Contacts

Tracy Olmos

Avison Young

Jandip Deol

Avison Young

Amit Grover

Avison Young

Brandon Imada

Avison Young

Brannon Guenette

Avison Young

Neil Mah

Avison Young

Property Details

Property Type Other
Property Size 80,150.4 SF
Units 61
Date Updated Nov 12, 2026

Devon is a river valley town of approximately 7,000 residents within the Edmonton Metropolitan Region, at the junction of Highways 60 and 19. The Property sits within a short walk of the Devon Medical Centre and local pharmacies, with groceries, banks and restaurants a short drive away.

The Property draws residents from Devon, Leduc County, Calmar, Stony Plain, Spruce Grove and southwest Edmonton. Quick access to Leduc, Nisku and Edmonton International Airport keeps residents close to family across the region, while Devon’s established small-town setting offers a quieter alternative to urban seniors residences.

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Highlights

Eligible for CMHC MLI Select Financing
Operating Flexibility
Prospective purchasers have the option to retain the existing third-party management or transition operations onto a separate existing platform. All dining, housekeeping, staffing and personal care services are currently managed and operated through the current thirdparty management. Alternatively, experienced operators can integrate the Property into their existing platform, improve operating efficiencies and expand ancillary care revenues.
Significant Future Upside Potential
Strong Occupancy & Rent Growth
The Property includes approximately 0.5 acres of excess land west of the building providing the opportunity to add an additional 40-units. Historical concept plans will be made available to qualified purchasers upon request. Additional future upside exists by leasing out the 61st studio unit currently operating as a storage room.
The Property is fully occupied with an 18-person waitlist and 97.6% average occupancy over the trailing 12 months. As Devons only full-service, private-pay seniors residence, the Property benefits from limited direct competition and proximity to Devon General Hospital.
The Property qualifies for high-leverage CMHC MLI Select financing of up to 95% LTV with a 45-year amortization, significantly reducing acquisition equity requirements and enhancing cash-on-cash returns. Preliminary underwriting from reputable CMHC mortgage advisors confirms the Property is eligible for 70 points through the programs energy-efficiency and accessibility criteria, subject to final qualification, lender underwriting and CMHC approval.