Cranson Capital Securities Raises $6.5M for Brightstone Developments' New Townhouse Project Near Downtown Oakville

TORONTO, August 29, 2024 — Cranson Capital Securities Inc. is pleased to announce the successful completion of a $6.5 million capital raise for the Oakville Garden Towns Limited Partnership (the "LP"). This funding will support the development of a new townhouse community in partnership with Brightstone Developments at 109 Garden Drive, near downtown Oakville.

The LP has secured a prime 1.23-acre site located in the vibrant Kerr Village neighborhood. This development will feature 42 freehold townhomes, including 36 back-to-back townhomes and 6 row townhomes, with sizes ranging from approximately 1,700 to 3,000 square feet. The townhomes are projected to be priced around $1.6 million and sales are anticipated to commence in 2026.

The site’s unique urban character within the suburban Toronto area of Oakville is complemented by its high walk score of 88. Residents will benefit from proximity to downtown Oakville, the Oakville waterfront, schools, parks, trails, retail shops, and restaurants. Additionally, the Oakville GO train station is about 2km away, providing convenient access to downtown Toronto.

Devon Cranson, President of Cranson Capital, expressed enthusiasm about the project: “We’re thrilled to partner with Brightstone Developments to bring additional housing options to this exceptional area, where new home construction is increasingly rare. Kerr Village’s blend of suburban living in an urban environment, along with its excellent walkability and proximity to downtown Oakville and Lake Ontario, makes this project particularly exciting.”

Yoav Bohbot, Vice President and Director of Acquisitions for Brightstone, shared his excitement: “Cranson Capital has been a great partner on this project. Brightstone is extremely excited to provide quality housing options to the Oakville community.”

Brightstone Developments, originally a division of Plazacorp and led by Steven Heller, is dedicated to infill development of townhouse communities in highly sought-after locations. The Oakville Garden Towns will mark Brightstone’s sixth project of this type and its first opportunity for accredited investors to participate.

About Cranson Capital

Cranson Capital is an Exempt Market Dealer specializing in Canadian Private Equity Real Estate. The firm is committed to offering investors opportunities to build wealth through long-term, private investments. Cranson Capital’s portfolio includes 24 active real estate development projects with a total completion value exceeding $3 billion.

About Brightstone Developments

Founded in 2016 as a division of Plazacorp, a prominent real estate leader in the Greater Toronto Area, Brightstone Developments leverages Plazacorp’s 40+ years of expertise. Brightstone is recognized for its mastery in low-rise development in infill locations and is positioned for continued success in creating value for buyers and investors.

DISCLAIMERS

This press release contains forward-looking statements regarding the Oakville Garden Towns Limited Partnership. These statements are based on current beliefs and various assumptions. Forward-looking statements involve inherent risks and uncertainties, and actual outcomes may differ materially. The LP does not undertake to update any forward-looking statements, except as required by law. This release does not constitute an offer to sell or a solicitation of an offer to buy any securities of the Oakville Garden Towns Limited Partnership.