Graywood Completes Acquisition of Retail Property in Burlington, Ontario

TORONTO, May 5, 2022 /CNW/ - Graywood Developments ("Graywood") announced that it has completed the acquisition of 2301-2391 Appleby Line, a retail plaza located at the intersection of Dundas Street and Appleby Line in Burlington. The property occupies a prime corner location in North Burlington's most dominant retail corridor and includes coveted destination retailers such as Michaels and PetSmart. 

Stephen Price, President and CEO of Graywood commented, "We are pleased to continue with the ongoing expansion of our commercial portfolio through the acquisition of this high-quality asset in the thriving Burlington area and are confident it will bring long-term value to our investors."  

Graywood will manage the asset through its subsidiary, Graywood Asset Management. The acquisition of 2301-2391 Appleby Line follows the acquisition of three previous investments made by a separate vehicle, Graywood Fund IX Limited Partnership ("Fund IX" or the "Fund"), with approximately 2,500 residential units and over $1.8 billion of development value. Fund IX had its final closing in November 2021 with commitments of CAD $148 million from Canadian financial institutions, pension plans, family offices and high net worth individuals.

For further information regarding this acquisition, contact Stephen Price, President and CEO, or Jason Shedletsky, Vice President, Investments.

About Graywood Developments
Graywood is a private real estate investment management company based in Toronto that specializes in the development of residential mixed-use projects of exceptional quality. Graywood's expertise includes identifying attractive development sites, deal 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 6,400 residential units under development, representing $4.8 billion in development value. During its 37-year history, Graywood has managed 54 projects, representing $8.8 billion in development value and 31,400 units.

Disclaimer
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.

SOURCE Graywood Development

Stephen Price, President & CEO, Graywood Developments LP, [phone]; Jason Shedletsky, Vice President, Investments, Graywood Developments LP, [phone], www.graywoodgroup.com