Greybrook Realty Partners Inc. announced today the successful close of an equity investment by its managed issuer of $40,165,000 CAD to acquire and oversee the development of a prime parcel of land located in Fort Lauderdale, Florida. The Property is jointly owned with US developer Property Markets Group (PMG) and is expected to be developed into two multi-residential rental towers consisting of approximately 1,100 luxury units and 37,500 square feet of retail.
Centrally located between Miami and Palm Beach, Fort Lauderdale is one of the largest cities in Florida. The city offers world-class education, easy access to domestic and international markets, a business-friendly government and attractive quality of life. With a number of large corporations relocating to the area in recent years, Fort Lauderdale has quietly transformed beyond tourism and established itself as a major employment destination and growing urban centre.
Situated on the Las Olas Riverfront in the heart of downtown Fort Lauderdale, the development site is ideally positioned between the city’s art, entertainment and central business districts. The site’s premium location will offer future residents convenient access to first-class entertainment and cultural amenities, millions of square feet of office and retail space, and an increasing number of transportation options as major infrastructure projects such as All Aboard Florida and The Wave Streetcar reach completion. In addition to accessibility, the project’s amenity-rich offerings, cutting edge technology and attractive unit mix will appeal directly to the tailored lifestyle preferences and requirements of the area’s growing young professionals.
“This transaction presents a rare investment opportunity to own an in-demand, core asset in a growing market like Fort Lauderdale. With robust job creation, and decreasing demand for home ownership, the result has been an increase in rental demand, making Fort Lauderdale an attractive location for investment in multifamily developments,” stated Peter Politis, CEO of Greybrook Realty Partners.
“This project not only increases our investment holdings in the South Florida region, but also increases our exposure in the multifamily rental asset class, which is in line with our current investment strategy. With PMG’s expertise and track record of success, we are confident this project will not only fulfil a real demand in the rental segment but will redefine rental living in the area. From unit size and layouts that are more favorable to the needs of renters to carefully curated amenities and services, this thoughtfully designed project is set to become Fort Lauderdale’s most coveted residence for millennials,” commented Mr. Politis. This development represents Greybrook Realty Partners’ second partnership with PMG.
On December 20th, Greybrook successfully closed on a $42,000,000 investment completed by its managed issuer. The funds will be used to acquire and oversee the development of a prime parcel of land located at the intersection of Warden Avenue &…
Greybrook is proud to share our support towards the revitalization of The City of Cambridge’s Preston Memorial Auditorium. This contribution will play a crucial role in the ongoing renovation and expansion of the recreational facility, which will continue to serve…
This past fall, the 5th Annual Velo Blu charity ride for Blu Genes took place, bringing together over 140 participants and raising more than $400,000 for gene therapy research. Set at Peller Estates Winery, this unforgettable event highlighted the power of community…
Since its launch last October, the low-rise, master-planned community—developed in partnership with Tribute Communities—has continued to attract interest from prospective buyers eager to experience the small-town charm of Lindsay. Now, with the grand opening of the showhomes, buyers have the…
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…
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…
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…
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…
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,…
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…
