On March 10, 2026, High Art Capital announced the launch of its GTA Rental and Affordable Housing Initiative. This is a fund expected to be capitalized with a minimum of $1.3 billion. It also plans to acquire blocks of newly completed, unsold condominium units across the Greater Toronto Area and convert them into long-term rental housing.
The fund is anchored by a private equity commitment from Building Ontario Fund of up to $300 million in mezzanine debt financing and a nominal equity investment.
Building Ontario Fund is an independent, board-governed Crown agency that leads private and institutional investment into revenue-generating infrastructure projects through Ontario.
Osler, Hoskin & Harcourt LLP advised Building Ontario Fund with a team consisting of Ricco Bhasin (Corporate and Private Equity), Joyce Bernasek, Lucas Colantoni and Olga Lenova (Financial Services), Rod Davidge and Simon Laughlin (Real Estate), David Davachi (Tax), Mike Vandenberghe, Jessica Redmond and Shawn Cymbalisty (Corporate).
Key Contact
Partner, Corporate, Toronto
Team
Partner, Financial Services, Toronto
Associate, Financial Services, Toronto
Associate, Financial Services, Toronto
Partner, Real Estate, Toronto
Associate, Real Estate, Toronto
Partner, Tax, Toronto
Associate, Corporate, Toronto
Associate, Corporate, Toronto
Partner, Corporate, Toronto
