Harvey Russell 2024 Success Recap
2024 was a record year for Harvey Russell, Senior VP/Principal at NAI Advent, in continuing to raise the bar in the Calgary multi-family real estate market. With 823 apartment units sold for over $385 million in deal value and 50 acres of residential land sold, Harvey’s expertise and commitment to delivering outstanding results for his clients were on full display.
Strong and Growing Multi-family Market in Calgary
The multi-family real estate sector has been among the hottest in Canada, influenced by record population growth, a strong rental market, and increased investor confidence. Driven by unprecedented demand and resulting in a vacancy rate tightened to just 1.1%, Calgary welcomed thousands of new residents in 2024, meaning rentals surged and are fuelling investment into multi-family properties as one of the most attractive sectors in real estate.
A Year of High-Profile Transactions
Harvey played a key part in some of the largest multi-family and land transactions the city saw, including the sale of the former Grace Hospital site, which received extensive media attention. This deal was featured in:
- Calgary Herald: NAI Advent launches 2025 sale of inner-city land at Grace Hospital: Calgary Herald Link
- Connect CRE: Sumus, Bankside Acquire Calgary’s Former Grace Hospital Site for $38.1M: Connect CRE Link
- RENEX.ca: Calgary’s high-density Riley Park Village redevelopment site sold for $38.1M: RENEX.ca
Looking Ahead to 2025
Positioned for a strong year, Calgary’s multi-family market boasts stable market fundamentals and heightened investor interest. Harvey Russell continues to be an industry leader, helping developers, investors, and landowners achieve successful transactions and strategic opportunities.
For insights on Calgary’s multi-family market, details on recent transactions, or investment opportunities, feel free to reach out to Harvey Russell