GreyBrook logotype
Investor Login Contact Us

Greybrook Realty Partners Invests US$32,075,000 in a Multi-Family Residential Development Project With PMG in Miami, Florida

Date:
August 20, 2019
Share:

Greybrook Realty Partners Inc. announced today the successful closing of an equity investment by its managed issuer of US$32,075,000 to acquire and oversee the development of a prime parcel of land in Miami, Florida. Together with its developer partner, PMG, the firm intends to develop the land into a mixed-use multi-family residential building consisting of over 220 rental units and more than 35,000 square feet of retail.

The site is located along NW 2nd Avenue and NW 25th Street, in the heart of Miami’s trendy Wynwood neighbourhood. A former industrial warehouse district situated north of Downtown Miami and near the Central Business District and Miami Beach, Wynwood has undergone significant transformation in recent years. Home to one of the largest international open-air street art installations, Wynwood has established itself as a premiere destination for arts, culture and innovation through its thriving art scene, dynamic retail and dining options, and growing hub of start-up and creative businesses.

The Wynwood project is the latest addition to Greybrook’s growing portfolio of social living and co-living multi-family rental developments in the U.S. with PMG as developer partner. Once completed, the project is expected to add to the neighbourhood a thoughtfully designed eight-storey residence featuring rental units ranging from unfurnished private residences to furnished “rent-by-bedroom” co-living suites. The project is also expected to feature an extensive amenity package, including a rooftop restaurant and outdoor space, and street level retail. As part of Greybrook and PMG’s social living platform, a key component of the resident experience will be the ongoing event programming and seamless technology that enables residents to manage all aspects of life at home.

“We believe the development’s social living and co-living offering is a solution to the housing affordability challenges faced by a growing demographic of renters across many large U.S. urban centres like Miami,” said Peter Politis, CEO of Greybrook Realty Partners. “Faced with rising housing costs, flat wage growth and changing lifestyle preferences, our turnkey rental options coupled with premium lifestyle amenities and curated programming deliver an attractive value proposition to residents and a strong investment opportunity for our investors.”

“We have a longstanding partnership with Greybrook Realty Partners, and are looking forward to bringing our first Wynwood project to market together,” said Ryan Shear, Managing Partner of PMG. “Wynwood is one of the most walkable and vibrant areas in Miami, and is primed for new development. It is the perfect location for our latest project as we expand throughout South Florida and beyond.”

The development will be Greybrook’s third investment in PMG’s social living platform and follows the Las Olas development in Fort Lauderdale and the 400 Biscayne development in Downtown Miami, both currently under construction.

Read the full review on the Globe Newswire site.

 

Latest Insights

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…

138 Yorkville Celebrates the Art of Timeless Design: A Man & His Watch, F.P. Journe

Portfolio Updates
June 12, 2025

Our ultra-luxury residence 138 Yorkville, developed in partnership with Cityzen and First Capital, continues its series of curated experiences as part of a broader marketing strategy, recently welcoming a select group of discerning collectors and tastemakers for an exclusive immersion…

From Boardroom to Ballpark: Greybrook Celebrates Summer Social 2025

Culture
June 9, 2025

This year’s Summer Social was a home run! Held in the TD Executive Lounge at Rogers Centre, the Greybrook team came together to enjoy an afternoon of baseball, camaraderie, and celebration as we cheered on the Toronto Blue Jays. Highlights…

All Publications

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

Contact us