Smelling a bargain, investors look to bulk-buy leftover GTA condos

As the number of finished but unsold condominium apartments reaches new heights in the Toronto region there’s more competition among lenders and investors offering options for builders to either sell units in bulk or refinance their standing inventory.

“We’re seeing people show up out of the woodwork. I’ve had various bulk-buying offers,” said Harley Nakelsky, president of Baker Real Estate Inc., a brokerage that specializes in preconstruction condo selling, speaking of groups and companies who have approached him with millions of dollars to buy perhaps dozens of recently completed condominiums in one large deal.