RE:No vacancy.wynner wrote: Good thing I own a piece of the largest hotel in BC.
Also a good thing I get my news from a NEWSpaper and not from Rogan podcasts and social media.
The Eras Tour will be coming to Vancouver on December 6, December 7, and December 8, 2024, which has led to almost all hotels in the Metro Vancouver area being booked up.
CAPREIT paid $800,000 per unit. That's my 11+ math.
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CAPREIT completed a further acquisition in July of one newly constructed property comprised of 173 modern, luxurious suites in West End, downtown Vancouver, British Columbia (“BC”). The 21-storey building is situated by the waterfront across from the Vancouver Harbour, providing exceptional views of the bay, mountains and skyline. Residents enjoy a short walk to the beach, park and downtown, as well as many easily accessible public transit routes to within and outside of Vancouver. The centrally located property was built in 2019, and was acquired for a purchase price of $137.0 million. CAPREIT assumed the existing $64.1 million mortgage, carrying interest at 3.1% per annum for an eight-year term to maturity.