Greybrook Realty Partners Inc. says it has closed an equity investment by its managed issuer of $10,985,000 to acquire and oversee a land development project in Brooklin, north of Whitby’s town centre.
With Fieldgate Homes, the firm will develop 18 acres of land into a residential community with more than 170 single-detached homes, freehold townhomes and condominium townhomes.
“We are delighted to announce our fourth venture with Fieldgate Homes, an exceptional partner with an established track-record of success,” Greybrook CEO Peter Politis said in a statement. “This development represents another high-quality addition to our portfolio and our second venture with Fieldgate in Whitby. The project will provide much-needed housing supply to a region that is demonstrating strong demand-side characteristics and rapid economic development and that continues to make important infrastructure investments.”
The portfolio of low-rise development holdings managed by Greybrook Realty Partners includes several development properties that are projected to result in the completion of more than 9,000 ground-related homes in the Greater Golden Horseshoe region.
