The portfolio at 1200-1220 Provencher Boulevard represented 123 units within three buildings and was determined as low-income housing. Due to its economic value and low capitalization rate, the property failed to be competitive on the market and to attract investors’ interest as they associated the property with a low return on investment.
- Strategically located in the sought-after Brossard neighborhood.
- Easily accessible via bicycle or transit and 15 minutes from Downtown Montreal.
- 6 minutes from Panama station, future REM/LRT.
- In proximity to many services, restaurants, and parks.
We approached the state-owned mortgage insurer CMHC and its low-income housing Program. This program allows a mortgage of up to 90 to 95% of the value of the property’s purchase price.
With the support of the CMHC program, the property became more attractive for potential buyers including buyer-managers of multi-residential properties in the South Shore district of Montreal and a pool of investors interested in long-term holds.