Winnipeg apartment blocks see multiple bids
Investors, both domestic and from Alberta and B.C., are driving up the price of Winnipeg apartment buildings in what has become a bidding war.
"We are seeing multiple bids on good property, with prices bid up $10,000, $20,000, even $30,000 over the asking price," said Harry Logan, a veteran commercial realtor with Re/Max in Manitoba's capital.
Typical capitalization rates are from 5 per cent to 6 per cent, he added.
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