Greybrook Securities Inc. and Greybrook Realty Partners Inc. are pleased to announce the successful deployment of $12,350,000 in equity capital to acquire a 199-acre parcel of land located in Colgan, Ont., and develop 315 single-family detached homes in partnership with Tribute Communities.
Colgan is a growing region north of the Greater Toronto Area adjacent to the rapidly expanding community of Tottenham, and is within South Simcoe County, one of the fastest growing regions in Ontario according to the MLS Home Price Index.
Over the past three years, five new residential communities have been launched in the immediate vicinity, including Deer Springs by Honeyfield Communities and Evergreen Estates of Loretto by Firstview Homes, which are both sold out. In addition, neighbouring communities, the Town of Bradford West Gwillimbury and New Tecumseth, reported a 30% year-over-year increase in home prices and a 100% absorption rate year-to-date in 2015, according to CMHC.
Growth in the region will also be spurred by Honda Motor Company’s recent announcement of its plans to invest $857 million in three plants that employ a total of 4,000 in Alliston, Ont., just 15 minutes north of Colgan.
“It’s not every day that you come across an opportunity to invest in an area with strong demand characteristics like the ones we are seeing in Colgan, and to partner with a top-tier developer. These are two of the most important factors we consider when making an investment,” said Sasha Cucuz, CEO of Greybrook Securities.
This development represents Greybrook’s fourth partnership with Tribute Communities. “Tribute Communities has established a fantastic reputation for their execution and the quality of their developments. Having built over 30,000 homes in southern Ontario, we are confident in our partner’s ability to deliver an exceptional product,” commented Cucuz.
Listen to this article: It is difficult to find a market conversation today that does not eventually lead back to interest rates. For Canadian advisors, there are particularly good reasons to be paying attention. U.S. Treasury yields have moved materially…
Last season, Greybrook became the first-ever lead sponsor of York Lions Men’s Hockey. This year, extending that support to the women’s program was a natural next step and reflects something we believe deeply: sport shapes future leaders. It is an…
Greybrook team members rode in support of the 7th Annual Velo Blu Charity Bike Ride in Niagara-on-the-Lake, helping raise $270,000 to advance research into rare childhood diseases and gene therapy through the Blu Genes Foundation. Held at the scenic Peller…
On Sunday, September 20, Greybrook joined runners, walkers, volunteers and community supporters at the 17th Annual Constantine Yorkville Run, coming together to raise funds for charities making a difference across Toronto. As a Presenting Partner, Greybrook was proud to once…
Members of Greybrook’s Institutional Capital Markets team recently attended and sponsored Future Proof Festival, the world’s largest four-day wealth management festival, held in Huntington Beach, California. As part of its sponsorship, Greybrook supported the QWealth Canadian Lounge, a dedicated gathering…
Lindsay Heights, our low-rise, master-planned community in the City of Kawartha Lakes, is set to welcome one of its most anticipated neighbourhood retail additions with the opening of a Walmart Supercentre. Located at the northwest corner of Lindsay, at Highway…
This advancement marks a significant milestone for Florida’s first supertall Downtown Miami residence, a signature hallmark of the renowned Waldorf Astoria brand, offering a collection of 205 luxury hotel guestrooms, dedicated five-star service and once-in-a-lifetime experiences. Construction of the staggered…
Listen to this article: The best time to buy durable assets is rarely the moment they feel comfortable to buy. In multifamily, rent growth tells you where a market is today, but the conditions that signal where it is heading…
Dallas-Fort Worth has been one of the most closely watched multifamily markets in the United States over the past several years. Long-term population and employment growth, rapid corporate relocations, relative affordability and a deep, diversified economy have helped draw a…
The launch of the Greybrook U.S. Multifamily Income & Growth Fund reflects our continued evolution as a North American real estate investment platform — expanding into institutional-quality, income-producing U.S. multifamily assets and giving investors access to a strategy built around…
