Some of the more interesting stories in the GTA are happening on the multifamily front. Take the deal that closed last week in the Yonge and Eglinton area: 77 Roehampton Ave, 81 units that went for $20.5M and was brokered by Colliers. According to RealNet's Richard Vilner, it was arecord-low cap rate of 3.4%--36% below the Q1 '13 record-low average for apartments throughout the GTA. The adjusted price per unit valuation of over $260k was 52% above the 12-month Toronto average. It's not the largest deal by dollar volume, he says, but a very good example of how yields continue to compress to all-time record levels.
Multifamily Sector Keeps Humming Along
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Richard Vilner
