The partnership will develop high-quality residential projects within the Greater Toronto Area, drawing on Graywood's extensive experience in the Canadian residential development space and Hankyu Hanshin Properties' global expertise. To mark their first collaboration, Hankyu Hanshin Properties will joint venture with Graywood on the development of Claystone, a premier residential project located in Oakville, Ontario.
"We are thrilled to partner with a top-tier real estate firm like Hankyu Hanshin Properties," said Stephen Price, President & CEO of Graywood. "This collaboration represents a significant milestone for both companies, and we are confident that our combined expertise will deliver an exceptional living experience for future residents of Claystone. We look forward to completing more joint venture projects with our new partner."
Graywood Developments will serve as the lead developer, constructor, and sales manager for Claystone, working in close partnership with Hankyu Hanshin Properties. The project aims to bring an elevated boutique condo building to South Oakville, combining sophisticated design with high-quality construction in one of Ontario's most coveted communities.
Masahiko Toda, Director, Overseas Business Headquarters of Hankyu Hanshin Properties added, "We are excited to embark on this journey with Graywood. Claystone is a testament to our shared vision of creating outstanding residential communities. We look forward to the success of this venture and to exploring more opportunities together in the future."
Claystone is located in the heart of Bronte Village in South Oakville. The 7-story project is set to commence sales in 2025 and deliver units in 2028.
Colliers Canada and Colliers Japan acted as advisor for the transaction. Johann Rodrigues, Senior Vice President, Capital Markets at Colliers commented "Colliers Capital Markets Canada, alongside Colliers Japan and Hazumu Iwase's team, are pleased to have worked with Graywood and HHP to facilitate one of the first Canadian residential joint ventures with a Japanese developer. Raising capital is part of our core business at Colliers Capital Markets Canada, and foreign capital's interest in Canadian real estate is at an all-time high. We expect HHP's successful entry into Canada with Graywood will lead to new sources of Japanese and other international capital looking at Canada in 2025 and beyond."
About Graywood
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, marketing, construction management and project financing. Graywood is also actively developing purpose-built rental projects across the Greater Toronto Area, and currently asset manages a portfolio of income properties valued at $1.6B. Graywood currently has 16 active projects with 7,300 residential units under development, representing $5.8 billion in development value. During its 39-year history, Graywood has managed 55 projects, representing $9.7 billion in development value and 32,400 units.
About Hankyu
With over 100 years of history, the Hankyu Hanshin Holdings Group has contributed to the development of towns and communities along their railway lines by offering rich lifestyles to their customers. Hanyku's operations are centered on the Hankyu and Hanshin railway lines and the Umeda area in Osaka, where they manage commercial facilities and development projects.
Hanyku Hanshin Properties provides high-quality residential properties under their condominium brand "Geo". Beyond Japan, Hankyu Hansin Properties is expanding their business to overseas locations by utilizing their expertise and achievements from their operations in Japan. Since starting the overseas business in 2015, Hankyu have developed over 67,000 residential units, including those currently under development.
Contact:
Graywood
Aleks Karamarkovic, Vice President, Corporate Development
+1-416-599-2466, [email protected]
Hankyu Hanshin Properties
Chikara Nakajima, Deputy Head of Acquisition Team, Overseas Housing Division
+63-917-179-0206, [email protected]
Media Contact:
Vakis Boutsalis, Vice President, Partner, kg&a, [email protected], 416-578-1741
SOURCE Graywood Developments
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