PMG’s Partner In 88-Story 300 Biscayne Has Seen Fast Growth

The Canadian developer that is a partner in the 1,049-foot 300 Biscayne Tower has been growing rapidly, according to The Globe and Mail.

Greybrook Capital Inc. of Toronto now employs 40 people, up from a dozen last October.

The company has 25 active development projects, and has worked on 55 or 60. They consider about 150 projects per year and proceed with about 15. Their first big project in Toronto earned a 240 percent return for investors in 2007, with a completion value of $390 million.

Greybrook invested $37.37m for equity in 300 Biscayne last year, according to their website. The investment came after analyzing the project for almost a year.

300 Biscayne will presell 500 condo units, the report says. When completed, the 88-story tower is projected to be valued at $970 million.