TORONTO, April 10, 2015 (GLOBE NEWSWIRE) -- Greybrook Securities Inc. and Greybrook Realty Partners Inc. are pleased to announce the successful closing of a $21,800,000 equity private placement of units of the Greybrook Hamilton Limited Partnership.
Proceeds from the placement will be used for the acquisition and development of a 934 unit master planned residential project located in Hamilton, Ontario. The development will be done in partnership with Castlepoint Development Group and Andrin Homes.
Castlepoint Group has over 25 years of leadership in the development industry with a successful history of creating communities and employment across the Greater Toronto Area.
Andrin Homes is celebrating its 25th anniversary this year. They are currently developing large master planned communities throughout southern Ontario and the GTA.
The project is located at Fletcher Road & Golf Club Road, in the suburb of Glanbrook in Hamilton. The development site is in close proximity to shopping, transit and parks.
Hamilton, Ontario's third largest city, is a central transportation hub and one of the fastest growing cities in Canada. Hamilton's recent resurgence and revival has created one of the strongest housing markets in the country.
"Greybrook is thrilled to once again be working with Castlepoint and Andrin Homes. This project is the second project in partnership with Castlepoint in the last 6 months and it will undoubtedly bring an exquisite, family oriented neighborhood to this great city. Castlepoint and Andrin Homes are among the most experienced and respected developers in Canada and we again look forward to another successful project for our investors," says Greybrook Securities CEO, Sasha Cucuz.
About Greybrook Securities
Greybrook Securities offers investors the unique ability to invest alongside some of Toronto's best-in-class real estate developers and share in their value creation activities.
Greybrook Securities, Greybrook Realty Partners and their affiliates have been involved in the creation, development, construction and management of 50 projects totaling over 14,000 residential units.
Greybrook Securities is an OSC regulated Exempt Market Dealer. Greybrook Realty Partners provides asset management and advisory services to top-tier real estate developers, land owners and private equity investors.
This news release contains forward-looking statements that are based on management's current expectations and are subject to known and unknown uncertainties, which could cause actual results to differ from those contemplated or implied by such forward-looking statements. Greybrook is under no obligation to update or revise any forward-looking statements contained herein, whether as a result of new information, future events or otherwise.