GreyBrook logotype
Investor Login Contact Us

Greybrook Realty Partners Invests $17,785,000 in a Luxury Retail Redevelopment Project with First Capital Realty in Toronto, Ontario

Date:
September 21, 2016
Share:

Greybrook Realty Partners Inc. is pleased to announce the successful deployment by its managed issuer of $17,785,000 in equity to acquire a property located at 101 Yorkville Avenue, Toronto, Ontario. The property, which is co-owned with First Capital Realty Inc., is expected to be redeveloped into a luxury retail development. First Capital will act as development, leasing and property manager for the retail project.

The 0.5-acre site is situated in the heart of Toronto’s iconic Yorkville neighbourhood and represents a prime redevelopment opportunity. Upon completion, the development is expected to feature approximately 35,000 square feet of premium retail space and offer prime retail frontage along prestigious Yorkville Avenue.

Yorkville is known for its combination of upscale boutiques, dining and entertainment and it is a premier luxury retail destination featuring prestigious international brands. The Yorkville neighbourhood is experiencing a surge in interest as global luxury retailers, who are looking to expand into the Canadian market, seek alternatives to Bloor Street West. Recently executed leases with international brands ChanelTM and Christian LouboutinTM are indicative of the transformation currently underway in the area’s retail landscape towards a more ultra-luxury tenant mix.

“This asset’s location in one of Canada’s most desirable and sought-after retail destinations provides an extremely rare opportunity to acquire a one-of-a-kind asset of this calibre. We are delighted that the addition of this exceptional property will further enhance Greybrook’s portfolio of diversified investments,” said Peter Politis, CEO of Greybrook Realty Partners. “The redevelopment project will be tailored to meet leading international luxury tenants’ demanding requirements.”

First Capital Realty is a leading owner, developer, and property manager of retail properties across Canada that has significant presence in Yorkville. “With major investments in Yorkville, including the newly revitalized Yorkville Village, First Capital’s ability to redefine the Yorkville retail experience aligns nicely with our overall vision for the area. We are thrilled to be partnering with First Capital and look forward to a long and successful partnership,” commented Mr. Politis.

This transaction represents Greybrook’s fourth project in Yorkville and further strengthens the Company’s strategic investments in the area. These investments have a total projected aggregate and actual completion value of approximately $900 million.

Click to read the press release on Globe Newswire.

Latest Insights

Toronto Ranks 4th in CBRE’s 2024 Top 50 North American Tech Talent Markets

Insights
November 29, 2024

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…

Boardroom Brief: EP. 04 – An Inside Look at How We Make Investment Decisions in Today’s Market

Insights
November 28, 2024

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…

Inside Track 2024: Highlights from Our Annual Investor Event

Company News
November 14, 2024

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…

Society Atlanta Now Accepting Applications for December Move-Ins

Portfolio Updates
November 13, 2024

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…

Archetto Towns Takes Shape Amid Vibrant Backdrop of Fall Foliage

Portfolio Updates
November 8, 2024

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,…

Artistry Condos Celebrates Key Construction Milestone with Topping Off Ceremony

Portfolio Updates
November 6, 2024

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…

Linx Condos Receives Heritage Toronto Award Nomination

Portfolio Updates
November 5, 2024

We are proud to share that Linx Condos was recently nominated for the prestigious Heritage Toronto Awards in the Built Heritage category. This year’s 49th Annual Heritage Toronto Awards celebrated exceptional contributions to the preservation and evolution of the city’s…

Sasha Cucuz Joins the Latest Episode of Toronto Under Construction to Take a Deep Dive into Real Estate Investment

Insights
October 28, 2024

In the latest episode of the Toronto Under Construction podcast, CEO Sasha Cucuz joins Bullpen Consulting’s Ben Myers and guest co-host Matt Young for an in-depth discussion on real estate investment. The conversation offers insights into Greybrook’s evolution, highlighting its strategic…

Boardroom Brief: EP. 03 – Ontario’s New Provincial Planning Statement, 2024: What Impact Will it Have?

Insights
October 23, 2024

On October 20th, 2024, the Ontario government’s Provincial Planning Statement, 2024 (PPS 2024) came into effect, aiming to streamline the province’s land use planning framework. This new policy replaces both the Provincial Policy Statement, 2020, and A Places to Grow:…

Inside Track 2024: Economic Insights from CIBC’s Benjamin Tal and CEO Perspectives on the Current & Future Real Estate Market

Company News
October 22, 2024

The evening featured the prominent Benjamin Tal, Deputy Chief Economist and Managing Director of CIBC World Markets, who delivered his expert analysis of macroeconomic data and real estate trends in the Canadian market. Following his keynote, attendees enjoyed an engaging…

All Publications

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

Contact us