TORONTO, June 06, 2017 (GLOBE NEWSWIRE) -- Greybrook Realty Partners Inc. announced today the successful closing of an equity investment by its managed issuer of $11,950,000. The equity will be used to acquire serviced lots located in Oakville, Ontario on standard builder’s terms. Together with its developer partner, Treasure Hill, the firm will develop the land into a residential community consisting of 83 single-detached homes.
Located 30 kilometers west of downtown Toronto, on the shores of Lake Ontario, the Town of Oakville is recognized as one of the most sought-after communities in the Greater Toronto Area (GTA). Boasting a high quality of life and quick connectivity to major transportation networks, Oakville has experienced strong residential demand and rapid price growth in recent years, reflected in the 96% increase in single-detached home prices from March 2012 to 2017. Situated in North Oakville, the site resides within one of the newest planned areas of growth within the established town. Future residents of the development will have easy access to area amenities and green space including the abutting ravine system that comprises Sixteen Mile Creek.
“These days sourcing construction-ready serviced lots in supply-constrained markets in the GTA can be quite challenging. Our partnership with some of the best developers in Southern Ontario, such as Treasure Hill, provide us with attractive real estate investment opportunities like this one,” stated Alex Riajskikh, Director of Private Capital Markets, Greybrook Realty Partners. “This is a strategic acquisition and natural fit for our investment portfolio that allows us to continue to provide our investors with access to exceptional development-based investment opportunities.”
The portfolio of low-rise development holdings managed by Greybrook Realty Partners includes several development properties that are projected to result in the completion of over 7,000 ground-related homes in the Greater Golden Horseshoe region.
About Greybrook Realty Partners Inc.
Greybrook Realty Partners is a Toronto-based asset management firm that invests equity in large scale development-based opportunities. Greybrook Realty Partners offers investors the unique ability to partner with leading North American real estate developers and share in value creation activities. Greybrook Realty Partners and its affiliates have invested in over 50 real estate projects in Greater Toronto Area, Greater Golden Horseshoe region, and South Florida markets. In aggregate, its real estate investment portfolio is expected to result in the development of over 17 million square feet of residential and commercial density with an estimated completion value of $8 billion.
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.