TORONTO, Dec. 12, 2023 /CNW/ - Graywood Developments LP ("Graywood") announced that it completed the first closing of its 10th private real estate development fund, Graywood Fund X Limited Partnership ("Fund X" or the "Fund").
President & CEO Stephen Price commented, "Our platform has never been stronger, and we are well-positioned to pursue the development of residential properties in the GTA through Fund X. Despite temporary challenges in the market, we remain very optimistic in our ability to generate strong risk weighted returns as the need for new housing continues to far exceed supply. We are pleased with the support we have received from our existing and new investors."
Proceeds from the closing of Fund X will be deployed in high-quality residential development projects in the Greater Golden Horseshoe region, with a focus on Toronto, Canada.
Graywood may plan subsequent closings of Fund X in 2024. For further information regarding Fund X, contact Aleks Karamarkovic, Vice President, Corporate Development.
This document is for information purposes only and does not constitute an offer or solicitation for any security, product, service or fund. The information in this document should not be considered legal, tax, investment, financial or any other professional advice. This document contains only summary information as of the date hereof and no representation or warranty, express or implied, is or will be made in relation to the accuracy or completeness of the information contained herein, by Graywood or any of its affiliates or funds. Should any of the descriptions or terms herein be inconsistent with any applicable governing documents, such other documents shall prevail.
Graywood is a private investment management company based in Toronto that specializes in the development of residential mixed-use real estate projects of exceptional quality. Graywood's expertise includes identifying attractive development sites, deal underwriting and structuring, all aspects of development management including land use approvals, project design, sales and marketing, construction management and project financing.
Graywood currently has 15 active projects with 6,500 residential units under development, representing $5.2 billion in development value. During its 38-year history, Graywood has managed 54 projects, representing $9.2 billion in development value and 31,600 units.
SOURCE Graywood Development
Stephen Price, President & CEO, Graywood Developments LP, (416) 599-1930; Aleks Karamarkovic, Vice President, Corporate Development, Graywood Developments LP, (416) 599-2466
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