<figure class="image"><img src="https://greatgulfstrapi.blob.core.windows.net/greatgulf/assets/logo1_3cf8ba11f0.svg"></figure>Subdivision Planned In Manor Will Bring More Than 100 Townhomes For Rent East Of Austin Shonda Novak, Austin-American-Statesman A firm focused on building homes for rent is expanding across Texas, with plans to launch a fifth community in the Austin region. Beacon Residential said the project, which would be its second subdivision in Manor, will bring more than 100 townhomes to the fast-growing suburb east of Austin. Beacon Residential's new rental homes will add supply to a market with an ongoing need for more housing of all types in Central Texas. Beacon is a new build-to-rent brand from Toronto-based Great Gulf Group. In the Austin area, Beacon has existing projects in Kyle, Maxwell, Pflugerville and Manor. The company builds in rapidly growing areas and has 16 communities in all. Nine are in the leasing stages, with several more expected to break ground this year, including the new one planned for Manor. Within the past three years, Beacon says the company and its investors have committed $260million of their $400 million target to more than 2,300 for-lease units in those 16 projects, which are in the metro areas of Austin, San Antonio, Houston, Dallas, Charleston, Orlando and Tampa. <a href="https://greatgulfstrapi.blob.core.windows.net/greatgulf/assets/Toronto_based_Beacon_Residential_to_build_townhomes_for_rent_in_Manor_93568db1df.pdf" target="_blank" rel="noopener noreferrer">Read The Full Article</a>

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Beacon Residential featured in Austin American-Statesman

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</div></div> Active since 2020, Beacon Residential builds on Great Gulf's existing build-to-rent portfolio, spanning seven U.S. markets and representing 16 communities and over 2,300 homes&nbsp;TORONTO, July 25, 2023 /CNW/ - Great Gulf Group is pleased to announce the launch of the Beacon Residential brand, the company's purpose-built, single-family-rental community division. The unveiling of the brand comes at an opportune time as the build-to-rent portfolio continues to experience tremendous success in the U.S., with a total of 16 communities, nine currently for lease and several more expected to launch this year.&nbsp;&nbsp;Since 2020, Great Gulf Group has been a catalyst in bringing an innovative approach to rental housing to the U.S. Sun Belt with quality construction and curated designs. In less than three years, the company, along with its LP investors, have already committed $260 million of their $400 million target to over 2,300 units across 16 projects. With communities in the metropolitan areas of Charleston, Orlando, Austin, Houston, Tampa, Dallas, and San Antonio, Beacon Residential's portfolio satisfies an incredible demand for quality, well built homes for lease in both stand-alone and master-planned communities within rapidly growing submarkets.&nbsp;&nbsp;"The launch of Beacon Residential could not have come at a better time. While we've had an active portfolio in this asset class for over three years, we recognized the opportunity to formalize our activities with the launch of a dedicated brand. With demand driven by strong job growth, low taxes, high affordability, low unemployment, and the desirability for homes in warmer climates, we recognize the Sun Belt's appeal to a new wave of renters who prioritize flexibility and an array of other turnkey options over homeownership," says Kiel O'Sullivan, President, Beacon Residential. Beacon Residential is a subsidiary of Great Gulf Group, an international, award-winning, innovative real estate developer with 48 years of experience. The company has built more than 30,000 homes in Canada. Through its U.S. sister company, Ashton Woods Homes, the group also has delivered more than 70,000 homes across eight American states. Drawing on the expertise and innovation of these companies, Beacon Residential is well positioned to deliver exceptional value to its residents, while adding to the much-needed housing stock within the areas it serves.Beacon's professionally managed communities offer a maintenance-free lifestyle, along with a wide array of amenities such as smart home technology, lawn care, pest control, and 24/7 emergency maintenance. Residents also enjoy access to community amenities including pools, dog parks, playgrounds, and more.&nbsp;"In the last couple of years, our communities have helped bring the benefits of apartment-style living to a single-family home setting, a market that has been underserved," continues O'Sullivan. "The growing demand for new, quality purpose-built rental housing is driven by factors such as affordability, changing life stages, and the increasing trend of 'renters by choice'. At Beacon, we believe the renter's experience should be at the forefront when developing our build-to-rent communities." For more information about Beacon Residential, please visit www.beaconresidentialcommunities.com&nbsp;&nbsp;About Great Gulf GroupEstablished in 1975, the Great Gulf Group includes Great Gulf, a premier real estate organization that develops and constructs low-rise, mid-rise, and high-rise communities across North America; First Gulf, a commercial developer specializing in industrial, life sciences, data center, and mixed-use properties; Tucker HiRise, focusing on the construction of high-density, mixed-used projects; H+ME Technology, a precision-engineered panelization manufacturing facility; a new recreation and resort division responsible for Taboo and Lora Bay in Ontario, and Killington Mountain in Vermont; and Beacon Residential, a single-family build-to-rent division with a growing presence across the U.S. Sun Belt. Ashton Woods Homes, a sister company, was founded in 1989 by principals of the Great Gulf Group. Ashton Woods has delivered more than 70,000 homes across the U.S. Southeast and Southwest and is the largest privately held homebuilder in the United States, based on closings. Learn more at <a href="http://www.greatgulfgroup.com">www.greatgulfgroup.com</a>&nbsp;About Beacon ResidentialBeacon Residential, a subsidiary of Great Gulf Group, is a leading build-to-rent company specializing in single-family communities. With a focus on sustainable construction, award-winning design, and a customer-centric approach, Beacon Residential aims to redefine rental living across the U.S. Sun Belt. Learn more at www.beaconresidentialcommunities.com. &nbsp;&nbsp;

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Great Gulf Group Launches Beacon Residential Brand As Its Build-to-rent Portfolio sees growing success In U.S. Sun Belt

Bill Tresham, Executive Chairman Great Gulf Group, is pleased to announce the appointment of Kiel O'Sullivan as President of Beacon Residential the Group's US single-family build-to-rent business. Kiel will be responsible for forming and executing the strategic direction of the business overseeing the operations, capitalization, and growth across major MSAs in the US Sunbelt. &nbsp;Since launching in 2021, Beacon Residential has entered seven markets, including Austin, San Antonio, Houston, Tampa, Dallas, Charleston and Orlando with 18 projects that will represent over 2,300 units at full buildout. <img src="https://greatgulfstrapi.blob.core.windows.net/greatgulf/assets/Kiel_548c899e6f.jpg"> &nbsp;"On behalf of Great Gulf Group, we are delighted to have Kiel lead the development and growth of this business," said Bill Tresham Executive Chairman. "Kiel played a pivotal role in launching and capitalizing the business and we are confident he will deliver on our objective to provide brand-new purpose-built rental home communities to highly desirable, undersupplied markets in the US." &nbsp;Kiel joined the Great Gulf Group in 2019 and served on the leadership team as SVP of Strategy &amp; Corporate Development, responsible for real estate development and investment opportunities across residential and mixed-use asset classes and for capital fundraising in the U.S. and Canada. In that role, he led the underwriting, due diligence and execution of several acquisitions, dispositions, and investments. He holds a Bachelor of Business Administration from the Schulich School of Business at York University and a Master of Business Administration from Columbia Business School. &nbsp;About Great Gulf GroupEstablished in 1975, the Great Gulf Group including Great Gulf Homes an international award-winning, low-rise and landmark high-rise residential developer providing over 90,000 families with places to call home; Ashton Woods Homes, the largest private builder in the U.S.; First Gulf, an innovative market leader in sustainable, accessible and transit-oriented commercial developments and large scale design-build industrial facilities; Tucker HiRise, a leading construction management company, specializing in the construction of high-density, mixed-used projects; H+ME Technology, a precision engineering panelization manufacturing facility; and Taboo Muskoka, one of Canada's top-ranked golf courses, is one of North America's premier real estate organizations. With major projects in Canada and the United States, the company's fully integrated activities span the entire real estate spectrum. Learn more at <a href="http://www.greatgulf.com">www.greatgulf.com</a> &nbsp;Madeline Zito, Senior Vice President Public Relations, Great Gulf Group, 416 744 2222 C 647 938 1851, madeline.zito@greatgulf.com, www.greatgulf.com

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Great Gulf Group Appoints Kiel O'Sullivan President US Single-Family Build-To-Rent

TORONTO, ON, May 3, 2022 – Great Gulf Group (Great Gulf), together with its partners Westdale Properties and a large Canadian institutional investor, has acquired 787 residential lots across seven master-planned communities in San Antonio, Austin and Houston, TX, from Forestar Group, Inc. (Forestar) to build, own, and operate dedicated single-family rental homes.&nbsp;“This acquisition provides an excellent entry point into the Houston and Austin markets while increasing Great Gulf’s operational scale across our Texas portfolio. Based on demographic trends and customer preference, we believe the demand for professionally managed rental housing is undersupplied,” said Aole Ansari, Chief Operating Officer, Great Gulf Build-to-Rent. “Land development and construction activities are underway, and we expect to begin home deliveries to residents in late 2023. We look forward to future investment opportunities and strengthening our relationship with Forestar.”&nbsp;Daniel Bartok, Chief Executive Officer of Forestar, said, “These sites provide an excellent opportunity to include purpose-built single-family rental housing for consumers interested in living in these communities. We are very pleased to bring Great Gulf into our builder program to fulfill the growing demand for this housing option and look forward to growing our relationship.”&nbsp;Great Gulf’s investment strategy is primarily focused on US Sun Belt states, whose high population growth is driven by strong job growth, low tax and regulatory burdens, affordable housing, low unemployment, and warmer climates. Together with existing projects in Tampa, FL, Charleston, SC, San Antonio, TX and Dallas, TX, Great Gulf’s build-to-rent portfolio is approaching 2,000 lots and homes within one year of operation. About Great Gulf Group The Great Gulf Group was established in 1975 and has become one of North America’s leading real estate organizations with fully integrated activities that span the entire real estate spectrum. Through its various platforms including Ashton Woods and First Gulf, the Great Gulf Group develops, constructs and manages residential and commercial real estate across 18 cities and employs over 1,500 people in North America. The Great Gulf Group has developed over 80,000 residences and 30 million square feet of commercial real estate over its 45-year history. Please visit <a href="https://www.greatgulf.com/">www.greatgulf.com.</a> About Westdale Westdale has owned, managed and developed real estate across North America for over 60 years. Westdale’s Canadian portfolio includes approximately 7000 residential units and over 2.5 million square feet of retail, commercial and industrial spaces. In the US, Westdale owns and manages approximately 35,000 residential units in 150 properties and 30 cities, as well as 3 million square feet of retail and commercial space. Please visit <a href="https://www.westdale.com/">www.westdale.com.</a> &nbsp; For more information: Madeline Zito, Senior Vice President Public Relations Great Gulf 416 744 2222 C 647 938 1851 <a href="mailto:madeline.zito@greatgulf.com">madeline.zito@greatgulf.com</a>

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Great Gulf Group Acquires New Communities for Build-to-Rent Homes in San Antonio, Austin and Houston from Forestar Group, Inc.

Great Gulf, Westdale and a Global Institutional Investor Team up to Form US$200M Venture on Build-to-Rent Single Family Housing Strategy in U.S. SunbeltTORONTO, ON, March 2021 - The Great Gulf Group (“Great Gulf”) is pleased to announce that it has partnered with Westdale Real Estate Investment and Management (“Westdale”), a leading North American real estate company and with a leading global institutional investor with in excess of US$100 billion of net assets under management to source land opportunities, develop, build, own and operate dedicated build-to-rent single family housing communities in the U.S. Sunbelt through a new venture. The partners have committed an initial US$200 million of equity to the venture with the potential for an additional US$200 million equity commitment.“We are very excited to have teamed up with two like-minded partners in order to capitalize on the demand for new purpose-built single family housing communities that we expect will continue to experience unprecedented growth particularly in the U.S. Sunbelt. We believe this growing demand is largely driven by lifestyle and lifecycle changes by Millennials, Gen Xers and Baby Boomers, affordability and an increased trend of “renters by choice”- a trend that was further accelerated by the onset of Covid- 19. The build-to-rent single family sector currently lacks in supply of modern purpose- built single family housing and our partners and we are well positioned to leverage our collective platforms and expertise. We expect the favorable demand-supply imbalance to continue in the near term with current annual demand estimated at over 250,000 newly built single-family rental homes compared to a current annual supply of approximately 50,000. Great Gulf is in a unique position to leverage its land sourcing, acquisition, development and home building capabilities both internally and via third- party home builders in order to develop a multi-market strategy across the U.S. Sunbelt.” said Ilias Konstantopoulos, CEO of the Great Gulf Group.About Great Gulf The Great Gulf Group was established in 1975 and has become one of North America’s leading real estate organizations with fully integrated activities that span the entire real estate spectrum. Through its various platforms including Ashton Woods and First Gulf, the Great Gulf Group develops, constructs and manages residential and commercial real estate across 18 cities and employs over 1,500 people in North America. The Great Gulf Group has developed over 80,000 residences and 30 million square feet of commercial real estate over its 45-year history. Please visit www.greatgulf.com. Great Gulf, via the venture, currently controls several build-to-rent single family communities that are under development and is targeting to develop and own in excess of 4,000 homes. -30-About Westdale Westdale has owned, managed and developed real estate across North America for over 60 years. Westdale’s Canadian portfolio includes approximately 7000 residential units and over 2.5 million square feet of retail, commercial and industrial spaces. In the US, Westdale owns and manages approximately 35,000 residential units in 150 properties and 30 cities, as well as 3 million square feet of retail and commercial space. Please visit www.westdale.com. For more information: Madeline Zito, Senior Vice President Public Relations Great Gulf 416 744 2222 C 647 938 1851 madeline.zito@greatgulf.com

Great Gulf, Westdale and a Global Institutional Investor Team up to Form US$200M Venture on Build-to-Rent Single Family Housing Strategy in U.S. Sunbelt

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