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Sasha Cucuz and CIBC Deputy Chief Economist Present at Annual Greybrook Investor Event in Israel

February 28, 2023

On February 15th, Greybrook’s Israeli affiliate, Yazamnoo, hosted their annual investor event at the Daniel Hotel in Herzelia, Israel.

The event offered Greybrook’s Israeli investors an opportunity to meet with fellow investors, engage with the Greybrook and Yazamnoo team, and hear keynote presentations from Sasha Cucuz, CEO of Greybrook Securities Inc., and CIBC’s Deputy Chief Economist, Benjamin Tal, who was interviewed for the event.

The event was attended by over 100 existing and prospective investors, many of whom have been investing with Greybrook since 2016. The event kicked off with an interview between Nir Kahn, CEO of Yazamnoo, and Benjamin Tal on the state of the Canadian economy, the real estate market, and the economic outlook for the year ahead.

Tal shared his expectations of the Bank of Canada’s monetary policy, expecting interest rates to decline slowly beginning in mid-2023, with the market returning to a reasonable level of inflation by the end of 2024. He went on to explain that as interest rates come back down through 2024, the strong demand for housing would return, driven by those waiting for a return to a lower interest rate environment and from the persistent population increases associated with Canada’s aggressive immigration plans.Following the informative presentation, Sasha Cucuz continued the conversation building on many of the points that Tal made about the need to drastically increase the number of homes being built in Ontario, and he spoke to investors about how to make sense of the uncertain times. Sasha shared some practical examples of how Greybrook and our partners are managing our portfolio of active projects during the changing times following the pandemic years. He also provided insights into how we are thinking about acquisitions given the current market context, reiterating Greybrook’s disciplined approach to underwriting and our continued belief in the long-term fundamentals that support our investment thesis in our chosen markets.

The conversation concluded with an engaging Q&A where investors had an opportunity to ask questions about the market, their investments, and future investment opportunities, including our upcoming investment along The Queensway.
“This is a very important event for our Israeli investors who are investing in the Canadian real estate market,” said Nir Kahn, CEO of Yazamnoo. “With distance being a barrier, our investors do not get to see the cranes in the sky and the building construction in the city, so this annual event provides a platform that connects investors with industry experts and Greybrook to answer questions, gain valuable insights and a deeper understanding of this exciting market. We look forward to hosting next year’s event.”

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