TORONTO, Dec. 17, 2015 (GLOBE NEWSWIRE) -- Greybrook Securities Inc. and Greybrook Realty Partners Inc. are pleased to announce the successful deployment of USD $37,370,000 in equity capital to develop an ultra-luxury residential condominium located at 300 Biscayne Boulevard, in the heart of Miami, Florida. Greybrook Realty Partners has partnered with Property Markets Group (PMG) to build the tallest tower in Miami.
Located directly across from Bayfront Park, the site is one of the last infill parcels in the downtown Miami area featuring unobstructed views of Biscayne Bay, Miami Beach, South Beach and the Atlantic Ocean. Miami was recently ranked the sixth most important city in the world to ultra-high-net-worth individuals, second only to New York in North America. Furthermore, Florida is projected to realize the largest population growth of any state in the United States, increasing by over 12 million people by 2030 according to the US Census Bureau.
“We are pleased that Greybrook will be our partner in developing the next iconic residential development in the heart of Downtown Miami,” explains Kevin Maloney, CEO of Property Markets Group. “The partnership marks a great milestone for the two companies to potentially work together on future endeavors.”
“Downtown Miami has become increasingly competitive with Miami Beach as a sought-after residential, commercial, tourist and cultural hub,” said Sasha Cucuz, CEO of Greybrook Securities. “Miami is becoming a new global gateway market with the downtown Miami core at the epicenter of a city that has a growing financial sector and is the destination of choice for commerce and entertainment.” Miami is the second most popular banking hub in the United States and home to over 60 international banks and nearly 100 alternative investment companies.
“Greybrook is always monitoring major real estate markets across North America for high-quality investment opportunities. The Miami market meets a number of Greybrook’s investment parameters, and is a market in which we plan to make future investments,” says Greybrook Realty Partners CEO Peter Politis. “We are thrilled to be working with a partner of PMG’s caliber, and plan on expanding our partnership with the firm and building on the strong relationship with PMG Founder Kevin Maloney and Principal Ryan Shear in Miami. PMG has offices in New York, Miami and Chicago and is developing six projects in South Florida with an estimated sellout value of about USD $2 billion.
About Greybrook Realty Partners Inc. and Greybrook Securities 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 units totaling over $6 billion in aggregate completion value. Greybrook Securities, an exempt market dealer (registered in Ontario and certain other provinces), related to Greybrook Realty Partners, offers qualified investors the opportunity to participate in the securities offerings organized by Greybrook Realty Partners.
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.
About Property Markets Group (PMG):
PMG is currently developing over fifteen projects between Manhattan, Miami and Chicago. Some notable developments include 210 West 18th Street developed in partnership with JDS Development, a $600 million luxury condominium project in Manhattan; 435 West 50th Street developed in partnership with JDS Development, a $200 million multi-family residential project in Manhattan; 10 Sullivan; 111 Leroy; 627 Greenwich; $1.6 billion project at 111 West 57 th Street developed in partnership with JDS Development, which is slated to be among the tallest residential buildings in Manhattan. Current PMG developments in South Florida include “95th On The Ocean” developed in partnership with JDS Development, one block from Bal Harbor Shops ( http://www.95thontheocean.com/ ); "Sage Beach” – a 24 unit boutique development on the sand in Hollywood Beach ( http://www.mysagebeach.com/ ); and the sister project to Echo Brickell, “Echo Aventura”, developed in partnership with JDS Development – a 190 luxury condominium located on the last water front property in Aventura ( http://www.echoaventura.com/ ). Mei Miami Beach is a PMG signature development, delivered in 2008 and is regarded as the premier development on Millionaires' Row in Miami Beach. Echo Brickell, another development by PMG and JDS is 180 residences located in the heart of the financial district ( http://www.echobrickell.com/ ). The development will mirror PMG's 25 year history of delivering boutique luxury condominium product. In addition, PMG is also developing Muse Residences located in Sunny Isles which consists of 68 oceanfront residences ( http://museresidences.com ). Furthermore, PMG has launched its first rental development in Downtown Miami called Vice and has plans for another project which will be unveiled in the first quarter of 2016. The exclusive sales and marketing team for all Florida projects is ISG World.
For further information on Greybrook Realty Partners: Sarah Mansour, VP Marketing E: sarah.mansour@greybrook.com T: 416.322.9700 x551 For further information on PMG please contact: Rachel Levy Levy Public Relations 305.764. 3370 ext. 202 rachel@levypublicrelations.com
