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 C14

I have listed a new property at Ph102 17 Anndale Drive in Toronto. See details here

Rarely Available 2Bedroom 2Bathroom Penthouse Located In The Heart Of North York. Highly Space Efficient Layout Without Wasted Area. Bright & Open Concepts. Floor To Ceiling Windows. W/O Balcony. West Exposure With Amazing View. 10Ft Ceiling. Upgraded Features & Finishings. One Parking Included. Amenities Include 24Hr Concierge, Indoor Pool, Exercise Room, Sauna, Party Room, Theatre Room, Outdoor Lounge, Guest Suite Etc. Minutes To 401 & Dvp. Steps To Sheppard Yonge Subway Station (Line 1 & 4). Close To Whole Foods, Longo's, Food Basic & Lcbo. Banks Nearby Include Rbc, Cibc, Td, Bmo & Hsbc. Lots Of Restaurants & Stores Along Yonge St. Photos were taken before current tenant's possession.

Read

New property listed in Pickering

I have listed a new property at 402 2540 William Jackson Drive in Pickering. See details here

Stylish & Spacious 3-Storey Townhome in Prime Pickering Location. Welcome to this beautifully designed 3-storey freehold townhome with common elements fee, offering nearly 2,000 sq. ft. of thoughtfully planned living space in a quiet Pickering community. Unlike stacked townhomes, this home offers enhanced privacy and a true residential feel, complete with a rare tandem garage accommodating 2 vehicles plus an additional parking space (3 total parking spots) and convenient indoor access. The main living level features 9-foot ceilings, hardwood flooring, and upgraded light fixtures throughout, creating a bright and open atmosphere. The open-concept living and dining area flows seamlessly to a private terrace balcony, perfect for relaxing or entertaining. The kitchen is designed for both function and style, featuring extra-tall cabinetry, generous counter space, and stainless steel appliances. Upstairs, you'll find three spacious bedrooms, including a primary suite with walk-in closet and ensuite bath. The second bedroom includes a walk-out terrace, while the remaining bedrooms share a well-appointed 4-piece bathroom. A versatile ground-floor room offers flexibility as a home office, den, or fourth bedroom, making this home ideal for growing families or remote work. Additional features include:Powder room on main level, Laundry room in basement. Tenant will pay: Hydro, Gas, Internet. Water is paid by the Landlord. Enjoy close proximity to popular dining and amenities including Japanese, Vietnamese, and casual dining options, as well as RBC, Scotiabank, fitness, and everyday conveniences. Nearby schools include St. Wilfrid Catholic School, Brock Elementary, Ronald Marion French Public School, and Pickering High School.

Read

I have sold a property at Gph 16 80 Vanauley Street in Toronto

I have sold a property at Gph 16 80 Vanauley Street in Toronto on Jul 13, 2026. See details here

Welcome to GPH16 at the luxury Tridel-built SQ2 at Alexandra Park! This beautiful 1 Bedroom + Den suite offers approximately 654 sq. ft. of thoughtfully designed living space with 10-ft ceilings, a functional open-concept layout, and floor-to-ceiling windows that fill the home with natural light. Step out onto your private balcony and enjoy open city views from this bright and inviting urban retreat.Located in the heart of downtown Toronto at Queen & Spadina, this prestigious Tridel community offers the perfect balance of modern luxury and neighbourhood charm. Walk to Queen Street West, the Financial District, the University of Toronto, TTC transit, top restaurants, cafés, shopping, and entertainment. One premium locker (the largest locker size in the building) is included. An underground parking space is also available for $250/month (negotiable).

Read

New property listed in Toronto C07

I have listed a new property at 260 Moore Park Avenue in Toronto. See details here

Client Remarks**ARGUABLY THE BEST LOT IN THE AREA - RARE investment for Investors, Builders, or Families. This 50 X 134 FT DOUBLE-FRONTAGE CORNER LOT offers THREE OPEN SIDES AND ONLY ONE ADJACENT NEIGHBOUR - instead of the typical three - with NO REAR NEIGHBORS and absolute privacy. Unlike typical busy corners, this unique property sits on a QUIET PRIVATE CUL-DE-SAC offering a peaceful, "no-traffic" sanctuary with prominent dual street presence for a future rebuild.*** INVESTORS/BUILDERS: Perfect canvas for a luxury detached residence or a high-yield MULTIPLEX + GARDEN SUITE. The dual street frontage enables flexible site planning and multiple unit entrances - rare in this area. Under Toronto's current multiplex zoning: UP TO 5 UNITS AS-OF-RIGHT (4-unit multiplex + garden suite), NO REZONING REQUIRED, development charges fully waived (Toronto waives DCs on multiplexes up to 6 units), and NO PARKING MINIMUM.*** READY TO RENT: SEPARATE ENTRANCE finished basement for immediate dual-stream income. Hold and rent while permitting, or live in while planning your build.*** FAMILIES: 100% turnkey, meticulously maintained home. Move right into a safe, serene neighborhood near top-rated schools. The deep, private backyard is a rare park-like retreat featuring an Amazing Outdoor Space & a Large Covered Patio - perfect for quiet entertaining with neighbor-free views. Separate entrance provide perfect potential for Multi-Generational Living.*** AMAZING LOCATION: Prime Yonge & Steeles position - steps to Centrepoint Mall, T&T Supermarket, Galleria, the FUTURE Yonge North Subway Extension. Quick access to Highway 401 and Finch Subway. **THIS ISN'T JUST A HOME; it's a GENERATIONAL ASSET in a rapidly appreciating transit-oriented hub. Land value and lifestyle converge here. Don't miss this true strategic investment! Pictures are artist concepts.

Read

New property listed in Toronto C10

I have listed a new property at 735 8 Hillsdale Avenue E in Toronto. See details here

Discover Unit 735 at Yonge & Eglinton, a modern 1+Den, 1-Bath home with 607 sq. ft. of well-designed living space and bright south-facing exposure. The open layout features floor-to-ceiling windows, a sleek kitchen with quartz countertops and an island, and a versatile den ideal for a home office or guest room. The bedroom is filled with natural light, offers ample closet space, and has direct access to a private balconyperfect for enjoying city views. Residents have access to exceptional amenities, including a rooftop garden, infinity pool with cabanas, BBQ areas, yoga and fitness studios, and elegant entertaining spaces. Steps to the subway and minutes from the future Eglinton LRT, this home offers both modern comfort and unbeatable convenience in the heart of Midtown.Utilities are separately metered.

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.