Inside the bulk condo buying boom in Canada's largest markets

As published in RENX.ca on September 8, 2026.

By: Steve McLean featuring Leor Margulies

The article examines the growing trend of bulk condo acquisitions as investors take advantage of Toronto’s elevated inventory and challenging condo market. Leor Margulies, Partner and lead for our Commercial Real Estate and Development Group and Real Estate Lending Group, explains that well-capitalized investment groups are purchasing large portfolios of condo units from developers at significant discounts, with the goal of generating rental income in the short term while benefiting from market appreciation over the longer term.

Leor also notes that developers facing high levels of unsold or terminated units may have limited options, including selling inventory at a discount, converting projects to purpose-built rentals, or partnering with investors to complete and operate buildings as rental properties. He highlights the financial challenges involved, noting that rising land and construction costs, combined with current rental rates, can make some projects economically unviable. As Toronto’s condo market continues to face oversupply and financial pressures, bulk investors are increasingly positioned to acquire distressed inventory, while developers look for ways to manage their exposure and preserve value.

Read the full article in Renex.ca