TORONTO, Sept. 23, 2021 /CNW/ - LibertyHill Realty Partners Inc. announced today the successful closing of its first Limited Partnership equity investment of $10,701,000 to acquire and oversee the development of a prime parcel of land located in Vaughan, Ontario. Together with its developer partner, Caliber Homes Inc., the firm intends to develop the land into a low-rise residential community consisting of 70 modern freehold townhomes.
LibertyHill Realty Partners Closes on $10,701,000 for a Residential Development Project with Caliber Homes in Vaughan, Ontario
The 4.13-acre development site is located in the southwest quadrant of Highway 27 and Rutherford Road in Vaughan, Ontario, between the desirable communities of Kleinburg and Woodbridge, in the City of Vaughan, the fifth largest city in the Greater Toronto Area and the 17th largest city in all of Canada. The Vaughan region is home to the state-of-the-art Cortellucci Vaughan Hospital, a diverse and respected manufacturing sector and has attracted major multinational firms, including Adidas, KPMG and UPS. Major tourism operators in the area include Canada's Wonderland, Vaughan Mills, the McMichael Canadian Art Collection, the Kortright Centre for Conservation and LEGOLAND Discovery Centre. The region is benefitting from the Toronto Transit Commissions subway extension and expanded GO Transit services. For additional information related to this exciting development, please visit www.rutherfordheights.ca.
"The West Vaughan district, is highly sought after due to its proximity to Pearson International Airport, the major 400 series highways, including the recent Highway 427 extension, and countless businesses, schools, hospitals and mature communities," said Donato Sferra, CEO of LibertyHill Realty Partners. "Vaughan continues to attract investments throughout many sectors that will see growth in population, talent and businesses. We anticipate that the demand for housing in the region will continue to increase. We are thrilled to be investing in this flourishing region and are excited to be working with our partner, Caliber Homes, to develop this community."
"Caliber Homes has a strong history of successful developments in the City of Vaughan, and we are pleased to add this exceptional piece of real estate to our portfolio, together with our new
real estate partners, LibertyHill," said Danny DiMeo, CEO of Caliber Homes. "I am pleased and excited to launch and bring to the market "Rutherford Heights" as collaborated effort between Caliber Homes and LibertyHill. Rutherford Heights will be a collection of beautiful, modern freehold townhomes, in the heart of Vaughan."
About LibertyHill Realty Partners Inc.
LibertyHill Realty Partners is a Toronto-based management firm that partners with developers and investors to provide equity into real estate projects. Utilizing a distinct investment structure, the firm offers investors the opportunity to partner with best-in-class real estate developers and share in the value creation attained in each development. The principals of LibertyHill Realty Partners have over 50 years of combined finance and investment experience and are thorough and disciplined in their approach to real estate investment.
This news release contains forward-looking statements that are based on management's current expectations and are subject to known and unknown uncertainties, which could cause actual results to differ from those contemplated or implied by such forward-looking statements. LibertyHill is under no obligation to update or revise any forward-looking statements contained herein, whether as a result of new information, future events, or otherwise.
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SOURCE LibertyHill Realty Partners
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