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Virtus Diversified Real Estate Investment Trust.

Property Details

7 Point Park

Property Description

7 Point Park Drive is a well-maintained, three-storey multi-residential building in Riverview, comprising 50 units on approximately 1.7 acres. The property offers approximately 56,600 square feet of gross building area and features a unit mix of 46 two-bedroom and 4 one-bedroom suites.

Units include private balconies, in-suite laundry hookups, and three appliances, including a dishwasher. The building is equipped with an elevator, coin-operated laundry on each floor, and mini-split heat pump systems for heating and cooling. Ample on-site parking supports tenant convenience.

Property Images

Property Overview

Market Analysis

Riverview, part of the Greater Moncton region, has a population exceeding 20,000 residents, with a broader catchment of approximately 40,000. The area benefits from steady population growth, rising household incomes, and increasing demand for quality housing.

 

Proximity to Moncton, a key employment hub, supports the local economy. The multi-residential market remains strong, with low vacancy rates and continued rental growth, as demand for housing continues to exceed supply.

Neighbourhood/Location

The property is located at the intersection of Point Park Drive and Hillsborough Road in East Riverview, offering convenient access to local amenities and nearby Moncton.

The surrounding area consists of a mix of single-family homes, townhouses, and apartment buildings. The property backs onto the Point Park subdivision and is situated in a stable residential neighbourhood with moderate traffic levels and good accessibility.

Property Management

Virtus Asset Management

Property Location

7 Point Park Drive | Riverview, NB

Virtus Diversified REIT offers a unique investment strategy focused on real estate diversification, cash flow, and high quality tenants.

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