The value-add programs aim to enhance the quality and operation of each of the properties making them more energy efficient, enhancing common areas and the suites, and improving the financial performance of the assets.
In Canada, Greyspring’s portfolio includes 30 buildings in the Greater Montreal Area, with over 1,850 units under management at an estimated asset value of $480 million. In the US, Greyspring manages two garden-style apartment properties with a total of 566 units at an estimated asset value of US$90 million. Last year, over 250 suites across the Canadian portfolio were upgraded as part of our value-add programs, bringing the total number of value-added suites in the portfolio to over 800.
Greyspring Apartments is expected to add an additional 760 units across a portfolio of four buildings that are under contract to close in Q2 2023. Together these new acquisitions will bring Greyspring’s Canadian portfolio to 34 buildings and 2,600+ units with an estimated asset value of $610M. As part of our ongoing strategy, we have successfully sold five properties with a total 700+ units in Montreal, Quebec City and Ottawa-Gatineau.
The Greyspring Apartments team is dedicated to creating long-term value for its investors, tenants, and the communities in which we operate. By acquiring underperforming properties in strong rental markets, we can identify opportunities for growth and improvement. Our team’s extensive experience in real estate development and management allows us to leverage the team’s knowledge and expertise to maximize the potential of each asset.
Along with the latest acquisition, Greyspring has formed its own property management company, GMR Real Estate, that will have property management responsibilities for the 160 units we have more recently acquired and any future acquisitions.
Greybrook is actively evaluating multi-family value-add opportunities in several primary and secondary markets in the U.S. and Canada that meet our investment parameters for this asset class. One of our areas of focus in 2023 will be to provide our investors with new value-add investments that can generate strong returns with ongoing distributions and offer diversification into new markets and this asset class.
On December 20th, Greybrook successfully closed on a $42,000,000 investment completed by its managed issuer. The funds will be used to acquire and oversee the development of a prime parcel of land located at the intersection of Warden Avenue &…
Greybrook is proud to share our support towards the revitalization of The City of Cambridge’s Preston Memorial Auditorium. This contribution will play a crucial role in the ongoing renovation and expansion of the recreational facility, which will continue to serve…
This past fall, the 5th Annual Velo Blu charity ride for Blu Genes took place, bringing together over 140 participants and raising more than $400,000 for gene therapy research. Set at Peller Estates Winery, this unforgettable event highlighted the power of community…
Since its launch last October, the low-rise, master-planned community—developed in partnership with Tribute Communities—has continued to attract interest from prospective buyers eager to experience the small-town charm of Lindsay. Now, with the grand opening of the showhomes, buyers have the…
The rise of artificial intelligence (AI) and the increasing adoption of technology across industries has led organizations to explore new ways to transform and streamline operations to stay competitive. As a result, the demand for tech talent has surged, often…
One of the most common questions we hear from investors is: How do we determine where to invest, especially as markets evolve? In today’s dynamic real estate landscape, making sound investment decisions requires a disciplined and selective approach. During a…
We’re excited to share the highlights from Inside Track 2024, our annual investor event that offers industry-leading insights and engaging discussions on the future of real estate and the broader economy. This year, attendees had the opportunity to hear from…
Greybrook and our partners PMG, are pleased to announce that pre-leasing has commenced for Society Atlanta. Located at 811 Peachtree St. NE, Society Atlanta is a 31-story tower featuring 460 rental apartments, over 87,000 square feet of office space and…
We recently had the opportunity to fly over our Archetto Towns project in Woodbridge, offering a new perspective of our 91 townhomes low-rise community. Standing out against the eye-catching backdrop of vibrant fall foliage, this exclusive collection of contemporary townhomes,…
We are thrilled to announce that our Artistry Condos high-rise development in Toronto’s vibrant Grange Park community has reached a significant milestone with the successful topping-off of the building. This achievement marks the completion of the structural formwork at its…
