High Art Capital

Canaccord Genuity Acts as Exclusive Financial Advisor and Sole Agent to High Art Capital on its Announced $1.3 Billion+ GTA Rental & Affordable Housing Fund

Canaccord Genuity is pleased to announce that, on March 10, 2026, its client, High Art Capital (“High Art”), announced the launch of its Greater Toronto Area (“GTA”) rental and affordable housing initiative, in partnership with Building Ontario Fund (“BOF”). The fund is expected to be capitalized with a minimum of $1.3 billion, and intends to primarily acquire blocks of newly completed, unsold condominium units across the GTA, and convert them into long-term rental housing. The initiative is designed to deliver ~2,200 rental units in the near term, including ~550 affordable rental units intended to be protected in perpetuity through title-based protections and related agreements. Affordable rents are expected to be set at the lower of 25% below local market rent or 30% of median gross household income across the GTA.

The fund is anchored by a commitment from BOF of up to $300 million in mezzanine debt financing and a nominal equity investment, which closed on February 13, 2026.

In addition, High Art has reached agreements in principle with Del Condominium Rentals Inc., a member of the Tridel Group of Companies, and Menkes Condominium Rentals, to manage leasing and tenancies, and to work with a not-for-profit partner to support eligibility and allocation for the affordable units.

High Art Capital is a private investment firm focused on real estate across Canadian markets. They partner with government, institutional and private capital to acquire, manage and create value in underserved or overlooked segments of the market. The firm creates value through thematic ideas which require ingenuity.

Building Ontario Fund is a board-governed Crown agency with a mandate to catalyze investment in revenue-generating infrastructure projects across Ontario. Backed by $8 billion in funding from the province of Ontario, BOF supports transformative projects in six priority areas: affordable and student housing, long-term care, energy, transportation, critical minerals, and municipal and community infrastructure. Through innovative financing and partnerships with institutional investors and Indigenous communities, BOF helps unlock private capital to deliver high-impact infrastructure.