Sherwin Park Condominiums
Acquired by MMI Opportunity Fund I in March 2018 as part of a nine-building complex development project, these seven buildings represent the first large-scale commercial condominium conversion to be completed in Manitoba. The vision for this project is to provide ownership opportunities to small businesses and investors looking to own within the Winnipeg marketplace and to date over 60% of the original inventory has been sold with conditional deals in place for another +/- 30%. Sale prices and velocity have outperformed proforma metrics, and MMI is extremely bullish on the future of the commercial condominium asset class.
location:
St. James Industrial Area
square footage:
178,647 sq. ft. saleable
asset type:
Office/Warehouse/Flex Space
DATE purchased:
March 2018
