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TORONTO \u2013 Global real estate firm Jesta Group has announced the acquisition of a bulk condominium portfolio in Toronto valued at $30 million in a bid to buy up unsold units.<\/p>\n
\u201cThe transaction \u2014 one of the first of its kind in the city \u2014 marks Jesta Group\u2019s entry into the Toronto residential market and the launch of a $500 million acquisition program targeting more than 1,000 condominium units over the next 12 months,\u201d a release reads.<\/p>\n
The acquired portfolio is located near Toronto Metropolitan University and walking distance to transit, shopping and recreation. Its exact address was not revealed in the release.<\/p>\n
Jesta Group states it is actively pursuing additional bulk acquisitions of existing developer condominium inventory across downtown Toronto locations, partnering with select family offices and institutional investors.<\/p>\n
\u201cToronto\u2019s fundamentals remain strong and the current market environment has created a unique window to deploy capital at scale,\u201d said Anthony O\u2019Brien, senior managing director at Jesta Group, in a statement. \u201cWe are aggressively pursuing opportunities that fit this investment ethos and encourage developers with qualifying inventory to reach out directly.\u201d<\/p>\n<\/p><\/div>\n