Jeremy Haber

TORONTO, Dec. 14, 2020 (GLOBE NEWSWIRE) — Greybrook Realty Partners and Marlin Spring are pleased to announce the new branding of their jointly owned investment and asset management firm, Greyspring Apartments. With a portfolio of more than 2,000 units and CAD$375 million in assets under management, Greyspring Apartments is focused on the acquisition and repositioning of multi-family assets throughout Canada.

The new name and branding is an important step in Greyspring’s evolution as an independent operating business. Formed in 2018 by long standing-partners Marlin Spring and Greybrook Realty Partners, Greyspring Apartments was established with the goal of building a leading asset management firm with a robust portfolio of residential rental real estate assets in primary and secondary markets across Canada.

Greyspring’s talented team of real estate, asset management and finance professionals is overseen and guided by the Management Board, whose members include Benjamin Bakst, CEO, Marlin Spring; Elliot Kazarnovksy, CFO, Marlin Spring; Sasha Cucuz, CEO, Greybrook Securities Inc.; Peter Politis, CEO, Greybrook Realty Partners; Chris Salapoutis, President & COO, Greybrook Realty Partners; Ashi Mathur, President, Marlin Spring; and Karl Brady. In addition to his role on the Management Board, Karl Brady leads Greyspring Apartments as its President.

“We are pleased to announce the official name and branding of a business we formed with our partners at Marlin Spring a few years ago,” said Peter Politis, CEO, Greybrook Realty Partners. “Greyspring has been diligently focused on the execution of strategic value-add programs across its portfolio that are improving the quality of housing for tenants and overall asset values. For Greybrook investors, expanding from our core business in real estate development to the value-add space through Greyspring, has allowed us to provide our clients with investment opportunities that diversify their real estate investment portfolios.”

“Marlin Spring and Greybrook have partnered on many residential real estate projects in recent years,” said Benjamin Bakst, CEO and Cofounder, Marlin Spring. “To a great extent, Greyspring illustrates our approach to partnerships. We believe in, and strive for, responsible growth through deepening our relationships with our trusted partners. With Greyspring, we’ve formalized our focus on providing better and more affordable living experiences for Canadians. This vision aligns with our mission to deliver exceptional real estate value to all our stakeholders with an uncompromising adherence to our core values.”

Read the full release on the Global Newswire site.

TORONTO, Dec. 15, 2020 (GLOBE NEWSWIRE) — Greyspring Apartments announced today the acquisition of a 13-storey, 105-unit rental apartment building located at 1951 Maisonneuve Boulevard East in Montreal, Québec. Greyspring Apartments will oversee the execution of a comprehensive value-add program, which will include common area and suite improvements, the creation of a rooftop amenity space, and building efficiency enhancements.

Located in Ville-Marie, just east of Montreal’s downtown core, the property features unobstructed views of the downtown and benefits from an exceptional transit-oriented location. The building is conveniently located across from the Papineau metro station and adjacent to the Jacques-Cartier Bridge, providing residents with easy access to the Société de transport de Montréal transit. The area is highly walkable, a short distance from the St. Lawrence River, Parc des Faubourgs, Parc des Royaux and La Fontaine Park, and is poised for significant growth with a number of transformative mixed-use developments planned nearby.

The property has a mix of studios, one-bedroom and two-bedroom units with two ground floor commercial units and four levels of underground parking. The asset will form part of Greyspring’s growing apartment portfolio and expand Greyspring’s Canadian portfolio to over 1,600 units across Quebec and Ontario.

“We are very pleased to have closed on this acquisition in Montreal – a core market for Greyspring that strengthens our presence in the city,” said Karl Brady, President, Greyspring Apartments. “This property presents another great opportunity for us to execute our value-add program, improve the overall quality of the asset, and create additional economies of scale across our portfolio in Montreal.”

Read the full release on the Global Newswire site.