Jesta Group Real Estate Services Acquisition | M&A Deal

Jesta Group has acquired a bulk condominium portfolio in Toronto, a real estate development business, for $30 million. The strategic acquisition supports Jesta Group acquisitions in residential construction and expands its real estate services footprint through large-scale condo development in Ontario. Jesta Group plans to deploy about $500 million to build more than 1,000 units over roughly 12 months, using the platform acquisition to accelerate scale in the Toronto market. The platform acquisition is a strategic acquisition by a strategic buyer, with deal size under $10 million reported for the initial purchase and an announced status.