Canadian company buys up $30M worth of unsold condos in downtown Toronto -- it says it’s just getting started

News From CP24 by Phil Tsekouras (May 12, 2026)

A Canadian real estate company is eyeing Toronto’s soft condo market as it looks to buy $500-million worth of unsold units, starting with a $30-million “bulk” purchase steps from Toronto Metropolitan University.

Jesta Group, based in Montreal, announced Tuesday its acquisition of the condos in the downtown core as the first part of a 12-month strategy that will target more than 1,000 properties in the city.

The number of condos included in the purchase and their addresses were not disclosed.

In a news release, the company said that Toronto’s current market environment has created a “unique window to deploy capital at scale.”

“We are aggressively pursuing opportunities that fit this investment ethos and encourage developers with qualifying inventory to reach out directly,” Jesta Group’s senior managing director, Anthony O’Brien, said in a statement.

The firm said it is “actively pursuing” additional bulk acquisitions across “high-quality” downtown Toronto locations. Their plans for the properties were not made clear in the news release.

The announcement comes at a time when condo sales in Toronto are plunging.

An analysis of Toronto’s real estate market by Urbanation last month found that sales declined to a 35-year low in the first quarter of 2026. At the same time, there were zero new condo projects launched in the GTHA for the first time in decades.

According to Urbanation, a record-high 4,295 new condos were completed and unsold as of Q1, which is more than double the unsold inventory that was on the market last year. That number is five times higher than it was in 2024, they said.

Jesta went on to say that its buying strategy marks “one of the largest single-firm” bulk residential acquisition the Toronto market has ever seen.


Original Link: https://www.cp24.com/local/toronto/2026/05/12/montreal-based-real-estate-company-buys-30-million-worth-of-condos-near-toronto-metropolitan-university/

RSS

New property listed in Toronto C08

I have listed a new property at 607 155 MERCHANT'S WHARF in Toronto. See details here

Available Immediately! Welcome to Aqualuna by Tridel, the newest landmark on Torontos waterfront. This rare, brand-new 1+1 bedroom, 2 bathroom suite offers 870 sq. ft. of luxury living with hardwood flooring throughout.The upgraded linear kitchen features built-in appliances, premium countertops, and ample storage. The open-concept living/dining area walks out to a balcony with views of the Bayside community and Lake Ontario. The primary bedroom includes floor-to-ceiling windows, a closet, a 3-piece ensuite Building Amenities: State-of-the-art fitness centre, yoga room, entertainment lounge, multi-purpose lounge, outdoor pool and terrace with lake views, plus two stylish lobbies.Location: Steps to Lake Ontario, George Brown College, Queens Quay, with quick access to the DVP, PATH, financial district, and Leslieville. One Parking and one locker included.

Read

New property listed in Toronto C08

I have listed a new property at 408 118 Merchants' Wharf in Toronto. See details here

Experience boutique lakefront living at Unit 408 in Aquabella by Tridel. This south-facing 1,442 sq ft residence offers breathtaking direct views of Lake Ontario and an elegantly designed layout featuring 2 bedrooms, a spacious den, and 3 luxurious bathrooms.Beautifully maintained by the original owner, this home includes 2 premium underground parking spaces and 1 locker, providing ample convenience and storage. The expansive open-concept living and dining area flows seamlessly onto a private balcony, where you can relax and take in unobstructed water views.The chef-inspired kitchen features integrated Miele appliances, a cooktop, built-in oven and microwave, and an extended island perfect for entertaining. Both bedrooms include spa-like ensuite bathrooms and custom closets for optimal organization and style.Enjoy resort-style living with five-star amenities, including a rooftop infinity pool, fitness centre, sauna, theatre, party room, and 24/7 concierge service. Steps to the waterfront promenade, Sherbourne Common Park, Sugar Beach, George Brown College, and easy access to the Financial District and DVP - this is luxury urban living at its finest.

Read

New property listed in Toronto C08

I have listed a new property at 1003 15 Merchants' Wharf in Toronto. See details here

Welcome To Tridel-Built Aqualina at Bayside. This 605 sqft 1 Bedroom unit is definitely your next cozy home! Functional Layout; The Sleek Modern Kitchen Boasts High-End Built-In Appliances Including Refrigerator, Oven, Ceramic Cooktop, Range Hood, Microwave, Dishwasher, Plus In-Suite Washer/Dryer. Residents Enjoy World-Class Amenities: Rooftop Infinity Pool, Fitness Centre, Yoga Studio, Steam Room, Party Lounge, Guest Suites, Business Centre, Theatre, Billiards, BBQ Area, And 24-Hour Concierge, With Direct Access To The Waterfront Promenade. Perfectly Located Steps To Sugar Beach, Sherbourne Common, George Brown College, St. Lawrence Market, Transit, The Harbourfront, And Scenic Parks.

Read

New property listed in Toronto C08

I have listed a new property at 524 55 Merchants' Wharf in Toronto. See details here

Welcome to 55 Merchants' Wharf #524 - a refined urban retreat in the heart of Torontos vibrant waterfront.This stunning 1,372 sq. ft. residence, crafted by renowned builder Tridel, offers 2+1 bedrooms and 3 elegant bathrooms and an open-concept layout designed for modern living. A rare highlight is two balconies, where you can take in sweeping, tranquil views of Lake Ontario a perfect escape from the city's bustle. Sophisticated finishes, floor-to-ceiling windows, and an abundance of natural light elevate the living experience. One Parking and One Locker Included. Nestled in a thriving neighbourhood, you'll enjoy easy access to Toronto's best from the iconic St. Lawrence Market and Sugar Beach to the historic charm of the Distillery District, and Scotia Bank Arena and Rogers Centre. Quick access to major highways ensures seamless connectivity across the city. 55 Merchants' Wharf is more than a home - it's a lifestyle. Embrace luxury waterfront living and soak in the beauty of Lake Ontario from this exceptional condo. Building amenities are spectacular: Rooftop infinity pool and hot tub, bookable private BBQ areas, a theatre, large exercise room, party room, library, Concierge And 24/7 Security.

Read

New property listed in Toronto C08

I have listed a new property at 1222 155 Merchants' Wharf in Toronto. See details here

Welcome to Suite 1222 at Aqualuna, an extraordinary 2-bedroom, 3.5-bath residence offering sophisticated design and breathtaking lakefront views. Located in Tridel's signature Bayside community, this spacious suite features a stunning open-concept living and dining area with floor-to-ceiling windows and seamless access to an expansive private terrace and balcony - perfect for entertaining or relaxing by the water.The gourmet kitchen is elegantly appointed with premium built-in appliances, a large island, and sleek contemporary finishes. The primary bedroom boasts two walk-in closets and a spa-inspired ensuite with double vanity, soaking tub, and glass-enclosed shower. The second bedroom includes its own ensuite and ample closet space, providing comfort and privacy for guests or family. Enjoy Aqualuna's world-class amenities, including a fitness centre, outdoor pool, party room, 24-hour concierge, and direct access to Toronto's vibrant waterfront promenade.2 parkings and one locker included.

Read
Categories:   Banbury-Don Mills, Toronto C13 Real Estate | Bay Street Corridor, Toronto C01 Real Estate | Bayview Village, Toronto C15 Real Estate | Beaver Creek Business Park, Richmond Hill Real Estate | Berczy, Markham Real Estate | Brownridge, Vaughan Real Estate | Church-Yonge Corridor, Toronto C08 Real Estate | Don Valley Village, Toronto C15 Real Estate | Georgina Real Estate | Henry Farm, Toronto C15 Real Estate | Islington-City Centre West, Toronto W08 Real Estate | Kensington-Chinatown Real Estate | Kensington-Chinatown, Toronto C01 Real Estate | Keswick South, Georgina Real Estate | King Real Estate | Lansing-Westgate, Toronto C07 Real Estate | Little Portugal, Toronto C01 Real Estate | Markham Real Estate | Moss Park, Toronto C08 Real Estate | Mount Pleasant East, Toronto C10 Real Estate | Mount Pleasant West, Toronto C10 Real Estate | Newtonbrook West, Toronto C07 Real Estate | Niagara, Toronto C01 Real Estate | North Riverdale, Toronto E01 Real Estate | Oshawa Real Estate | Pickering Real Estate | Pinecrest, Oshawa Real Estate | Ramara Real Estate | Richmond Hill Real Estate | Toronto C01 Real Estate | Toronto C07 Real Estate | Toronto C08 Real Estate | Toronto C10 Real Estate | Toronto C13 Real Estate | Toronto C14 Real Estate | Toronto C15 Real Estate | Toronto E01 Real Estate | Toronto E02 Real Estate | Toronto E08 Real Estate | Toronto E09 Real Estate | Toronto Real Estate | Toronto W04 Real Estate | Toronto W08 Real Estate | Unionville, Markham Real Estate | Vaughan Corporate Centre, Vaughan Real Estate | Vaughan Real Estate | Victoria Square, Markham Real Estate | Waterfront Communities C1, Toronto C01 Real Estate | Waterfront Communities C8, Toronto C08 Real Estate | Westbrook, Richmond Hill Real Estate | Wexford-Maryvale, Toronto E04 Real Estate | Whitchurch-Stouffville Real Estate | Willowdale East, Toronto C02 Real Estate | Willowdale East, Toronto C14 Real Estate | Willowdale West, Toronto C07 Real Estate
This website may only be used by consumers that have a bona fide interest in the purchase, sale, or lease of real estate of the type being offered via the website. The data relating to real estate on this website comes in part from the MLS® Reciprocity program of the PropTx MLS®. The data is deemed reliable but is not guaranteed to be accurate.