Vancouver-based Empirio Capital is deepening its presence in Alberta’s capital city with the acquisition of a second multifamily property, a 133-unit rental property known as McConachie Villas. The newly built and fully leased rental townhome community in northeast Edmonton was purchased from Impact Properties for $47.14 million.

The deal adds to Empirio’s growing portfolio in the city, where it already owns Arcadia Place, a 159-unit property located just a block away.

McConachie Villas, situated at 17620 65 Street NW, is located in a rapidly expanding residential district. The homes average 1,508 square feet, with the majority—about 83 per cent—configured as three-bedroom units.

In addition to expanding in the area, Empirio Capital announced it will bring property management in-house for both McConachie Villas and Arcadia Place, ending its reliance on third-party operators. The move signals the firm’s intent to strengthen operational control, enhance tenant services, and build efficiencies as it scales up in the Edmonton market.

“By consolidating management under our own team, we can better align operations with our long-term investment strategy and deliver a consistent resident experience,” the company said in a statement.

Financing for the deal was arranged by GreenBirch Capital Inc., while Institutional Property Advisors (IPA) provided advisory support.

The expansion comes amid rising interest in Edmonton’s rental market, driven by affordability relative to other major Canadian cities and strong absorption of purpose-built rental units. The firm’s decision to cluster assets in the same neighbourhood reflects a deliberate strategy to achieve economies of scale and operational synergies.

With two sizable properties now under its direct management, Empirio Capital is positioning itself as a growing player in Western Canada’s multifamily investment landscape.