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CANADIAN APARTMENT INVESTMENT CONFERENCE
Cross Country Investment Activity Update Presented by: Robert Given, Vice Chairman
September 25th, 2013
CBRE | Page 2
Direct Canadian Investing in U.S. Last 3 Years
*Source: RCA
CANADIAN APARTMENT INVESTMENT CONFERENCE Cross Country Investment - - PowerPoint PPT Presentation
CANADIAN APARTMENT INVESTMENT CONFERENCE Cross Country Investment - - PowerPoint PPT Presentation
CANADIAN APARTMENT INVESTMENT CONFERENCE Cross Country Investment Activity Update Presented by: Robert Given, Vice Chairman September 25 th , 2013 Direct Canadian Investing in U.S. Last 3 Years *Source: RCA CBRE | Page 2 Direct Canadian
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Direct Canadian Investing in Florida (2007-Present)
Country Total Properties Total Volume Canada 48 $987.4 Total 48 $987.4 Market Total Properties Total Volume Tampa 14 $263.6 Orlando 9 $213.8 Broward 6 $169.2 Jacksonville 4 $88.4 Palm Beach 3 $87.5 SW Florida 3 $46.6 Florida Panhandle 3 $40.4 Miami 4 $31.0 Central FL 1 $14.2 Other 1 $32.9 Total 48 $987.4
Volume in Millions of $ Volume in Millions of $
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CBRE | Page 4
Canadian Acquisitions in Florida
Parrot’s Landing
$56,300,000 560 units Brass Enterprises
Blue Isle
$40,000,000 340 units Morguard
Village Crossing
$16,600,000 189 units Morguard
Hillsboro Bay Club
$53,100,000 366 units Bentall Kennedy
Park Colony
$41,500,000 316 units Delavaco Properties
Summerfield
$12,150,000 153 units Delavaco Properties
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CBRE | Page 5
Doral West
$93.5 million $240,979 per unit $207 per SF
Buyer: Associated Estates Seller: JP Morgan Sales Date: 07/2013 Year Built: 1998 Unit Count: 388
- Avg. Unit Size: 1,164 SF
Occupancy: 91%/92.5% Cap Rate: 4.80%
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Terrazas
Buyer: Seller: Wood Partners Sales Date: TBD Year Built: 2009 Unit Count: 324
- Avg. Unit Size: 1075 SF
Occupancy: 94.8% Cap Rate: 5.0%
$85 million $262,345 per unit $241 per SF
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Resort at Pembroke Pines
$225 million $148,026 per unit $156 per SF
Buyer: Carroll Org Seller: SPUSV5 Pembroke Pines LLC Sales Date: 6/2013 Year Built: 1986-1990 Unit Count: 1520
- Avg. Unit Size: 949 SF
Occupancy: 96% Cap Rate: 5.0%
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Port Royale
$117 million $159,227 per unit $222 per SF
Buyer: JP Morgan/MCRT Seller: EQR Sales Date: 12/2012 Year Built: 1988/1990 Unit Count: 737
- Avg. Unit Size: 717 SF
Occupancy: 95% Cap Rate: 5.05%
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