Greybrook Realty Partners Inc. announced today the successful closing of an equity investment by its managed issuer of $27,600,000 to acquire and oversee the development of a prime parcel of land located in Toronto, Ontario. Together with its developer partner, Tribute Communities, the firm intends to develop the property into a mid-rise residential condominium.
The two-acre development site is located east of Bayview Avenue at 680-688 Sheppard Avenue East in Toronto’s established North York community. Directly on the TTC’s Sheppard Avenue Subway line, the property is walking distance from both the Bessarion station and Bayview station. The site also has easy access to the Oriole GO station and the 400 series highways.
The Sheppard Avenue East corridor has transformed in recent years, experiencing strong urban growth, particularly in areas near rapid transit infrastructure. Both public and private investments are being made in the immediate area around the site that will enhance the urban living experience of future residents. Investments include the redevelopment and expansion of Bayview Village, one of Canada’s most prestigious shopping centres. Plans are underway to transform the shopping centre, as well as to add a number of high-rise and mid-rise for-sale and purpose-built residential towers to the surrounding property. Other area investments include a proposed 209,000 square foot Bessarion Community Centre, set to be one of the largest community centres in the Toronto area. Expected to be completed by 2021, this expansive centre will include recreation space, an aquatic centre, a child-care centre, and a 13,000 square foot public library.
“We are thrilled to add this transit-oriented development site to our GTA portfolio in an area of the city that is seeing a considerable amount of activity,” states Alex Riajskikh, Executive Director, Private Capital Markets, Greybrook Realty Partners. “From an investment perspective, this project offers our investors an opportunity to invest in an exciting Toronto-based development and to diversify their real estate investment portfolios.”
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…
Members of our Greybrook team recently rolled up their sleeves at The Common Table, a Toronto-based drop-in program that provides meals, essential services, and a welcoming space for people experiencing homelessness, social isolation, mental health challenges, and food insecurity. Before…
In a recent appearance on The Your Life Your Terms Show, Greybrook Securities CEO, Sasha Cucuz shared his perspective on today’s market, discussing everything from housing affordability and development economics to portfolio diversification and the opportunities emerging in U.S. multifamily…
Alex Nisenker, Vice President of the Private Capital Markets Group at Greybrook, recently appeared on The Well Off Podcast, one of Canada’s go-to shows for real estate investors looking to build and scale their portfolios. Hosted by Ontario investor and…
Governments have introduced a meaningful package of housing incentives — but the real question is whether they are enough to unlock pent-up demand and development, or if the market resets at a new equilibrium. Recent measures, including Ontario’s HST holiday,…
We’re pleased to share the strong market response to Château 9, one of our latest active townhome communities in partnership with Treasure Hill. This past weekend’s launch event brought together prospective homeowners and the broker community for a firsthand look at the…
