The Louvre
Edmonton, AB
The Offering
Institutional Property Advisors, a division of Marcus & Millichap, has been retained by the vendor to exclusively present for sale, The Louvre (hereinafter, the “Property”). The Louvre is South Edmonton’s premiere luxury multifamily development. Completed in 2022, this exceptional property boasts 358 refined rental suites, complemented by ~9,609 SF of retail space and a wide range of first-class amenities. Ensuring utmost convenience, The Louvre provides a generous parking ratio with 374 underground parking stalls. Its remarkable performance in Edmonton’s thriving multi-family market is evident through its’ market-leading rents and ability to maintain consistently high occupancy rates. One of the key factors contributing to The Louvre’s resounding success is its strategic location as a transit-oriented development. Situated in immediate proximity to a major transportation hub, the Century Park Transit Station, residents benefit from seamless Light-Rail-Transit connectivity across the city.
The Property is being offered for sale with NO LIST PRICE. At this time, offers will be reviewed on an as-received basis.
Investment Highlights
○ REMARKABLE SUCCESS: The Property boasts exceptional performance, commanding top-of-market rents while maintaining below-average vacancy levels. Since stabilization in Q1 2023, The Louvre has consistently demonstrated a stable revenue stream with proven rent and occupancy thresholds.
○ TOP TIER AMENITIES: The Louvre offers a wide array of amenities designed to enhance tenant's quality of life including a high-end fitness centre, interior courtyard, yoga room, library, golf simulator, games room, private dog-park, pet-wash, and 24-hour concierge.
○ RETAIL SPACE: The Louvre features ~9,609 SF of retail space providing residents with easy access to essential services and amenities.
○ TOD LOCATION: The Property is excellently situated in the centre of South Edmonton’s unique urban oasis community: Century Park. The Louvre is located 200 meters from the Century Park Transit Centre, one of two of Edmonton's most southern existing LRT stations, providing connectivity to all nodes of the city.
○ RENOWNED DEVELOPMENT TEAM: Procura Real Estate Services, a local Edmonton-based developer, proudly crafted The Louvre. With a well-established reputation and a proven track record, Procura is esteemed for its visionary approach to community development, skyline transformations, innovative development practices, and unwavering commitment to sustainability.
