Holdings
What the firm owns, and what it looks for next.
GrayRock holds property across four asset classes in Toronto and the GTA. Specific holdings are discussed directly with counterparties rather than published.
A portfolio is a set of decisions, not a list of buildings.
Every asset GrayRock owns was bought for a reason that could be written down before the offer went in: what it earns, what it costs to run, what is wrong with it that work can fix, and what the street around it is likely to be in ten years.
The firm does not publish an asset-by-asset list. Owners and brokers who want to know whether their property fits will get a straight answer faster by writing to us than by reading a page.
Asset classes
Toronto and the Greater Toronto Area, Ontario, Canada
Four classes, and what has to be true in each.
Multi-residential
What we look for
- Purpose-built rental, mid-rise and high-rise
- Buildings with a rent roll that can be read and verified
- Deferred maintenance that is expensive rather than structural
- Transit within a reasonable walk
What we avoid
Assets whose return depends on emptying the building.
Industrial and logistics
What we look for
- Clear height, dock doors and a yard that a modern tenant can use
- Highway access measured in minutes, not kilometres
- Single or multi-tenant, with staggered lease expiries
- Sites where the land alone would justify the price over time
What we avoid
Functionally obsolete space that only works for one tenant.
Commercial and mixed-use
What we look for
- Established corridors with foot traffic that exists on a Tuesday
- Ground floor tenancies that serve the immediate neighbourhood
- Upper floors that can be residential or office without a rebuild
- Buildings with heritage fabric worth keeping
What we avoid
Single-tenant retail carrying the whole building.
Development land
What we look for
- A planning path the city has already signalled it supports
- Holding costs a patient owner can carry
- Assembly potential with neighbouring parcels
- Sites that can produce income while approvals run
What we avoid
Land priced as though the approval is already granted.
Transaction types
GrayRock has a broad mandate within its market and will look at most structures, including:
- Direct purchase from an owner, on or off market
- Ownership transitions, estates and partnership wind-ups
- Joint ventures with owners who want to stay in the asset
- Partial interests and buy-outs of an existing co-owner
- Recapitalisations where the property is sound and the capital stack is not
- Land assembly, including sites that are only useful together
Bringing us a property
If you are an owner, a broker, an advisor or a potential partner, write to the firm directly. Enquiries reach the people who make the decisions, and a property that does not fit will be told so quickly.
Contact the firm