Graywood Developments LP Launches Tenth Private Real Estate Development Fund

TORONTO, Feb. 1, 2023 /CNW/ - Graywood Developments LP ("Graywood") announced the launch of its tenth private real estate development fund, Graywood Fund X Limited Partnership ("Fund X"). Graywood aims to raise CAD $200 million from Canadian financial institutions, pension plans, family offices and high-net-worth individuals. The Fund will pursue investments in for-sale and rental development properties in Toronto, Canada with a targeted net return to investors of 15% Net IRR/ 2.0x Net MOIC. It is anticipated that a first closing will be held in mid-2023.

Stephen Price, President and CEO of Graywood commented, "We continue to see an urgent need for more housing in Toronto, which is only expected to increase as Canadian immigration targets grow over time. As a full-service developer operating in the Greater Toronto Area for almost 40 years, we are well positioned to continue to pursue the development of residential properties within Fund X."

The launch of Fund X follows the final closing of Graywood Fund IX Limited Partnership ("Fund IX") in November 2021 which raised total commitments of CAD $148 million. Fund IX has acquired four investments, representing approximately 2,900 residential units and over $2.2 billion of development value.

For further information regarding Fund X, contact Stephen Price or Aleks Karamarkovic, Vice President, Corporate Development.

More about Graywood

Graywood is a private real estate development 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 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 $4.9 billion in development value. During its 38-year history, Graywood has managed 54 projects, representing $8.9 billion in development value and 31,500 units.

www.graywoodgroup.com

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. Target returns are hypothetical in nature and are shown for illustrative, informational purposes only. Target returns should not be relied upon in making investment decisions, are not indicative of future results, and are not guarantees. There can be no assurance that any targeted investment returns will be met. 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]; Aleks Karamarkovic, Vice President, Corporate Development, Graywood Developments LP, [phone]