Greybrook Realty Partners Invests $43,460,000 In A High-Rise Residential Development Project With Tribute Communities In Toronto, Ontario
TORONTO, March 19, 2020 (GLOBE NEWSWIRE) — Greybrook Realty Partners Inc. announced today the successful closing of an equity investment by its managed issuer of $43,460,000 to acquire and oversee the development of a prime parcel of land located at 1325-1361 The Queensway in the City of Toronto. Together with its developer partner, Tribute Communities, the firm intends to develop the property into a two-tower, high-rise mixed-use condominium building consisting of over 1,100 units and more than 10,000 square feet of commercial space at grade.
The development site is located at the southwest corner of Kipling Avenue and The Queensway in Toronto’s South Etobicoke community. A short drive to CF Sherway Gardens and other commercial amenities, the 2.17-acre site features convenient and direct access to Highway 427 and the Gardiner Expressway. The area is well-connected to public transit, minutes from Mimico GO Station and Kipling GO and TTC Station, with area connectivity expected to be enhanced by the future Kipling Transit Hub, an integrated community mobility hub that will connect Toronto’s west end to the broader regional transit network.
“With its proximity to the downtown core and its transportation and transit connectivity, the Queensway corridor is emerging as a comprehensive and vibrant residential node,” stated Alex Riajskikh, Executive Director, Private Capital Markets, Greybrook Realty Partners. “This is Greybrook’s second planned development site along The Queensway, and we are looking forward to building out the neighbourhood and providing much needed housing in this great location.”
About Greybrook Realty Partners Inc.
Greybrook Realty Partners is a Toronto-based private equity firm that invests in real estate development and value-add assets. The firm offers investors the unique opportunity to partner with leading North American real estate developers and share in value creation activities. Greybrook Realty Partners, through its affiliates, has invested over $1 billion of equity in more than 70 real estate projects across Canada and the United States. In aggregate, its real estate investment portfolio is expected to result in the development of over 35 million square feet of residential and commercial density, with an estimated completion value of $15 billion.
For further information:
Greybrook Realty Partners Inc.
Sarah Mansour, Executive Director, Strategy & Corporate Development
E: [email protected]
T: 416.322.9700 x551