A class ‘A’ rental property in Edmonton was acquired by real estate investment company GWL Realty Advisors Inc., on behalf of an investor client. The 105-unit development, known as The Station on Whyte, received a Built Green HD Canada Silver designation, a third-party certification for energy efficient and environmentally responsible homes.

“There are limited opportunities to acquire quality purpose built apartment buildings in Alberta and even fewer opportunities to acquire new generation properties,” said Paul Finkbeiner, GWL Realty Advisors Inc. president. “The addition of multi-class assets to our client’s portfolio is consistent with our strategy of achieving investment diversification through multiple asset classes and regions.”

With Edmonton vacancy rates low and purpose-built rental space in high demand, The Station on Whyte offers tenants a variety of luxury and condo-like amenities, making it a competitive option for renters in the region’s multi-family market. Building features include a fitness facility, 25,000 square feet of retail space on the ground level and in-suite laundry, balconies and modern finishes. With a walk score of 96, tenants can easily enjoy the area’s shops, restaurants and entertainment without the use of a vehicle.

With this acquisition, GWL Realty Advisors grows its multi-family management portfolio to $2.5 billion.