Property Americas performance


"In 2023, North American property values broadly declined in response to elevated interest rates; our results reflect this revaluation.  Despite the challenging environment, our leasing activity in 2023 was a bright spot; at year end, our Canadian portfolio was 100% leased and our US portfolio remained very strong. We achieved significant development entitlement milestones in each of our cities and we topped out on our latest apartment project in Berkeley, California. Lastly, we improved our GRESB score again this year, illustrating our focused sustainability efforts.

We see strong residential supply and demand dynamics returning to our cities and we are optimistic that interest rate stability and price discovery could increase transaction volumes in 2024.  We are positioning ourselves, along with our partners, to capitalise on the opportunities that will present themselves in this environment."

Steve O’Connell
Chief Executive
Grosvenor Property Americas

Discover more about Grosvenor's property business in the Americas

We are an active owner and developer on a journey to net zero Carbon operations, focused on transformative projects and the creative improvement of our investment portfolio.

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We are an active owner and developer on a journey to net zero Carbon operations, focused on transformative projects and the creative improvement of our investment portfolio.

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