GreyBrook logotype
Investor Login Contact Us

Greybrook Realty Partners Invests $40,165,000 CAD in a Mixed-Use Luxury Rental Development Project with PMG in Fort Lauderdale, Florida

Date:
January 19, 2017
Share:

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.

Read the press release on Globe Newswire.

Latest Insights

Greybrook Realty Partners Invests $31,525,000 in a Residential Development Project in Markham, Ontario

Company News
August 21, 2025

Greybrook Realty Partners Inc. announced today the successful closing of an equity investment by its managed issuer of $31,525,000. This investment will support the acquisition and management of a development spanning approximately 45 projected net developable acres, located at 10378…

Progress Update: Yonge and Eglinton

Yonge and Eglinton
August 13, 2025

Since announcing our investment in the Yonge and Eglinton project earlier this year, our team – together with long-standing partner Stafford Homes – has been moving purposefully through the early stages of development. Located at 29–45 Berwick Avenue, just west…

Construction Advances at 138 Yorkville

Portfolio Updates
August 4, 2025

Following a landmark crane installation last year, construction at 138 Yorkville, our ultra-luxury high-rise development located in Toronto’s Yorkville neighbourhood, is progressing well. In recent months, the construction team has made steady progress on the underground levels, completing the major…

Sales Officially Launched at Brooklin Vue – A New Low-Rise Community in North Whitby

Portfolio Updates
July 21, 2025

Sales have officially launched for Brooklin Vue, our low-rise development in partnership with Treasure Hill. This new residential community is located in the historic village of Brooklin, Ontario, and offers an exclusive collection of two- and three-storey modern townhomes along…

138 Yorkville Featured in Elite Traveler’s Leaders in Luxury: Summer 2025

Portfolio Updates
July 7, 2025

We’re proud to announce that Elite Traveler magazine has featured 138 Yorkville in its Leaders in Luxury: Summer 2025 edition. Known for showcasing the pinnacle of global luxury, the magazine has recognized 138 Yorkville as one of the world’s most…

Occupancy Begins at House of Assembly: A New Chapter for Sterling Junction

Portfolio Updates
June 25, 2025

We’re pleased to share that occupancy is now underway at House of Assembly in Toronto’s west end. Developed in partnership with Marlin Spring, HOA is the first of three residential buildings to be delivered as part of the larger Sterling…

Greybrook Realty Partners Invests $22,470,000 in a Residential Development Project in Brantford, Ontario

Company News
June 19, 2025

Greybrook Realty Partners Inc. announced today the successful closing of an equity investment by its managed issuer of $22,470,000. This investment will support the acquisition and management of a development spanning 150 projected net developable acres, located south of Tutela…

138 Yorkville Presentation Gallery Transforms into the Apex Lounge for Yorkville’s Annual Exotic Car Show

Portfolio Updates
June 18, 2025

As automotive enthusiasts gathered in the heart of Yorkville to celebrate the neighbourhood’s 15th annual Yorkville Exotic Car Show, the 138 Yorkville presentation gallery transformed into the Apex Lounge—an exclusive experience designed to introduce 138 Yorkville to broader networks of…

Boardroom Brief: EP. 08 – Investing With Geographic Perspective

Insights
June 16, 2025

What happens when strong long-term fundamentals are met with short-term economic headwinds? In the latest episode of Boardroom Brief, we explore how Greybrook is navigating the delicate balance between opportunity and caution in today’s dynamic real estate landscape. Greybrook Securities…

John Huffman speaking at the PCMA Annual Conference 2025

Beyond Headwinds: Unpacking Canadian Real Estate Opportunities at PCMA 2025

Community
June 16, 2025

The recently hosted PCMA 2025 Annual Conference – Canada’s premier event for private investment leaders – served as a critical forum for dissecting 2025’s complex real estate landscape. As a conference sponsor and featured panelist, our firm was proud to have…

All Publications

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

Contact us