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 C13

I have listed a new property at 1206 30 Inn On The Park Drive in Toronto. See details here

Welcome's Tridel's masterpiece Auberge on the Park. This modern 1-bedroom + den condo in the Auberge community, located at Leslie & Eglinton. One parking spot and one locker included. It offers 650 square feet of living space with 9-foot ceilings, situated on the 12th floor with an east-facing private balcony. The unit is equipped with energy-efficient appliances, an integrated dishwasher, soft-close cabinetry, in-suite laundry, and floor-to-ceiling windows with coverings. Sunnybrook Park across the street, 6min walk to Line 5 LRT station, 5 min drive to DVP, 20min to downtown Toronto.

Read

New property listed in Toronto C08

I have listed a new property at 211 55 Merchants' Wharf in Toronto. See details here

Welcome To The Most Desired Toronto Waterfront Community. Aqualina At Bayside By Tridel. Leed Platinum In Green Building Leadership.This Southeast 2 Bedrooms Unit, Offers Generous Living Space, Approx. 1023 Sq Ft, 10 Ft Celling, Many Upgrades Including Marble Countertop, Backsplash, Master Bathroom Marble Floor And Wall, Motorized Roman Roller Double Shades And Sheers Widows Coverage, Walk-In Closet, High-Speed Internet And One Parking Included, Ev Charge Stations Available At The Same Parking Level. Luxurious Amenities Including Rooftop Terrace, Infinity Swimming Pool, Bbq Cabanas, Lounge, Fitness Centre, Cycling And Yoga Room, Whirlpool, Theatre, Party Room And More... Bus Stops, George Brown College, Park, Skating Rink.

Read

New property listed in Toronto C15

I have listed a new property at 615 3181 Bayview Avenue in Toronto. See details here

Come and you'll fall in love with this unit at Palace Gate, 3181 Bayview Ave, where you can enjoy a perfect blend of luxury, comfort, and convenience. Featuring 2+1 bedrooms and 2 bathrooms, this bright and beautifully designed unit offers an expansive open-concept layout with large windows that fill the space with natural light. The versatile den is perfect for a home office, study, or guest area. Enjoy a generously sized living and dining area, a well-appointed kitchen, and plenty of room to entertain. Ideally located near Bayview Village Shopping Centre, parks, schools, TTC subway, and major highways (401 & 404), this condo provides the perfect balance of space, comfort, and convenience.Building's premium amenities include 24-hour concierge service, tennis court, an indoor pool, sauna, exercise room, guest suites, a party room, visitor parking, a car wash bay, and bike storage. The building offers a welcoming, secure, and vibrant community. Located just minutes from major highways, with easy access to public transit, top-rated schools, and serene parks. All utilities included. One parking and one locker included.

Read

New property listed in Toronto C01

I have listed a new property at 618 270 Wellington Street W in Toronto. See details here

Welcome to the ICON. Spacious and thoughtfully designed approx. 595 sq.ft. suite featuring floor-to-ceiling windows, west exposure, and a private balcony offering vibrant city views. Built by Tridel, this modern residence is ideally situated in the Entertainment District, just steps to The PATH, world-class restaurants, the Financial District, Rogers Centre, and the CN Tower.Enjoy exceptional amenities including visitor parking, BBQ area, cyber lounge, state-of-the-art fitness centre, indoor lap pool, rooftop terrace, and 24-hour concierge. Perfect for professionals or investors seeking an unbeatable downtown lifestyle.

Read

New property listed in Toronto C07

I have listed a new property at 1022 25 Greenview Avenue in Toronto. See details here

Welcome to Tridel's Meridian at 25 Greenview Ave #1022 - a beautifully designed 1-bedroom + den suite in the highly sought-after Yonge & Finch neighbourhood. This well-appointed unit features a spacious bedroom with a walk-in closet, a versatile den with elegant French doors (perfect for a home office or guest space), and a bright, functional open-concept kitchen and living area.Enjoy unbeatable convenience with the subway just steps away, along with an abundance of restaurants, shopping, supermarkets, and everyday essentials right at your doorstep. Well-managed building with excellent amenities.Includes 1 parking space and 1 locker.

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.