The acquisition represents another important milestone in PREIC’s continued expansion across Canada and strengthens the company’s presence in Southwestern Ontario. With its established residential setting, proximity to downtown London, and significant value-add potential, High Apartments closely aligns with PREIC’s strategy of acquiring well-located multifamily properties where thoughtful capital investment and active management can create long-term value.
An Exceptional Location Near Wortley Village
One of the most compelling attributes of High Apartments is its location. The property sits within the broader Old South area, close to Wortley Village, one of London’s most recognizable and established neighborhoods. The community is known for mature tree-lined streets, independent shops and restaurants, parks, heritage architecture, and a strong neighborhood identity.
Old South originally developed during the mid-19th century and was annexed into the City of London in 1890. Wortley Village continues to serve as the commercial and cultural heart of the neighborhood. The area’s architectural heritage is reflected in the Wortley Village–Old South Heritage Conservation District, which protects a streetscape largely established by the early 20th century.
For residents of High Apartments, the location combines the feel of an established residential community with convenient access to downtown London, local businesses, parks, the Thames River, and major employment and educational centers.
A Building Positioned for Its Next Chapter
High Apartments is a substantial mid-rise multifamily building that has served London residents for many years. Its traditional brick exterior, balconies, mature landscaping, and generous site reflect an earlier era of apartment development when properties were often constructed with larger floorplans, significant outdoor space, and practical layouts.
PREIC sees the acquisition as an opportunity to write a new chapter for the property itself. Rather than replacing the qualities that already make the building valuable, PREIC intends to preserve its established character while introducing a coordinated program of improvements designed to enhance the resident experience, modernize building systems and strengthen the property for decades to come.
Investing in One of Ontario’s Growing Cities
The acquisition comes during a period of significant residential development and population growth in London. In 2025, the City of London issued building permits for 5,462 new housing units, a 48% increase from the previous year and the highest annual total in the city’s history. Apartments and other multi-unit dwellings represented approximately 82% of all residential units approved through building permits, illustrating the increasingly important role that multifamily housing plays in accommodating London’s growth.
By August 2026, London had surpassed its three-year federal Housing Accelerator Fund target ahead of schedule, reaching nearly 12,000 new housing units under the program. The city is supported by major sectors including healthcare, education, manufacturing, technology, professional services and logistics, as well as anchor institutions such as Western University, Fanshawe College and London’s healthcare network.
For PREIC, these fundamentals make London an attractive market for long-term multifamily ownership.
PREIC’s Value-Add Vision for High Apartments
PREIC intends to implement a comprehensive, phased value-add program at the property. The strategy will focus on improving the apartments themselves while also addressing common areas, building systems, energy efficiency and the overall resident experience.
Renovating apartment interiors as suites become available, including updated kitchens, bathrooms, flooring, lighting, fixtures and finishes.
- Modernizing common corridors, entrances, lobby areas and other shared spaces.
- Enhancing landscaping, signage and the overall exterior presentation.
- Upgrading lighting, building access and security systems.
- Completing targeted mechanical, electrical and plumbing improvements.
- Improving building efficiency through modern equipment and operating practices.
- Strengthening preventive maintenance and long-term capital planning.
- Enhancing resident services and overall property-management standards.
- Evaluating opportunities to reduce water and electricity consumption.
Assessing the feasibility of installing a rooftop solar-energy system.
PREIC intends to carry out the program progressively, allowing improvements to be made responsibly while limiting unnecessary disruption to existing residents.
Exploring Rooftop Solar Energy
One of the most exciting potential components of PREIC’s long-term plan is installing solar panels on the building’s expansive roof. Because multifamily properties consume energy continuously through lighting, elevators, mechanical systems, and common areas, on-site renewable-energy generation can represent a meaningful opportunity to improve long-term efficiency.
PREIC plans to assess the property’s roof condition, structural capacity, electrical infrastructure, solar exposure, and overall energy consumption before deciding whether to proceed.
If technically and financially viable, rooftop solar could help generate renewable electricity directly at the property, offset a portion of common-area energy consumption, reduce long-term exposure to rising electricity costs, improve the property’s environmental performance and complement future energy-efficiency improvements.
Enhancing an Existing Multifamily Community
PREIC believes that improving existing apartment buildings is an important part of addressing housing needs in growing Canadian cities. Buildings like High Apartments already benefit from established locations, existing infrastructure, and connections to surrounding communities. Through strategic reinvestment, they can continue providing housing while offering residents a more modern, efficient, and comfortable living environment.
Centralized ownership and active management will allow PREIC to establish consistent standards across the property, coordinate capital projects efficiently, and develop a long-term plan rather than approaching improvements individually or reactively.
An Exciting Addition to PREIC’s Growing Portfolio
The acquisition of High Apartments represents an important addition to PREIC’s Canadian multifamily portfolio and further demonstrates the company’s commitment to identifying assets where active ownership can unlock long-term potential.
The property brings together many of the characteristics PREIC looks for in an acquisition: a strong location, substantial existing housing, a growing market, opportunities for interior and building-wide improvements, and the potential to introduce sustainability initiatives such as rooftop solar generation.
As London continues to expand, demand for professionally managed rental housing in established neighborhoods is expected to remain an important part of the city’s housing landscape. Through strategic renovations, improved operations, long-term capital planning, and potential renewable-energy investment, PREIC intends to position High Apartments for its next generation of residents.
About PREIC
PREIC is a multifamily real estate investment and asset-management company focused on acquiring, improving, and operating value-add residential properties. Through disciplined acquisitions, active asset management, strategic capital improvements, and long-term ownership, PREIC seeks to create sustainable value for residents, communities, and investment partners.
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