Greybrook Realty Partners Invests $20,000,000 in a Mid-Rise Residential Development Project ...
Development expands Greybrook’s presence in the Stockyards District, becoming the third
investment in the area alongside developer partner Marlin Spring.
TORONTO, Aug. 20, 2021 (GLOBE NEWSWIRE) -- Greybrook Realty Partners Inc. announced today the successful closing of an equity investment by its managed issuer of $20,000,000 to acquire and oversee the development of a prime parcel of land located at 2237, 2255, and 2283 St. Clair Avenue West in the City of Toronto. Together with its developer partner, Marlin Spring, the firm intends to develop the land into a mid-rise condominium residence comprised of two connected buildings consisting of over 380 units.
Located on St. Clair Avenue West, between Runnymede Road and Keele Street and in Toronto’s Stockyards District, the development site is well situated with nearby cafés and restaurants, and minutes away from RioCan’s Stock Yards Village, a 500,000 square foot shopping centre spanning two levels with over 50 major retailers and range of dining options. The site is well connected with convenient access to a streetcar stop on St. Clair Avenue West and a short walk to the proposed future St. Clair – Old Weston GO Station, included in the SmartTrack Station Program, which is anticipated to commence operations in 2026 and offer passengers direct access to Union Station in approximately ten minutes. The development site is steps away from popular outdoor recreational parks and activities, including Runnymede Park and an outdoor ice rink at George Bell Arena, and is a short drive to the Gardiner Expressway, offering easy connection to Toronto’s downtown core and Highway 427 and 400 series highways.
“This is a great addition to our development portfolio and an opportunity to further expand our footprint in Toronto’s burgeoning Stockyards District neighbourhood with our developer partner Marlin Spring,” said Jared Berlin, Executive Director, Asset Management, Greybrook Realty Partners. “The development site is directly across the street from our Stockyards District Residences that is expected to begin occupancy in early 2022, and adjacent to our Upper Junction II development. These developments, along with others in the neighbourhood will encourage more retail and lifestyle amenities as the buildings are completed and add to a neighbourhood known for its strong community roots and excellent current and future transit options.”
About Greybrook Realty Partners Inc.
Greybrook Realty Partners is a leading Toronto-based real estate private equity firm focused on investments in residential development and value-add assets. The firm offers investors the unique opportunity to partner with leading North American real estate developers and share in value creation activities. Greybrook Realty Partners, through its affiliates, has invested over $1.4 billion of equity in more than 85 real estate projects across Canada and the United States. In aggregate, its real estate investment portfolio is expected to result in the development of over 44 million square feet of residential and commercial density, with an estimated completion value of $20 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, Executive Director, Strategy & Corporate Development
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