Archives from July 2016

Hungerford acquires Edmonton’s Royal Alex Place

Long-term thinking and avoiding reliance on the oil and gas industries were behind Hungerford Properties’ recent decision to purchase Edmonton’s Royal Alex Place.

Hungerford Properties - EdmontonThe 11-storey building, with 44 residential units and three storeys of commercial space is in the downtown at 11112 101 St. NW. It’s close to the Royal Alexandra Hospital, one block from a new Metro light rail transit line station, within walking distance of Kingsway Mall and six blocks from the new ICE District that includes Rogers Place (the new home of the Edmonton Oilers hockey team), an outdoor concert area and other future developments.

“We like the neighbourhood and the correlation of demand for the property with the hospital,” said Hungerford Properties partner Michael Hungerford.

“We see a lot of hospital workers and related businesses in the health services industry in the building and neighbourhood already, and we like that in a market that has some challenges with oil and gas-related businesses. We have some insulation from that.”

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Edmonton's Royal Alex Place gets a makeover

A Vancouver-based real-estate developer has announced the acquisition of an 11-storey building near Edmonton’s Royal Alexandra Hospital.

Hungerford Properties acquired Royal Alex Place at 11112 101 St. from a private family for an undisclosed price around two months ago, said Michael Hungerford, a partner at Hungerford.

“We have a long-term investment strategy in Edmonton and we’re very pleased to add this to our portfolio,” said Hungerford.

The mixed-use building is an occupied, tenanted building with 44 residential units and three storeys of commercial space. Many of the current occupants work at the nearby hospital, said Hungerford.

This will be the company’s third property investment in Edmonton in the last two years, he said.

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