Greybrook Realty Partners Inc. is pleased to announce the successful deployment by its managed issuer of $14,275,000 in equity to acquire and subsequently manage the development of a parcel of land located in Markham, Ontario. The property is co-owned with Marlin Spring and will be developed into a residential townhome community.
Markham has experienced strong residential development in recent years and has become one of the fastest growing municipalities in Ontario. Attracting an educated and diverse workforce, Markham’s well defined transportation network and rich community amenities have made it a major employment hub. Situated within an established residential neighbourhood, the development site is close to key amenities and enjoys excellent access to major highways and transit options. Centrally located, the site is also near several major projects, recently completed or announced, including the Markham Pan Am Centre, Markham Downtown, and the proposed future York University Markham Centre campus.
“With a robust employment base and attractive quality of life, the strong demand for housing in Markham is a key reason why this is our third development in Markham,” said Greybrook Realty Partners’ Director, Alex Riajskikh. “As Markham continues to be built out and there remains a scarcity of developable residential lands available, Greybrook remains focused on seeking out the right opportunities in this attractive sub-market.”
“We are delighted to enter into our inaugural partnership with Marlin Spring,” said Peter Politis, CEO of Greybrook Realty Partners. “Their management team’s extensive industry experience with a leading Canadian real estate developer will be a valuable asset to the success of our development. We look forward to building a fruitful partnership with many future opportunities to come.”
Greybrook Realty continues to expand the portfolio of low-rise development holdings that it manages, which includes over 700 acres of land in Southern Ontario. The development of these properties is projected to result in the completion of nearly 4,000 single-family homes in the Greater Golden Horseshoe region.