Greybrook Realty Partners Inc. announced today the successful closing of an equity investment by its managed issuer of $55,475,000 to acquire and oversee the development of three prime parcels of land located on the northwest and northeast corners of Markham Rd. and Major Mackenzie Dr. E., in Markham, Ontario. Together with its developer partner, Fieldgate Homes, the firm intends to develop a residential community consisting of over 850 townhomes and six high-density residential condominium blocks.
The City of Markham has experienced exceptional growth in recent years, establishing itself as the largest municipality in York Region and the fourth most populous city in the Greater Toronto Area. Markham is the home of the second largest tech cluster in Canada, anchored by over 1,500 technology companies and a high concentration of Canadian head offices, employing a highly educated and skilled workforce. Situated across from an established neighbourhood, the development site is close to key transit nodes and provides exceptional access to major highways. The site is also in close proximity to several area amenities including, the Angus Glen Community Centre and the Angus Glen Golf Club — home of the 2002 and 2007 Canadian Open, the CF Markville Mall as well as the future proposed York University Markham campus (slated to open in 2023).
“We are thrilled to once again be working alongside our developer partner, Fieldgate Homes, a top-tier developer with extensive experience developing in the City of Markham and York Region” said Jared Berlin, Executive Director, Asset Management at Greybrook Realty Partners. “This will be our eighth residential development together and we look forward to expanding our presence in the region and providing the homes needed to meet the strong housing demand in Markham, a city with a rapidly increasing population but a scarcity of developable residential lands.”
Forward-Looking Information
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
media@greybrook.com
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