TORONTO, Jan. 19, 2015 (GLOBE NEWSWIRE) -- Greybrook Securities Inc. and Greybrook Realty Partners Inc. are pleased to announce the successful closing of an $8,600,000 equity private placement of units of the Greybrook Markham Limited Partnership.
Proceeds from the placement will be used for the acquisition and development of a 201-unit townhome project located in the heart of Markham. The development will be done in partnership with Andrin Homes and Tiffany Park Homes, two well established Toronto developers.
The project located at 7128 Highway 7 East is in close proximity to shopping, transit and highways within Markham, one of the fastest growing municipalities in Ontario. With more than 400 corporate head offices and over 1000 high tech and life science companies located in this progressive city, home prices have seen a healthy growth over the past decade.
"Andrin Homes, along with Tiffany Park Homes is proud to be partnering with Greybrook on another quality development project in the Markham community," commented Jeff Kerbel, Principal of Andrin Homes. "We are extremely excited about the partnership, this project and the opportunity to create something special for the residents of the City of Markham to enjoy for generations to come." Greybrook Realty Partners President, Peter Politis, shares Mr. Kerbel's enthusiasm on both the site and the partnership between the three firms. He commented: "Greybrook Realty is thrilled to be working with Andrin and Tiffany Park Homes on this development project that will undoubtedly bring an exquisite, family oriented neighborhood to the city. Andrin Homes and Tiffany Park Homes are among the most experienced and recognized developers in Toronto and we look forward to another successful outcome for Greybrook and our investors."
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 49 projects totaling over 13,500 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.