About this episode
Institutional capital has stepped in at a time when retail investors have largely disappeared from the market. A newly announced $1.3 billion acquisition fund backed in part by the Ontario government’s Building Ontario Fund plans to purchase large inventories of newly completed but vacant condominium units across the Greater Toronto Area. The strategy is straightforward. Buy unsold condo inventory from stressed developers and convert those units into long-term rental housing. This is not a small pilot project. This is a large-scale institutional intervention into one of North America’s most overheated residential real estate markets. And in my view, it may eventually be remembered as the moment Toronto transitioned from a speculative condo market into an institutional rental housing market.-----------**Real Estate Espresso Podcast:** Spotify: [The Real Estate Espresso Podcast](https://open.spotify.com/show/3GvtwRmTq4r3es8cbw8jW0?si=c75ea506a6694ef1) iTunes: [The Real Estate Espresso Podcast](https://podcasts.apple.com/ca/podcast/the-real-estate-espresso-podcast/id1340482613) Website: [www.victorjm.com](http://www.victorjm.com) LinkedIn: [Victor Menasce](http://www.linkedin.com/in/vmenasce) YouTube: [The Real Estate Espresso Podcast](http://www.youtube.com/@victorjmenasce6734) Facebook: [www.facebook.com/realestateespresso](http://www.facebook.com/realestateespresso) Email: [[email protected]](mailto:[email protected]) **Y Street Capital:** Website: [www.ystreetcapital.com](http://www.ystreetcapital.com) Facebook: [www.facebook.com/YStreetCapital](https://www.facebook.com/YStreetCapital) Instagram: [@ystreetcapital](http://www.instagram.com/ystreetcapital)