Since 2012
A focused firm, one market, building since 2012.
GrayRock Capital is a privately held real estate investment and development company based in Toronto. The firm invests its own corporate capital in real estate and works with select strategic partners on individual, project-specific real estate transactions.
Leadership
The people behind GrayRock.
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Paul Gill
Founder
GrayRock Capital is an Ontario-based real estate investment corporation focused on new commercial construction. Founder Paul Gill pairs 20+ years of real estate and finance experience with 12+ years of hands-on residential construction - renovations and new builds - and an early career in HVAC and geothermal systems.
Over the years, he has built strong relationships with family offices and private equity firms, and has structured debt and equity with private lenders, institutional partners, and individual investors across 10 projects and 30 Million in value. Current pipeline: a 50-unit purpose-built rental development in Brantford, Ontario.
GrayRock Capital applies conservative leverage, disciplined underwriting, and transparent reporting - and Paul invests his own capital alongside partners.
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Ravi Gill
Managing Partner
Ravi Gill brings over 15 years of financial services experience across Canada’s leading banks to her role as Managing Partner at GrayRock Capital. Her career spans TD, CIBC, HSBC, and RBC, where she developed specialized expertise in mortgage underwriting, credit assessment, and financial structuring - giving her an institutional-grade understanding of how deals are evaluated, approved, and funded.
As a licensed mortgage broker, Ravi has structured financing across a broad spectrum, from residential mortgages to complex multi-property investment portfolios. Her underwriting background means she operates on both sides of the table: she knows what capital providers look for, and she knows how to position a deal to get it funded. At GrayRock Capital, that dual perspective translates into disciplined deal selection, precise risk assessment, and financing structures that perform.
The firm
Toronto and the Greater Toronto Area, Ontario, Canada
Built to develop, own and create long-term value.
GrayRock Capital has been investing in Canadian real estate since 2012. The firm focuses on the acquisition, development, redevelopment and long-term ownership of residential, multi-residential, commercial and mixed-use real estate throughout Toronto and the Greater Toronto Area.
GrayRock identifies opportunities, evaluates properties and development potential, structures projects, works through planning and approvals, and remains involved through construction, completion and ownership.
GrayRock is a principal investor, using its own corporate capital in the real estate projects it pursues. Where appropriate, the firm works with select property owners, developers and strategic partners on individual transactions.
The firm takes a direct, hands-on approach to real estate. The people responsible for each project remain directly involved in the acquisition, development and execution of the opportunity.
GrayRock’s focus is on developing and owning real estate rather than operating as a broker, investment adviser, portfolio manager or provider of development services to the public.
How we work
Four principles guide every project.
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A clear development strategy.
Every project begins with a defined opportunity, development plan and analysis of the property’s fundamentals. GrayRock evaluates the potential of each opportunity carefully before committing its capital and resources.
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Disciplined execution.
Real estate development involves planning, approvals, financing, construction and countless decisions along the way. GrayRock remains directly involved throughout the process to maintain focus, accountability and execution.
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Principal capital and strategic partnerships.
GrayRock commits its own corporate capital to the real estate projects it pursues. For selected transactions, the firm may work with property owners, developers or strategic partners whose experience, resources or participation complement the project.
Each partnership is considered individually and is specific to the particular real estate transaction.
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Direct communication.
GrayRock works directly with the people involved in each project. Communication is straightforward, decisions are made efficiently and relationships are developed around individual transactions and long-term real estate objectives.
Our approach
Develop. Own. Build for the long term.
GrayRock takes a principal approach to real estate. Rather than pursuing volume, the firm focuses on a limited number of opportunities where it can contribute capital, development expertise and hands-on oversight.
The objective is straightforward: identify quality real estate opportunities, execute the development or repositioning strategy and create long-term value through ownership and disciplined development.
Partnerships
Selective. Transaction-specific. Built around the project.
GrayRock works with select property owners, developers and strategic partners on individual real estate transactions.
Partnership opportunities are evaluated based on the specific property, development opportunity, market, project requirements and the respective roles of the parties involved.
GrayRock does not operate a public investment program or solicit the public to purchase investment products. Its partnerships are focused on specific real estate projects and transactions.
For property owners, developers and potential project partners:
If you have a real estate opportunity that may align with GrayRock’s strategy, we welcome the opportunity to review the project.
Discuss a partnership