TORONTO, Jan. 04, 2017 (GLOBE NEWSWIRE) -- Greybrook Realty Partners Inc. is pleased to announce the successful deployment by its managed issuer of $10,900,000 in equity to acquire and subsequently manage the development of a prime parcel of land located in Oshawa, Ontario. The property is co-owned with Marlin Spring and is expected to be developed into a residential community consisting of 56 single detached homes and 114 townhomes.
Located 60 kilometers east of Toronto, the City of Oshawa is the largest municipality in Durham Region and the region’s business, transportation, education and entertainment hub. Oshawa is home to several post-secondary institutions and major employers, including General Motors of Canada. The development site is situated within an established community in south Oshawa and in close proximity to major transportation infrastructure that provides convenient access to downtown Toronto, including Highway 401 and the Oshawa GO/VIA Station. Ongoing investments to modernize the GO/VIA station are expected to enhance Oshawa’s transit connectivity for existing and future residents.
“With the demand for detached homes throughout the GTA at an all-time high, the Durham region continues to provide consumers with a GTA accessible and comparatively affordable option for single-family homes,” states Alex Riajskikh, Director, Private Capital Markets, Greybrook Realty Partners. “Oshawa has also grown a strong knowledge-based workforce as the City continues to diversify its economy from its manufacturing past towards health services and education. We expect to see increased residential demand in Oshawa, and we will continue to actively seek out investment opportunities in similar high growth markets,” said Riajskikh.
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 6,000 single detached homes in the Greater Golden Horseshoe region.
About Greybrook Realty Partners Inc.
Greybrook Realty Partners offers investors the unique ability to partner with top-tier North American real estate developers and share in their value creation activities. In addition, Greybrook Realty Partners provides asset management and advisory services to investors and landowners, respectively. Greybrook Realty Partners and its affiliates have been involved in the creation, development, construction and management of over 50 real estate projects which are expected to result in the development of over 15,000 residential and commercial units.
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.