Court-Appointed Receivership Sale – 88-Unit Multifamily Property

Colliers is pleased to bring to market 380–390 Princess Avenue, an 88-suite multifamily asset offered for sale by a court-appointed receiver. Situated in a thriving rental node in London, Ontario, the property provides stable cash flow, minimal capital expenditure needs, and strong long-term value supported by significant City-backed affordability agreements.

The property is subject to Municipal Contribution Agreements (MCAs) with the City of London totaling approximately $9.25 million in forgivable funding, secured by City charges on title. These agreements carry affordability obligations for the remaining terms. With City consent, a purchaser may assume the MCAs so that the existing funding does not become immediately payable to the City.

• 390 Princess: Affordability requirements to Sept. 30, 2035; market rents permitted on turnover beginning in 2030

• 380 Princess: Affordability requirements to May 31, 2042; market rents permitted on turnover beginning in 2037

For Access to the Data Room & Receiver’s Form of APS:
Dayma Itamunoala, Senior Vice President – Colliers
647-915-3193 | [email protected]

Zoe Prachter, Transaction Manager – Colliers
416-816-9041 | [email protected]