BST Canada has acquired three Toronto apartment buildings containing 487 rental units in a transaction valued at approximately $143.8 million.

The portfolio is made up of a 194-unit building at 775 Steeles Ave. W., a 164-unit building at 8 Godstone Rd. and a 129-unit building at 640 Lauder Ave.

The Toronto-based investor said the highrise properties are in established, transit-oriented neighbourhoods near public transportation, shops, schools, universities, health-care facilities and employment centres.

The acquisition expands BST Canada’s presence in Ontario’s multifamily market. The company said it is continuing to seek apartment properties containing more than 100 units, as well as larger portfolios.

Its acquisition strategy is focused on the Greater Toronto Area, Ottawa and other major Ontario markets. BST Canada said it plans to hold the properties as long-term investments.

The company invests in, develops and manages residential, commercial and medical properties across Ontario. Its internal operations include acquisitions, investment analysis, due diligence, construction oversight and asset management.

BST Canada is led by president Alaa Tannous and is part of BST Group, an international publicly traded real estate organization. The company said its investments are backed by institutional partners.