Is Ontario Real Estate Finally Turning? Rents, Rates & Distressed Deals
Toronto Rents: Up 3 Months, Down 21—Plus InterRent Goes Private, Slate Distress, Ontario Multifamily Trades & Net-Zero Retrofit
The episode explains how national asking rents can be down 4.3% year over year for 21 straight months while still rising 0.2% month over month, highlighting Toronto’s narrowing annual decline to 1.9% and three straight monthly gains, with sharp submarket divergence and three-bedroom rents up 2.5% annually. It reviews Bank of Canada inflation-expectations data distorted by a May oil-price spike, and more current surveys showing easing expectations. The hosts cover Timbercreek acquiring Slate’s Calgary Life Plaza via credit bid after a $41.4M default, noting the same Slate fund’s Mississauga Dixie Outlet Mall receivership. InterRent REIT’s $13.55/unit take-private deal closes around July 9, removing a key public data source and underscoring CMHC insured-debt consent. Ontario’s June registry shows 64 multifamily deals ($322.4M), but the meaningful signal is mid-market trades around $1.9M, alongside a financing split between mid-to-high 3% insured-style money and higher bridge/private capital. The show also highlights Brampton’s Rose Towers enabled by HST removal and development-charge waivers, and Toronto’s Rick McCleary Towers net-zero retrofit using exterior prefabricated panels without displacing tenants, funded by CMHC and Natural Resources Canada.
00:00 Rents Look Contradictory
00:36 Toronto Bottoming Signals
03:56 Rates And Inflation Surveys
06:05 Calgary Credit Bid Distress
08:11 Free Tools Quick Plug
08:25 InterRent Goes Private
09:35 Ontario Registry Deal Flow
13:02 Brampton Rose Towers Supply
14:52 Toronto Net Zero Retrofit
17:12 Three Themes And Wrap
19:11 Disclosures And Disclaimer
About Your Hosts:
Addy Saeed: With over 20 years of experience in the real estate industry, I’ve navigated through the complexities of property investment, development, and management. My goal is to demystify real estate investing for our listeners.
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