PREIC Expands Its Edmonton Portfolio with the 2025 Acquisition of Westlynn Manor

EDMONTON, Alberta — 2025 — PREIC is pleased to announce the acquisition of Westlynn Manor, a multifamily residential property located in Edmonton’s established Jasper Park neighbourhood. The acquisition reflects the company’s strategy of investing in well-located multifamily properties where active management, strategic capital improvements and long-term ownership can create lasting value.

Westlynn Manor is positioned in a desirable west Edmonton community surrounded by mature trees, established residential streets, schools, parks, shopping and essential services. Its location along 149 Street provides residents with convenient access to major transportation routes and some of west Edmonton’s most prominent destinations.

A Unique Condo Deconversion Opportunity

The acquisition was completed as a condominium deconversion — a specialized transaction through which individually owned condominium units are consolidated under a single ownership structure and returned to unified rental operation. Unlike a traditional apartment acquisition, this involved coordinating multiple ownership interests, completing extensive legal and financial due diligence, and establishing a clear strategy for the property’s future operation. By successfully completing the deconversion, PREIC brought Westlynn Manor under centralized ownership and management — creating the ability to implement consistent building standards, coordinate capital improvements more efficiently, and develop a unified long-term plan.

Part of an Established Edmonton Community

Westlynn Manor is located in Jasper Park, an established neighbourhood with roots dating back to 1912. Formerly part of the Town of Jasper Place before its 1964 annexation by the City of Edmonton, much of the neighbourhood developed during the 1950s and 1960s, creating the mature streets, large trees and established community character residents enjoy today.

Investing in One of Canada’s Fastest-Growing Urban Markets

The acquisition comes during a period of significant growth for Edmonton. Population gains, relative housing affordability, employment opportunities and a diversified economy — spanning government, healthcare, education, construction, technology, logistics, energy and professional services — continue to strengthen demand for professionally managed rental housing in accessible, established communities such as Jasper Park.

Rooftop Solar Supports a More Sustainable Future

One of the most significant improvements at Westlynn Manor is the installation of solar panels on the building’s roof. By producing renewable electricity on-site, the system is intended to help offset a portion of the building’s electrical consumption, reduce exposure to future utility-cost increases and lower the property’s environmental footprint — demonstrating how established multifamily buildings can be repositioned for the future through practical environmental upgrades rather than being replaced.

Creating Consistency Through Centralized Ownership

Under fragmented condominium ownership, major building decisions can be difficult to coordinate. Centralized ownership allows PREIC to approach Westlynn Manor as one complete residential community — bringing consistency to suite-renovation standards, preventive maintenance, capital planning, contractor selection, building operations, resident communication and sustainability investments. PREIC’s objective is not simply to renovate the property, but to build upon the qualities that already make it attractive: its mature neighbourhood, convenient location, practical design and established residential character.

About PREIC

PREIC is a multifamily real estate investment and asset-management company focused on acquiring and operating value-add residential properties. Through disciplined acquisitions, active management, strategic capital improvements and long-term ownership, PREIC seeks to create sustainable value for residents, communities and investment partners.