Property Overview

  • Status
    Available
  • Address
    Pacific Terrace
    1360 Hornby Street
    Vancouver, BC
    Canada
  • Neighbourhood
    Downtown Vancouver
  • # of Units
    67
  • # of Storeys
    9
  • Year Built
    1983
  • Lot Size
    12,000 SQFT
  • Zoning
    DD (N)
  • Price
    Please Contact Listing Agents
  • Building Type
    Concrete
  • Confidentiality Agreement
  • The Offering

    Cushman & Wakefield ULC is pleased to offer to the market 100% freehold interest in Pacific Terrace, an institutional grade, concrete mid-rise purpose-built rental apartment building located in Canada’s most sought after and resilient multifamily market of downtown Vancouver.

    Centrally located in Vancouver’s Downtown District (“DD”), Pacific Terrace checks all boxes of the market’s most sophisticated investment criteria. The Property is strategically located near the bustling Hornby and Pacific Intersection, boasting efficient ingress and egress outside of the Downtown core via Burrard and Granville Street Bridges.

    The Property consists of approximately 35,000 square feet of net rentable area built upon a 12,000 square foot lot. Units have undergone notable capital upgrades, that have assisted in the process of adjusting to consumer demands. Overall gross revenue has the potential to dramatically increase upon tenant turnover, given the below-market rents that are currently in place. Pacific Terrace represents a unique offering to hold as an income producing asset in the core of one of the most highly desired housing markets in North America.

     

    Location

    Pacific Terrace is located in Vancouver’s Downtown District, in the city’s primary business hub. The immediate area provides an abundance of amenities, entertainment venues, and vibrant residential communities. Pacific Terrace is nestled between the Yaletown and West End neighbourhoods, in historic False Creek North. The nearby development of 204 acre former Expo 86 site has incorporated 8,500 residential units, more than 14,000 residents and over 2.6 million square feet of commercial space to supplement

     

    Investment Highlights

    • Prominent and Rarely Offered Location in Vancouver’s Downtown District
    • Surrounded by High Density Development and a Wealth of Tenant Amenities
    • Proximity to Vancouver’s Central Business District and Canada Line Rapid Transit System
    • Professionally Managed Asset Providing Institutional Grade Quality and Scale
    • Maintained to an Exceptional Standard of Care with Several Capital Upgrades Completed
    • Clear Path to Attractive Income Growth with Apartment and Property Programming Potential
    • Precedent for Future High-Density Redevelopment

    Access to the Due Diligence Data Room

    A comprehensive data room is available upon execution of a Confidentiality Agreement which includes a comprehensive Confidential Offering Memorandum (“COM”), recent property reports and an extensive photo gallery

    David Venance
    Executive Vice President

    David Venance

    Don Duncan
    Senior Vice President

    Don Duncan