Vision: Acquire and upgrade an underperforming apartment property and position it for successful sale with significant returns.
1429-1433 Rue Bishop was a rundown apartment building in an in-demand area next to Concordia University. In addition to the university, the building offers walking access to shops, restaurants, cultural attractions and green spaces. Nestled in the heart of downtown in a highly sought-after location, the building wasn’t delivering the value it could.
ELM saw an opportunity to reposition the property, including extensive renovations, managing the leasing process and improving the property management systems. Once the building was performing to its potential, ELM was able to sell the renovated and fully leased building to an investment group for a significant return.