Neophyte investor and developer Elysium has surpassed $200 million in investments through a recent acquisition tied to a proposed multi-family rental development in Toronto’s High Park district.

Toronto-based Elysium said that it acquired a 1.23-acre development site at 21-29 Oakmount Road and 26-36 Mountainview Avenue. Founded in March 2023, Elysium is partnering with Estonia’s Hepsor on a two-tower project near the Keele and High Park subway stations.

“Our strategy of acquiring premium transit-oriented sites is driven by our commitment to address Toronto’s housing needs while delivering high-quality, accessible living spaces,” said Sayf Hassan, CEO of Elysium, in a news release. “This acquisition is a testament to our focus on strategic, long-term growth.”

Elysium said it has now deployed $50 million altogether across four projects, with more deals in the pipeline. The firm said it is “nearing 4,000 housing units and more than $3 billion in developments.”

The news release sheds some light on the High Park-area project. Elysium said Oiloi Living and NorthPeak are also involved. NorthPeak is Elysium’s lead capital partner.

Hepsor said previously that the development site (a three-property assembly) and project’s first phase are valued at about $89 million (€60 million.)

Elysium is also investing in three other Toronto projects that are located near LRT and subway stations in the areas of Weston and Finch; Isabella and Sherbourne and Glenavy Avenue (Bayside and Leach.)

Although Elysium is a young company, its top executives have plenty of real estate experience. The company is led by Harley Mintz, co-founder and former vice-chair of Deloitte; Jamie Torpey, who has more than 35 years of real estate development experience; and CEO Sayf Hassan, who is a veteran residential and mixed-use development specialist.

Photo: City of Toronto