In August, 150 Fermanagh Ave. sold for more than $12.8 million. The lowrise apartment building was included in a portfolio of three multi-residential properties located across Toronto.

Address: 150 Fermanagh Ave., Toronto
Date of sale: Aug. 2, 2013
Sale price: $12,805,000
Capitalization rate: 4.2 per cent
Total number of units: 66
Price per unit: $194,015

A foreign investor purchased the portfolio for more than $24.1 million, which contains a total of 157 apartment units, representing an aggregate price per unit of $153,726.

In August, $155 million was invested in multi-residential properties throughout the Greater Toronto Area (GTA). The average capitalization rate in the GTA during this period was 5.45 per cent, while the average price per unit exceeded $169,000.

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].