TORONTO, Feb. 05, 2018 (GLOBE NEWSWIRE) -- Greybrook Realty Partners Inc. announced today the successful closing of an equity investment by its managed issuer of $10,985,000 to acquire and oversee the development of a prime parcel of land located in Brooklin, Ontario. Together with its developer partner, Fieldgate Homes, the firm will develop the land into a residential community consisting of over 170 single-detached homes, freehold townhomes and condominium townhomes.
Situated approximately 65-kilometres east of Toronto, within the Town of Whitby, the community of Brooklin offers residents a modern, yet idyllic setting with abundant nearby amenities located throughout the greater Durham Region. The 18-acre development site, which is located at 7150 Thickson Road, provides convenient access to the newly extended Highway 407. The site is also located a short drive from scenic downtown Brooklin, a designated heritage conservation district with properties dating as far back as the mid 1800s. Residential development continues in the Town of Whitby, as new residents attracted by Whitby’s charm continue to move to and settle in the town.
“We are delighted to announce our fourth venture with Fieldgate Homes, an exceptional partner with an established track-record of success,” states Peter Politis, CEO of Greybrook Realty Partners. “This development represents another high-quality addition to our portfolio and our second venture with Fieldgate in Whitby. The project will provide much-needed housing supply to a region that is demonstrating strong demand-side characteristics and rapid economic development and that continues to make important infrastructure investments.”
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 9,000 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 opportunity 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 32 million square feet of residential and commercial density, with an estimated completion value of $14 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.
For further information:
Greybrook Realty Partners Inc.
Sarah Mansour, SVP Corporate Strategy & Marketing
E: sarah.mansour@greybrook.com
T: 416.322.9700 x551