The Greybrook U.S. Multifamily Income & Growth Fund is an open-ended private real estate fund focused on generating stable monthly income and long-term capital appreciation for investors through investment in stabilized U.S. multifamily assets. The Fund targets total annualized returns of 10%-12%, including 5.0%-5.5% in annual cash distributions paid monthly, by selectively acquiring and actively managing properties to grow Net Operating Income (NOI) and enhance portfolio asset value.
The Fund is intended for accredited investors seeking stable income, durable capital appreciation, and diversified exposure to U.S. multifamily assets across multiple markets, with the benefit of tax-efficient distributions.¹
Stable rental income targeting consistent monthly distributions of 5.0% – 5.5%.
Target total annualized returns of 10% – 12%, through a combination of income and capital growth.
Targeting capital growth by driving NOI through strategic renovations, expense optimization, and active asset management.
Annual lease rollovers allow rents to reprice with inflation while rising homeownership barriers are expected to sustain demand for rental housing.
Available to accredited investors only. Target returns are not guaranteed.
Targeting exposure to growing and stable Sun Belt and select Midwest markets with favourable demographic and employment trends.
Distributions are expected to be primarily return of capital, enhancing after-tax cash flow for investors.
Receive a 2% discount on reinvested distributions through the DRIP (dividend reinvestment plan).
RRSP, RRIF, RESP, LIRA and TFSA-eligible structure, providing tax-advantaged access for Canadian investors.
Available to accredited investors only. Target returns are not guaranteed.
Capitalization rate (“cap rate”) decompression has reset U.S. multifamily asset values, creating a compelling opportunity to acquire multifamily assets at attractive entry points.
With market activity accelerating in the U.S. and a large wave of loan maturities expected in the coming years, the pool of prospective multifamily acquisition opportunities is expected to increase, providing a large base of investment opportunities.
As a non-discretionary asset class, multifamily benefits from stable underlying demand, historically resilient occupancy and cash flow, and the ability to reprice rents annually—supporting faster recoveries and reduced downside volatility relative to many other property types.
We believe that acquiring well-located, attractively priced, older-vintage (1990s+) multifamily assets—priced below replacement cost—in growing markets can generate stable income and long-term growth through a combination of disciplined market selection, and execution of operational improvements and strategic capital investments.
The Fund targets well-located, attractively priced older-vintage (1990s+) Class B multifamily properties below replacement cost in select U.S. Sun Belt and Midwest growth markets. We focus on acquiring stabilized assets with operational upside, where disciplined underwriting, active asset management and strategic capital investments can drive meaningful NOI growth and capital appreciation.
The Fund targets Class B, 1990s+ garden-style and low-rise multifamily assets acquired below replacement cost with stabilized or near-stabilized occupancy. We focus on properties with in-place rents below market, identifiable operating inefficiencies, limited deferred maintenance, and existing life-safety infrastructure, positioning the portfolio for durable cash flow and operational improvement.
We focus on lower cost-of-living markets and submarkets across growing U.S. Sun Belt and Midwest cities characterized by positive population and job creation growth, and diversified employment bases. We prioritize markets with favourable rental fundamentals and non-rent-controlled regulatory environments that support sustainable income growth and operational flexibility.
During underwriting we identify upside potential and define a clear path to long-term NOI growth, including targeted upgrades where returns justify capital deployment. Post-acquisition, we actively manage revenue, expenses, operational efficiencies, and capital expenditures to support stable income and consistent investor distributions. Financing is structured with conservative leverage and capital structures designed to provide downside protection.
Predominant use of fixed-rate government-backed agency debt reduces exposure to interest rate volatility and refinancing shocks during the hold period.
Conservative loan-to-value (“LTV”) ratios (60%-65%) reduce forced-sale risk and provide equity cushion against valuation volatility.
An open-ended fund structure reduces the possibility of forced liquidity events and allows for greater capital flexibility, particularly during periods of market dislocation.
Acquiring assets at stabilized yields creates an immediate cash flow buffer at the property level.
Acquiring stabilized assets below their current replacement cost creates a structural barrier to new competitive supply.
Experienced Real Estate Investment Platform & Multifamily Manager
Over 20 years of experience investing in, actively managing, and operating residential real estate and developments at scale with investments across Canada and the U.S.
Deep experience and specialized expertise across residential development and multifamily assets, including more than a decade investing in U.S. residential and multifamily properties.
115+ large-scale real estate investments across Canada and the U.S., representing 80MM+ square feet of density and C$45B+ of estimated completion value.*
Our multifamily experience spans ground-up development, lease-up, and stabilization of new purpose-built assets, as well as acquisition, operation, and value creation execution in Canada and the U.S, with 4,600+ units across 26 properties currently under management.
Acquisitions & Dispositions, Asset Management, Construction Management & Repositioning, Property Management, and Finance & Accounting, among others.
*Represents the realized gross sell out value of completed projects, the forecasted gross sellout value of active projects + the realized or forecasted exit value of operating assets. Assets held outside of the Fund. Greybrook’s past performance is not indicative of the future results of the fund.
Multifamily Assets Under Management*
Units Under Management in the U.S. & Canada
Multifamily Properties
* Represents the estimated fair market value of active projects in CAD based on USD/CAD FX as of December 31, 2025. Assets held outside of the Fund. Greybrook’s past performance is not indicative of the future results of the fund.
IMPORTANT NOTES: ¹ This website is provided for informational purposes only and does not constitute an offer to sell or a solicitation to purchase securities. Any investment decision must be based solely on the Offering Memorandum of the Fund. An investment in the Fund described on this website involves risks, including the potential loss of the entire investment. The Fund has no operating history. There is no guarantee of performance or distributions. There is currently no secondary market through which the securities may be sold nor is it expected that one will develop. Investors should carefully review the “Risk Factors” section of the Offering Memorandum. The website contains forward-looking statements that are based on current expectations and assumptions and are subject to risks and uncertainties. Actual results may differ materially. Forward-looking information is provided as of February 18, 2026, and the Fund assumes no obligation to update such statements. Greybrook Securities Inc. is an exempt market dealer registered in each of the provinces of Canada. The Fund is a “related” issuer of Greybrook Securities Inc. See the section of the Offering Memorandum entitled “Conflicts of Interest” for further information regarding these relationships. For more information, including a copy of the offering memorandum of the Fund, contact your Greybrook dealing representative.
