TORONTO, June 20, 2017 (GLOBE NEWSWIRE) — Greybrook Realty Partners Inc. announced today the successful closing of an equity investment by its managed issuer of $12,650,000 to acquire and oversee the development of a prime parcel of land located in Toronto, Ontario. Together with its developer partner, Marlin Spring, the firm will develop the land into a mixed-use mid-rise condominium residence consisting of over 240 units and 5,000 square feet of commercial space at grade.
Located within the northern-most boundary of the Junction neighbourhood in the City of Toronto, the development site is situated on St. Clair Avenue West amidst an established residential and commercial community. The development site is steps away from some of the city’s trendiest bars, shops, restaurants and music venues, and is easily accessible via TTC transit. Nearby amenities include the Stockyards Village shopping centre and outdoor recreational spaces at George Bell Arena and Runnymede Park.
“With the continued gentrification and ongoing investment in the area, the Junction is an ideal location for our offering of a boutique mixed-use condominium,” explains Peter Politis, CEO, Greybrook Realty Partners. “The project provides our investors with an attractive Toronto-based development and buyers with much needed housing supply within the City of Toronto. This is one of several partnerships we have with Marlin Spring, a developer that is quickly establishing a reputation for their forward-thinking and strong execution.”
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.
CONTACT: For further information: Greybrook Realty Partners Inc. Sarah Mansour, SVP Corporate Strategy & Marketing E: firstname.lastname@example.org T: 416.322.9700 x551