In early May, 77 Roehampton Ave. changed hands.

The vendor, Elserg Investments Ltd., sold the 81-unit building to Q-Residential for $20.5 million.

It was not Toronto’s largest deal in (dollar volume) by any means but it is a good example of how yields continue to compress to all-time record levels. The record low cap rate of 3.4 per cent is 36 per cent below the first quarter of 2013 record low average cap rate for apartments throughout the Greater Toronto Area (GTA). Adjusted price per unit valuation of $260,494 is 52 per cent above the 12 month GTA average.

This “new and notable transaction” was provided by Richard Vilner, research manager at RealNet Canada Inc., a leading Canadian real estate information services company that powers the decisions of firms involved in approximately 75 per cent of the market activity. He can be reached at [email protected].