TORONTO, April 18, 2016 (GLOBE NEWSWIRE) -- Greybrook Realty Partners Inc. is pleased to announce the successful deployment by its managed issuer of $14,275,000 in equity to acquire and subsequently manage the development of a parcel of land located in Markham, Ontario. The property is co-owned with Marlin Spring and will be developed into a residential townhome community.
Markham has experienced strong residential development in recent years and has become one of the fastest growing municipalities in Ontario. Attracting an educated and diverse workforce, Markham’s well defined transportation network and rich community amenities have made it a major employment hub. Situated within an established residential neighbourhood, the development site is close to key amenities and enjoys excellent access to major highways and transit options. Centrally located, the site is also near several major projects, recently completed or announced, including the Markham Pan Am Centre, Markham Downtown, and the proposed future York University Markham Centre campus.
“With a robust employment base and attractive quality of life, the strong demand for housing in Markham is a key reason why this is our third development in Markham,” said Greybrook Realty Partners' Director, Alex Riajskikh. “As Markham continues to be built out and there remains a scarcity of developable residential lands available, Greybrook remains focused on seeking out the right opportunities in this attractive sub-market.”
“We are delighted to enter into our inaugural partnership with Marlin Spring,” said Peter Politis, CEO of Greybrook Realty Partners. “Their management team’s extensive industry experience with a leading Canadian real estate developer will be a valuable asset to the success of our development. We look forward to building a fruitful partnership with many future opportunities to come.”
Greybrook Realty continues to expand the portfolio of low-rise development holdings that it manages, which includes over 700 acres of land in Southern Ontario. The development of these properties is projected to result in the completion of nearly 4,000 single-family 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.
For further information: Greybrook Realty Partners Inc. Sarah Mansour, SVP Corporate Strategy & Marketing E: sarah.mansour@greybrook.com T: 416.322.9700 x551
