Our North American property business was highly active in 2024. We established new partnerships with high-quality investors, launched two successful condominium sales campaigns, commenced and completed construction of residential projects, disposed of several non-strategic assets and executed significant leases to end the year with strong portfolio occupancy. Each transaction was completed in a historically illiquid commercial real estate market, a testament to the quality of our people and our properties.
Despite ongoing elevated interest rates, North American commercial real estate valuations and transaction volumes showed signs of stabilising in late 2024; a reflection of improving real estate fundamentals. While macro uncertainty has increased in the early months of 2025, we remain focused on continuing to execute our multiyear plan to optimise our portfolio, and to deliver on our residential pipeline of over 6,100 new homes.
Steve O'Connell
Chief Executive
Grosvenor Property Americas
We develop, manage and invest in vibrant urban locations where our activities can make a positive contribution to communities while promoting sustainability.
We develop, manage and invest in vibrant urban locations where our activities can make a positive contribution to communities while promoting sustainability.