This deal marks Richmond’s first move into the Niagara Region, extending its reach beyond the Windsor-Essex and Sarnia-Lambton areas.
TORONTO, Feb. 10, 2026 /CNW/ – Richmond Asset Management (“Richmond”) has finalized the purchase of 20 Bradmon Drive (Capri Apartments), a 79-unit rental apartment building in St. Catharines. This acquisition represents the company’s entry into the Niagara Region and is a significant step in expanding beyond Windsor-Essex and Sarnia-Lambton.
Capri Apartments, St. Catharines, Ontario. (CNW Group/Richmond Asset Management)
This transaction is a big milestone for Richmond as it broadens its operations across Southwestern Ontario.
“The property fits our plan to buy properties in prime locations at prices well below replacement cost while having room to add value,” said David Barry, Managing Partner. “The Niagara region is well set for long-term economic growth due to its diverse economy, appealing quality of life, and convenient access to the GTHA and the US border,” added Aly Somani, Managing Partner.
This acquisition highlights the firm’s careful approach to entering new markets selectively while ensuring that Richmond can implement its value-add program effectively. By combining local property management knowledge with active asset management, they aim to provide a better experience for tenants.
Capri Apartments features 79 residential units with spacious layouts including 48 two-bedroom units and 31 one-bedroom units, private balconies, ground floor patios, covered parking garage, and additional surface parking. The building is situated in Port Weller, one of St. Catharines’ most sought-after and tranquil residential areas that offers easy access to shopping options and green spaces while bordering a ravine that leads to walking paths by the waterfront.
The firm plans to be a long-term owner and contribute positively to the community as it continues growing its footprint across Niagara Region and other parts of Southwestern Ontario.
This purchase strengthens Richmond’s multifamily portfolio further while showing ongoing confidence in secondary markets within Southwestern Ontario that exhibit strong rental demand, limited supply, and favorable demographic trends.
About Richmond Asset Management
Since launching operations in 2024 after years of focusing on multi-family and retail acquisitions throughout Southwestern Ontario starting from 2016, Richmond Asset Management has acquired 15 new properties over the last two years. They’ve grown their assets under management (AUM) to $125 million along with a diverse portfolio comprising 528 residential units and 100k square feet of retail space.
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