Maebrook Reve
Maebrook Reve emerged as a refreshed and highly desirable apartment building within the neighbourhood
The acquisition
Together with our long-term partners in the multifamily investment sector, BST Canada acquired an apartment building in 2021, consisting of 200 residential units. The property was in poor condition with many outdated units and unfinished work from the previous owner. This state of disrepair prevented the building from reaching its full potential within the community.
Our stringent analyses identified the lucrative possibilities for the property. We developed a renovation plan ideally suited to the demand and class of tenant in the area, and proceeded accordingly to enhance the building’s stature and give residents better homes.
The renovation project
The project included a full renovation both to the interior and exterior. On the exterior, this included the replacement of all balcony slabs and new, modern glass railings. New asphalt was laid in the parking lot and fresh lines were painted. On the interior, common areas and hallways were fully renovated, along with every unit from ceiling to floor. Energy saving initiatives were installed and on-site amenities were added including a laundry room, extra private parking areas, a secure bike storage facility and a fitness centre.
The result
Upon the completion of our work, the Maebrook Reve stood as a refreshed and highly desirable apartment building within the neighbourhood. With a renewed modern look, attractive amenities and high energy efficiency, rents were raised to fair market value and units attracted excellent tenants, many of whom were young professionals and local students.
Gallery
