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.
Since breaking ground in September 2021, construction has progressed steadily across the site, with the building top-off expected in early 2024. The compact nature of the downtown construction site at approximately 0.4 acres offered unique challenges to completing the…
Our Linx Condos development will soon reach a significant construction milestone with the official building top-off. We recently took a tour of the high-rise building to see the progress made to date thanks to the hard work of our construction…
Click here to listen to the engaging interview below titled “State of the Market: Mastering Acquisitions.” During the discussion, Peter provided insight into Greybrook’s expanding portfolio in South Florida with completed projects, including The Elser Hotel & Residences and Society…
On April 19, Greybrook’s managed issuer successfully closed on a $40,000,000 equity investment. The funds will be used to acquire and oversee the development of a parcel of land located on the west side of St. Lawrence Avenue, south of…
On the east side of the site, vertical construction of the townhomes has commenced following the completion of the forming of the underground garage last year, with four of the seven townhome blocks on this portion of the site at…
Since we began investing in Florida, we have watched the Sunshine State grow significantly, benefiting from consistent migration to the state and a transformation of cities and key markets along the east coast. With a population of over 22.2 million…
With construction equipment and crews mobilized on site, the foundation digs have begun on the first homes in the community. Construction of the Wastewater Treatment Plant is also progressing well and is expected to be operational in time for the…
This internal event is an opportunity for the Greybrook team to reflect on the achievements and milestones we have accomplished together while looking forward to the year ahead and beyond. Greybrook’s leadership team shared our 2022 achievements during this year’s…
At Greybrook, we are honoured to have many talented, dedicated women on our team who have enormously impacted our company. This year’s International Women’s Day theme is #EmbraceEquity, which emphasizes the importance of creating a more equitable world for women.…
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…
