Brian Morton, Vancouver Sun
May 10, 2012

Lougheed Village includes four residential towers, a retail village and multi-level parkade.

One of Metro Vancouver’s largest multi-family rental complexes has sold in what’s being called the third biggest transaction of its type in B.C. history.

The deal, worth more than $80 million, involved the sale of Lougheed Village in northeast Burnaby, a mixed-use rental development built in 1973 that includes two 24-storey and two eight-storey residential buildings, a two-storey retail village, and a multi-level parkade, all on a three-hectare site.

Father and son team up in competitive real estate market

Frank O’Brien, Business in Vancouver
March, 2012

David Goodman, considered among Vancouver’s top commercial real estate agents, admits he had reservations about inviting his then 24-year-old son Mark to join him in the business 10 years ago. On one hand, he needed “an in-office ally” in his exploding and competitive specialty: multi-family apartment buildings. On the other hand, he had doubts that a father-son team could work effectively together.

“There were ego issues I had to let go of,” he admitted.

Today, as principals in HQ Realty Ltd. of Vancouver, tracking to post $180 million in sales this year – up from $125 million in 2011 – the Goodmans have apparently formed a winning alliance.

Western Investor
February 2012

Metro Vancouver’s apartment rental market remains white-hot, but developers remain cautious on building any new units. The result: compressing capitalization rates, higher “per door” prices, tighter vacancy rates and more condominiums ending up on the rental market.

Some developers, however, are looking to a demographic shift as a way of leveraging new home construction by getting in front of what one realtor calls “the grey tsunami.” Investors, meanwhile, eye the super-low mortgage rates available and figure apartment rental buildings remain a strong play, even with cap rates in record-low territory.

Peter Mitham, Business in Vancouver
January 2012

Apartment sales rise

The numbers are in: sales of apartment blocks in the Lower Mainland totalled 110 last year, up from 90 in 2010 and the greatest number of sales since 2007. While the total volume of sales – $577.1 million – didn’t match the tally of $648.5 million achieved in 2005 (when 162 properties changed hands), the per-suite price continued its “relentless climb” to $175,741.

All this is according to apartment brokers David and Mark Goodman at HQ Commercial Real Estate Services Inc. HQ principal David Goodman attributed the activity to low interest rates and investors seeking good returns.