street News can reveal.
The 104-unit L-Laval will be shopped with pricing guidance of $41.5m, or $400,000/unit. Marcus & Millichap’s Groupe Mariani-Di Gennaro has the marketing assignment for Arduini. The owner is also coming to market in the fall with Tours Saint-Martin, a 289-unit property with price guidance of $135m, or $465,000/unit.
L-Laval, at 1585 Boulevard des Laurentides, is fully occupied. The nine-storey building, which totals 76,000 sq ft of net leasable area, was built in 2002 on a nearly 26,000 sq ft site.
The building has one 317-sq ft studio, 73 one-bedroom apartments that average 622 sq ft, 22 two-bedroom rentals averaging 1,034 sq ft and eight three-bedroom suites that average 961 sq ft. In-place rents average $1,620.
The sales campaign will highlight that the property is exempt from rent control until 2027, giving a buyer a few years to push rents.
Marketing materials will emphasize open-concept layouts and upscale finishes, including glass-door showers, ceramic kitchen flooring, quartz counters, stainless-steel appliances and balconies. Amenities include an urban chalet, a fitness centre, a rooftop terrace with grills, lounge areas, keyless entry to the building, 24/7 camera surveillance, storage lockers and 95 covered parking stalls.
L-Laval is near the intersection of Boulevard des Laurentides and Boulevard Saint-Martin, with direct access to Highways 440 and 19 less than 2km away. It is 4km from Carrefour Laval shopping centre and 14km northwest of downtown Montréal.
Arduini, formerly T.G. Beco, is based in Montréal. It develops and buys multifamily properties. It also acts as a third-party builder and project manager. Arduini has delivered over 2,500 units in the Greater Montréal Area, with another 1,100-plus under construction.
In addition to the listing coming this fall, Arduini built the Cent-Onze project in Saint-Laurent on behalf of developer Rosefellow. That 2022-vintage building is on the block for $110m.
