GreyBrook logotype
Investor Login Contact Us

Greybrook Invests USD $37,370,000 in Partnership with Property Markets Group to Develop Tallest Ultra-Luxury Residential Condominium in Miami, Florida

Date:
December 21, 2015
Share:

REVISION: The press release, issued on Thursday December 17, 2015, has been revised to clarify the reference to population growth projections for the state of Florida.

Greybrook Securities Inc. and Greybrook Realty Partners Inc. are pleased to announce the successful deployment of USD $37,370,000 in equity capital to develop an ultra-luxury residential condominium located at 300 Biscayne Boulevard, in the heart of Miami, Florida. Greybrook Realty Partners has partnered with Property Markets Group (PMG) to build the tallest tower in Miami.

Located directly across from Bayfront Park, the site is one of the last infill parcels in the downtown Miami area featuring unobstructed views of Biscayne Bay, Miami Beach, South Beach and the Atlantic Ocean. Miami was recently ranked the sixth most important city in the world to ultra-high-net-worth individuals, second only to New York in North America. Furthermore, according to the 2005 US Census Bureau Interim State Population Projections, Florida’s population is projected to grow to approximately 28 million people by 2030, which would represent a 12 million person increase since 2000.

“We are pleased that Greybrook will be our partner in developing the next iconic residential development in the heart of Downtown Miami,” explains Kevin Maloney, CEO of Property Markets Group. “The partnership marks a great milestone for the two companies to potentially work together on future endeavors.”

“Downtown Miami has become increasingly competitive with Miami Beach as a sought-after residential, commercial, tourist and cultural hub,” said Sasha Cucuz, CEO of Greybrook Securities. “Miami is becoming a new global gateway market with the downtown Miami core at the epicenter of a city that has a growing financial sector and is the destination of choice for commerce and entertainment.” Miami is the second most popular banking hub in the United States and home to over 60 international banks and nearly 100 alternative investment companies.

“Greybrook is always monitoring major real estate markets across North America for high-quality investment opportunities. The Miami market meets a number of Greybrook’s investment parameters, and is a market in which we plan to make future investments,” says Greybrook Realty Partners CEO Peter Politis. “We are thrilled to be working with a partner of PMG’s caliber, and plan on expanding our partnership with the firm and building on the strong relationship with PMG Founder Kevin Maloney and Principal Ryan Shear in Miami.” PMG has offices in New York, Miami and Chicago and is developing six projects in South Florida with an estimated sellout value of about USD $2 billion.

Latest Insights

Greybrook Team Rides in Baycrest’s Bike for Brain Health

Uncategorized
June 6, 2023

The team successfully raised $6,400 for Baycrest, helping to continue research, innovation, care, and education in the field of aging and brain health. This year’s charity ride, led by Canadian fitness icons Hal Johnson and Joanne McLeod from BodyBreak, aimed…

Greybrook Team Volunteers for Habitat for Humanity Women Build Day in Oshawa

Uncategorized
May 31, 2023

The crew from Greybrook teamed up with the construction professionals at 485 Normandy Street, Habitat for Humanity GTA’s most recent development in Oshawa, which will add 50 affordable units to the community. This initiative and GTA build day will help…

The House of Assembly Reaches New Heights with Crane Installation Onsite

May 29, 2023

As vertical construction begins, it will be exciting to see this 16-storey residence designed by Graziani + Corazza Architects Inc. start to take shape. The first of three condominium buildings in the Sterling Junction neighbourhood with developer partner Marlin Spring,…

181 East is Taking Shape in North York

Portfolio Updates
May 26, 2023

The western portion of the site is forming the third floor, and the eastern part is currently forming the ground floor verticals. Over the next few months, formwork will continue to the roof, with the building top-off expected to occur…

Greybrook’s Perspectives & Insights Event

Insights
May 25, 2023

We had the pleasure of welcoming over 120 investors and guests to the event, which provided us with a great opportunity to meet with our investors in person and share with them our perspectives on the economic outlook for Canada…

Artistry in Downtown Toronto Completes Underground Structure & Begins Vertical Construction

April 28, 2023

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…

Stunning City Views Atop Linx Condos in Toronto’s East End

Portfolio Updates
April 25, 2023

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…

Peter Politis Talks Greybrook Acquisitions on The State of the Market Podcast

Multi-media
April 24, 2023

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…

Greybrook Invests $40,000,000 In A High-Rise Residential Development Project With Marlin Spring In Etobicoke, Ontario

April 19, 2023

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…

The Way: Collegeway First Block of Townhomes Nearing Completion

March 31, 2023

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…

All Publications

Join our newsletter and keep up to date with our news & insights

Contact us