TORONTO — Greybrook Realty Partners Inc. has announced closing of financing that will enable construction of a new community of freehold townhomes in Richmond Hill, Ont.
The deal is worth $48.3 million for purchasing and development of 420 townhomes, notes a media statement issued late last month.
"Richmond Hill has seen the price of townhomes double over the past five years, exceeding the average price increase of townhomes in the Greater Toronto Area over the same time period, highlighting the strong demand for this product type in the region," states Sasha Cucuz, CEO, Greybrook Securities Inc. in a statement.
Several development properties by Greybrook are projected to result in the completion of over 8,000 ground-related homes in the Greater Golden Horseshoe region, notes the statement.
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