- What Mercer Group is selling two adjacent apartment buildings in Côte Saint-Luc
- Why Both assets recently underwent renovations and are fully leased
- What next Colliers is marketing the properties for $30m
A pair of newly renovated apartment properties in the Montréal suburb of Côte Saint-Luc is being marketed for $30m, Green Street News can reveal.
The fully leased buildings at 5020 and 5304 avenue Macdonald total 99 units. At the asking price, they are valued at $303,000/unit. Colliers has the listing for Mercer Group.
The six-storey building at 5020 avenue Macdonald has 75 units totaling 69,000 sq ft on a nearly 22,000 sq ft lot. The 1957-vintage building has 57 one-bedroom units, 16 two-bedroom rentals and two four-bedroom suites. The property has access to 31 parking spaces.
About a block northwest is the four-storey building at 5304 avenue Macdonald. Built in 1956, its 24 units break down to four studios, 13 one-bedroom units and seven two-bedroom suites. The 9,600 sq ft lot totals 22,000 sq ft and has 19 parking stalls.
Both buildings are located near Cavendish Mall, and the Snowdon and Villa-Maria Metro stations are each within seven blocks .
Mercer Group is a Montréal-based real estate investor and operator focused on multifamily and commercial acquisitions in the Greater Montréal Area. The company says it specializes in repositioning underperforming assets through renovations and hands-on management.
The Côte Saint-Luc listing is the second lately for Mercer. The shop also is looking to sell a studio-heavy apartment building in the Plateau Mont-Royal district for $30m. Some 81% of the building’s 112 units are studios.
