TORONTO, July 28, 2017 (GLOBE NEWSWIRE) -- Greybrook Realty Partners Inc. announced today the successful closing of an equity investment by its managed issuer of $30,110,000 to acquire and oversee the development of a prime parcel of land located in Nobleton, Ontario. Together with its developer partner, Treasure Hill, the firm will develop the land into a residential community consisting of over 210 single-detached homes.
Nobleton is conveniently located 30 kilometers north of the City of Toronto in the affluent Township of King, where the median household income is over $190,000. Located south of the Oak Ridges Moraine and nestled among several conservation areas, Nobleton is a peaceful village surrounded by beautiful rolling hills and forests. Home to over 130 local businesses and more than 4,500 residents, this growing market is expected to see its population increase by approximately 45% from 2015 to 2021, as homeowners seek the charm and comfort of Nobleton’s established heritage community.
The development site, located at 13500 Highway 27, is adjacent to an existing residential community and minutes away from Highway 400. The development will offer future residents easy access to GO Transit bus services and the nearby King City GO Station, which provides daily transportation to downtown Toronto. “We are thrilled to have secured one of the last remaining developable parcels of land within the municipal boundary of Nobleton,” states Peter Politis, CEO, Greybrook Realty Partners Inc. “This development with Treasure Hill will provide the community with a collection of beautiful homes ranging from 3,000 square feet homes on 40 foot lots to 4,200 square feet homes on 60 foot lots in a stunning natural environment.”
The portfolio of low-rise development holdings managed by Greybrook Realty Partners Inc. includes several development properties that are projected to result in the completion of over 8,000 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.