Strata Wind-Up

 
 
 
CBRE’s Strata Wind-Up and Property Sales Team is one of the only teams in Metro Vancouver with hands-on strata wind-up experience; the sale of Seymour Estates, a 114-unit complex located in North Vancouver, was finalized in January 2017. This experience has given us unrivaled knowledge of working with Strata Corporations, marketing strata properties, negotiating contracts on behalf of Owners and preparing the necessary court documentation. CBRE is well positioned to undertake these mandates and has assembled a powerhouse team of 5 core strata wind-up specialists, offering an unmatched cross-section of senior management, lead negotiators, financial specialists and marketing professionals. Together, we represent over 50 years of veteran real estate experience; much of this concentrated in the sale of multi-family properties and large-scale redevelopment sites.
 
We have a long history of working on unique transactions that involve complicated issues not least of which include sites that need to consider multiple group dynamics with existing residents and the wider community, political sensitivity about surrounding density and affordable housing and the need to work collaboratively with the Vendor and government officials throughout the marketing and sales process.
 
CBRE’s strata Wind-Up & Property Sales Team is dedicated to achieving your objectives with exceptional strategy, service and value. Our professional strata wind-up experience ensures the strata owners have unparalleled access to the first-tier market knowledge, relationships and experience.
 

WHY WORK WITH US:

 
YOUR SUCCESS IS OUR PRIORITY: We are committed to the Strata Wind-Up process from start to finish.
 
OVER 41 YEARS OF COMBINED EXPERIENCE: Our team has over 41 years of combined experience in selling development sites and multi-family assets. Lance Coulson and Mitch Cramp were also recently invited to speak on a panel of industry experts at the REIC Fall Breakfast Seminar titled “Selling an Entire Strata Corporation, a Behind the Scenes Look.” CBRE was the only brokerage firm chosen to participate at this event.
 
WE UNDERSTAND THE COMPLEXITIES: We have experience with strata councils, strata owners and strata lawyers. We understand the complexities of the Strata Wind-Up process from direct experience.
 
FIRST-HAND EXPERIENCE HANDLING THE DISSOLUTION: Lance Coulson recently brokered “Seymour Estates”, one of the largest, most significant court approved, strata wind-up transactions in Metro Vancouver!
 
SALIENT FACTS
Project Type:          Townhouse Redevelopment Site
Address:                 904-944 Lytton Street
Deal Type:              114 Units
Site Size:                6.25 Acres (272,250 sq. ft.)
Sale Price:              $51,000,000
Completion Date:    January 2017

THE STORY BEHIND SEYMOUR ESTATES
  • Council for the Owners hired a lawyer to obtain an “Order of Sale” from the Supreme Court
  • CBRE Limited was chosen by council on behalf of the Ownership Group to list and market the property for sale
  • Property was marketed locally, nationally and internationally via an unpriced “Bid Process”
  • Multiple offers were submitted on the property from a cross section of Developers
  • Court recently approved the sale to Anthem Properties and the deal is now Firm
  • Closing of Seymour Estates occurred January 17th, 2017