Article
CBRE Arranges Sale and Financing of Calgary Apartment Complex
July 20, 2026 3 Minute Read
CBRE’s National Investment Team – Calgary, in collaboration with CBRE Capital, facilitated the sale and financing of SWITCHbloc, a 19-unit apartment property in Calgary’s Lower Mount Royal neighbourhood.
“This transaction is a perfect example of what’s possible when two teams who know this market inside and out work as one,” says Jessica Harland, Senior Vice President of CBRE Capital's Debt & Structured Finance team.
NIT Calgary engaged CBRE Capital as a trusted advisor to structure and arrange financing through the Canada Mortgage and Housing Corp. (CMHC). As an approved CMHC lender, CBRE Capital brings specialized expertise in navigating the agency’s financing programs, ensuring optimal outcomes for clients.
Leveraging deep market expertise and an integrated advisory approach, CBRE delivered a seamless transaction for all parties involved, says Drew Redekopp, Vice President of CBRE’s NIT Calgary. “We navigated the cycles of the Calgary multifamily market and remained committed to bring this transaction to a successful close.”
Award-Winning Property
SWITCHbloc’s innovative design – featuring units that extend the full length of the building in a distinctive switchback configuration – earned the property the 2024 Mayor’s Urban Design Award from the City of Calgary. “It’s a very forward-thinking building, with a significant amount of planning and intentionality behind its design,” Redekopp says.
SWITCHbloc has two-storey units ranging from 950 sq. ft. to 1,437 sq. ft., along with 20 underground parking stalls, private balconies, dedicated storage space, and floor-to-ceiling windows. “These larger units cater to a specific demographic that would prefer to live in a townhome style unit versus a traditional apartment unit,” Redekopp explains.
“It’s one of the most distinctive properties we’ve worked on.”
With an in-depth understanding of both the asset and Calgary’s multifamily landscape, NIT Calgary successfully matched the property with a real estate investor whose strategy complemented the asset’s unique characteristics.
Integrated Financing Expertise
CBRE Capital played a key role in delivering a tailored financing solution through CMHC, providing expert guidance throughout the process and ensuring efficient execution.
“Navigating the CMHC financing process can be more complex than securing financing through a conventional lender, making CBRE Capital’s status as a CMHC-approved lender invaluable in this transaction,” says Redekopp.
“The CMHC financing process can be nuanced and intricate so we work hard to make our clients feel like we are with them every step of the way,” adds Harland.
The collaboration between NIT Calgary and CBRE Capital demonstrates the value of an integrated advisory model, bringing together market-leading sales execution with specialized financing expertise and capital to enhance overall transaction outcomes.
Strong Market Fundamentals
Calgary continues to demonstrate strong fundamentals in the multifamily sector, supported by sustained population growth and relative affordability compared to other major Canadian markets.
“SWITCHbloc has maintained 100% occupancy, which speaks to the stability of the asset,” says Redekopp. “While other multifamily projects experienced negative pressure from increased housing supply and decreased demand, rents here have remained stable.”
“Location is a huge draw with this property,” Harland says. “Calgary continues to have that appeal, particularly among younger demographics that are in their earning years and are looking for more flexibility and freedom in their lifestyle.”
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CBRE facilitated the sale and financing of SWITCHbloc, a 19-unit apartment property in Calgary’s Lower Mount Royal neighbourhood.
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