BST has purchased 487 multi-family units across three apartment towers in Toronto, the company announced Tuesday.

The acquisitions of the rental suites expand BST’s growing multi-residential portfolio in Ontario. Financial terms were not disclosed.

The Toronto-based real estate investment, development and asset management firm said the properties are located in established, transit-oriented neighbourhoods with access to subway stations, major transit routes and transportation corridors. The buildings are also close to retail amenities, schools, universities, healthcare facilities and major employment centres, supporting long-term demand for rental housing.

The acquisition was backed by institutional investment partners and aligns with BST Canada’s strategy of pursuing multi-residential investments through disciplined underwriting and a long-term ownership approach, according to the company.

“Backed by leading institutional investment partners, BST Canada continues to pursue attractive multifamily investment opportunities through a disciplined investment approach, rigorous underwriting, and a long-term ownership philosophy,” said the company.

BST said its integrated platform manages acquisitions, investment analysis, due diligence, construction oversight and asset management, enabling it to complete transactions efficiently while providing vendors with certainty of execution.

The company said it is actively seeking to acquire institutional-quality multi-residential properties with more than 100 units, as well as larger portfolio acquisitions across Ontario. Its primary investment targets are assets in the Greater Toronto Area, Ottawa and other major urban centres.