Richmond Asset Management acquires 79-unit apartment building in St. Catharines, Ontario
Transaction marks Richmond's entry into the Niagara Region and expansion beyond the Windsor-Essex and Sarnia-Lambton regions.
TORONTO, Feb. 10, 2026 /CNW/ - Richmond Asset Management ("Richmond") has completed the acquisition of 20 Bradmon Drive (Capri Apartments), a 79-unit purpose-built rental apartment building in St. Catharines, marking the firm's entry into the Niagara Region and a key step in its expansion beyond the Windsor-Essex and Sarnia-Lambton regions.
The transaction represents a major milestone for Richmond as it scales its platform across Southwestern Ontario.
"The property aligns with our strategy of acquiring properties in great locations, well below replacement cost and with an ability to add value", said David Barry, Managing Partner. "The Niagara region is well positioned for long-term economic growth, benefiting from a diversified economy, an attractive quality of life, and easy access to the GTHA and the US border" added Aly Somani, Managing Partner.
The acquisition reflects the firm's disciplined approach to entering new markets selectively while ensuring that Richmond can execute on its value-add program. By pairing local property management expertise with hands-on asset management, they are positioned to deliver an enhanced experience for tenants.
Capri Apartments is a 79-unit residential building featuring large livable suites with a suite mix of 48, 2-bedroom units and 31, 1-bedroom units, private balconies, ground floor patios, covered parking garage, and additional surface parking. The property is located in Port Weller, one of St. Catharines most desirable and quiet residential neighbourhoods, with close access to shopping, green space, and backing on to a ravine with a walking path to the waterfront.
The firm intends to be a long-term owner and a positive contributor to the community as it continues to expand its presence across the Niagara Region and other parts of Southwestern Ontario.
The acquisition further strengthens Richmond's multifamily portfolio and underscores continued confidence in secondary Southwestern Ontario markets characterized by strong rental demand, limited supply, and favourable demographic trends.
About Richmond Asset Management
Building on a track record of multi-family and retail acquisitions in Southwestern Ontario since 2016, Richmond Asset Management officially launched operations in 2024. Over the last 2 years, Richmond has acquired 15 new properties, grown to $125m AUM and a diverse portfolio of 528 residential units and 100k square feet of retail space.
For more information about Richmond Asset Management, visit www.richmondam.ca
SOURCE Richmond Asset Management
Media contact: Sasha Renton, [email protected]
Share this article