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Massive deal involved three multi-family portfolios, dozens of apartment buildings and three real estate brokerages.

Brooks-born and Calgary-based Avenue Living Asset Management has “pounced” on the Edmonton multi-family market with the rapid-fire acquisition of 1,566 rental apartments in dozens of buildings in Alberta’s capital.

“Avenue Living saw an opportunity and it pounced,” said Bradley Gingerich, head of the Institutional Property Advisors team at Marcus & Millichap in Edmonton, one of three brokerages involved in the transaction.

The three-portfolio deal also involved agents from BMO Brokers and Jll Canada.

Gingerich said Edmonton opportunities for rental investors include an improving economy, rising tenant demand and some of the lowest-priced multi-family real estate of any major city in Canada.

Marcus & Millichap brokered the Huntingdon portfolio sale, from private family owners based in Alberta, that includes 361 townhouse and apartments in low-rise buildings across a 20-acre site in north Edmonton.

The Avenue Living transaction also includes the purchase of Avalon Court and Amberwynd Apartments (Spruce Grove) from the British Columbia Investment Management Corp.(QuadReal), and the 874-unit Maclab portfolio that includes apartments and townhomes in seven separate complexes.

Dave Smith, CEO of Avenue Living US Real Estate and the chief operating officer of Avenue Living Asset Management Ltd., said the latest transactions doubled Avenue Living’s Edmonton rental holdings to more than 2,900 units. Edmonton is the company’s largest market and it now holds 25 per cent of Avenue Living’s residential rental assets.

“We’ve always had a long lens on the Edmonton market . What we see in Edmonton is a lot of stability through the last 18 months. It looks like a large transaction at one point in time but really we’ve been very active in the market, looking at opportunities, underwriting opportunities, developing relationships with the brokerage community and our peers,” Smith told the Real Estate News Exchange.

The company specializes in what Smith calls “workforce housing” rentals.

Smith said Avenue Living is also looking at a few additional, smaller transactions in Edmonton and will continue to source investment opportunities in the market.

Since 2015, Avenue Living has invested $340 million in capital expenditure projects, repositioning buildings across the Prairies. The company said it is able to buy assets below replacement costs, renovate those assets, and then reposition them for the same demographic, but ensure they remain cost-effective for that tenant base.

Avenue Living was founded in 2006 with the purchase of 24 rental units in Brooks, Alberta. Today the company has more than 12,500 units across its portfolio, primarily in Alberta, Saskatchewan and Manitoba. In the past two years it also entered the U.S. market, where it now owns more than 800 rental units.

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Planned 600,000-square-foot distribution facility near Edmonton will dwarf similar Amazon facility planned at Port of Vancouver.

U.S. retail commerce giant Amazon will open a giant distribution facility in Acheson, Parkland County, about 20 kilometres west of Edmonton, next year, the company has announced.

The 600,000-square-foot centre, Amazon’s first robotics facility in Alberta, will be the largest in Western Canada, dwarfing a similar 450,000-square-foot robotics hub planned for the Port of Vancouver in Richmond, B.C.

Despite the Parkland County warehouse’s use of robots, Amazon expects to hire more than 1,000 full- and part-time staff to work at the facility.

“Parkland County is an ideal location for fulfillment centres. It is part of the Edmonton Metropolitan Region, offering easy access to 1.4 million customers. Its strategic location along the CanaMex corridor and the Trans-Canadian highway, allows companies to cover, via truck, all of Western Canada within one-day drive,” said Rod Shaigec, Mayor of the Town of Acheson.

The Acheson build is being developed in partnership with Parkland County, Panattoni Development Company and QuadReal.

Meanwhile, Amazon plans to build five new distribution centres in Metro Vancouver, including the robotics fulfillment centre at the Port of Vancouver’s Richmond Logistics Hub.

Two years ago, Amazon secured 450,000 square feet at the Delta IPort industrial park, which is on land leased from the Tsawwassen First Nation, for a large distribution facility.

Amazon estimates that the new centres will create up to 2,000 jobs, half of them at the Port of Vancouver site.

Other sites are in Vancouver, Pitt Meadows, Delta and Langley, the e-commerce giant announced May 7.

Amazon employs more than 3,600 people in the Prairies and has invested more than $600 million in Alberta, Saskatchewan and Manitoba, according to company statements.

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Staging a house before selling can be tiring, but it can help you sell properties much faster. The effort you’ll put into this process will help you become a successful real estate agent who consistently gets the asking price and impresses potential buyers with every property.

Great staging should show off the home’s best assets, making it appealing for a wide range of prospective buyers. Creating a visually pleasing space where every single buyer can imagine their future should be your goal. Here are five ideas that will make a big difference.

1. Depersonalize it:
Potential buyers need to enter a house that will boost their creativity and one they can imagine as their own. The property shouldn’t feature personal items, and your job is to depersonalize it. Once the buyers come inside, they will have a vision about how they want to decorate the space and create new memories there. Items from the owners can be too overwhelming and sway them away from the idea. If there are any objections from the owners, you have to explain why this is a smart move.

Removing all personal items is a professional tip that you have to do right from the start. This includes personal hygiene products, framed photos, decorations, toys, travel souvenirs and even clothes, if possible. Try to put away religious items if the client agrees.

2. Work on the windows:
Guests should be impressed with the house you’re selling right away, and one of the factors that most real estate professionals forget about is the windows. Everyone knows that floors and walls should be clean, but did you remember the windows? They should be squeaky clean and sparkling because it’s one of the first things clients will notice when they arrive at the property.

Next, don’t forget about quality window treatments. Everyone wants a room filled with light during the day and privacy at night. Also, a bright room will appear more spacious. Keep in mind that window treatments for condominiums will be different than for houses and townhouses, and often can make or break the deal. Many condos have lots of windows, often floor to ceiling. A great investment is blackout window coverings. This can be a great selling feature as it provides privacy and adds a beautiful esthetic.

Another smart idea is to make the ceilings appear taller with curtains and drapes that start from the ceiling and reach the floor.

3. Remove the clutter and clean the gutter:
Decluttering should be your next step. When a prospective buyer sees a home that is too cluttered, they simply can’t imagine living in a space like that. They also won’t be able to paint a picture of a potential home because they will be overwhelmed with everything that’s going on around them. Clutter makes the entire space appear smaller, and that’s the last thing you want. Advise the owners to remove all the items they don’t need and to store them in boxes.

Taking care of the gutter means preventing roof, foundation, wood damage, pest infestation, basement flooding and interior damage. Gutter cleaning and ensuring that the gutter system works properly will also enhance the appearance of the home. Who knows, maybe this will lead the clients having a “love at first sight” moment. Remember, the outer appearance is just as important as the inside of the property you’re selling.

4. Opt for neutral:
Not everyone is a fan of bold, striking colours. That’s why it’s recommended that the space you’re selling features neutral tones. This is the most appealing palette for potential buyers because it makes the rooms appear larger, gives a fresh look and helps the space look sophisticated.

Neutral shouldn’t mean boring. Although the home shouldn’t be personalized and feature bold colours, it should still have cool accessories that make it stand out. You and the owners can implement bold hues via flowers, vases, pillows, throw blankets, towels and other decorations.

5. Furniture placement:
The way furniture is placed in the rooms is quite important. Each room should have a purpose. The space shouldn’t be too cramped with furniture, and it shouldn’t be too empty. Remove all pieces that are too big and limit the moving space around the home.

If the furniture in the house won’t do the job, rent some furniture. Talk with the owners and let them know why you are recommending this. Educating the owners on what’s best and what will sell their house faster should be your priority.

Once you’re on the same page, you can declutter the home, work on the windows and window treatments, implement neutral colours as the basic palette, choose the best furniture placement and depersonalize the space. These five tips might sound simple, but you’ll soon see how beneficial they are.