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.
Across our portfolio, we completed over 1,600 home closings last year both in Ontario and South Florida, with the momentum continuing into 2024 with over 1,700 homes set to occupy and close throughout the year. Whether it is a single-family…
Our 49-storey luxury condominium with developer partner PMG continues to garner interest from both local and international buyers eager to leverage its appealing hotel-condominium program, which commenced operation last summer. Since its late 2022 launch, the downtown Miami hotel and…
The townhome development has added 114 units to the highly sought-after community of Thornhill. The expanding suburb is in the rapidly growing City of Vaughan which welcomed the largest number of new residents in the York Region during the most…
Complete with popcorn and concessional snacks, this year’s internal event was 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.Over the past year,…
With the construction of all homes in our Kingsview Ridge community complete, home occupancies continue as we welcome the remaining homeowners to their new homes in this low-rise community. Developed in partnership with Treasure Hill, Kingsview Ridge has brought 305…
In celebration of International Women’s Day 2024, Greybrook hosted a virtual fireside conversation on Thursday, March 7th joined by guest speaker, Manica Blain who shared her career and entrepreneurial journey—and how the power of having a clear vision and forging…
We are committed to enhancing our corporate capabilities to support the success of our growing portfolio of investments and to deliver an exceptional experience for our growing base of individual and institutional clients. In line with this commitment, we’re pleased…
With construction of our Colgan Crossing community progressing rapidly over the past year, we were very pleased to begin home occupancies and welcome the first homeowners to their new homes in this brand-new community in late 2023. Our 191-acre master-planned…
In a groundbreaking announcement last month, it was revealed that Amazon MGM Studios will assume the exclusive lease for Pinewood Toronto Studios situated in the heart of the city. This multi-year commitment grants Amazon MGM Studios control over five expansive…
We invite you to watch a video walkthrough of our Lindsay Heights project, with developer partner Tribute Communities. Take a stroll through our meticulously designed 36′ and 20′ homes and catch a glimpse into the distinctive features and contemporary charm…
