New residential development will bring over 2,600 homes to the community of Lindsay, Ontario
TORONTO, Sept. 21, 2021 (GLOBE NEWSWIRE) -- Greybrook Realty Partners Inc. announced today the successful closing of an equity investment by its managed issuer of $43,525,000 to acquire and oversee the development of a prime parcel of land located east of Highway 35, south of Thunder Bridge Road, and north of Colborne Street West, in Lindsay, Ontario. Together with its developer partner, Tribute Communities, the firm intends to develop the land into a residential community consisting of over 2,600 townhomes, semi-detached and single-detached homes.
Located within the City of Kawartha Lakes north of Durham Region, the development site is inside the existing settlement area boundary in the well-connected community of Lindsay. The project lands abut against an existing residential community to the east and a new commercial and residential site currently under construction to the south, which is expected to bring big box retail to the immediate area. The site’s proximity to Highway 35 and Highway 7 provides convenient access to communities within and beyond the region, including neighbouring Peterborough, Durham Region as well as, communities in the northeastern parts of the Greater Toronto Area (‘GTA’) such as Markham and Richmond Hill via Highway 407. With a population of approximately 27,000, Lindsay is the largest community and economic hub in the Kawartha Lakes region. The community offers residents and visitors a variety of experiences including theatre, festivals, dining, museums, and galleries, and is home to the Lindsay Golf and Country Club and the Ken Reid Conservation Area.
“This investment is in line with our focus on acquiring prime land for residential development in the growing Greater Golden Horseshoe Region in Southern Ontario,” said Sasha Cucuz, CEO, Greybrook Securities Inc. “We are thrilled to be working once again with our long-standing developer partner, Tribute Communities, on the development of this master-planned community. This will be our thirteenth residential development together and we look forward to not only offering our investors a great investment opportunity, but also bringing much needed housing to this growing region that will spur economic activity and growth beyond the GTA.”
About Greybrook Realty Partners Inc.
Greybrook Realty Partners is a leading Toronto-based real estate private equity firm focused on investments in residential 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 $1.4 billion of equity in more than 85 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 44 million square feet of residential and commercial density, with an estimated completion value of $20 billion.
This news release contains forward-looking statements that are based on management’s current expectations and are subject to known and unknown uncertainties, which could cause actual results to differ from those contemplated or implied by such forward-looking statements. Greybrook is under no obligation to update or revise any forward-looking statements contained herein, whether as a result of new information, future events, or otherwise.
For further information:
Greybrook Realty Partners Inc.
Sarah Mansour, Executive Director, Strategy & Corporate Development
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