Institutional investors committed over $1.8 billion this year to buy developers' leftover condo inventory in bulk — at 20–30% discounts. Here's who's buying, what they're paying, and what it means if you own, or want to buy, in one of these buildings.
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Inside the brief
The $1.3B High Art Capital fund (backed by the province), Jesta Group's $500M program, and the smaller deals stacking up behind them — with names, numbers, and buildings.
21–30%+ discounts versus individual sale prices. Why developers are selling at a loss — record unsold inventory, failed closings, and loans coming due.
The five things to know before you buy into a building where one fund owns 100 units — comparables, rents, financing, warranties — plus the bull case.
Jim's take
I'm glad institutions see value in Toronto real estate — that's a professional vote of confidence. But I'd think twice before buying into a building where a single fund owns a hundred units. At that point you're not buying into a condo community. You're buying into someone else's rental building.— Jim Emilson
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