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Greater Toronto Area Multifamily Market Report Q3 2021

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research article

The long-term multifamily forecast has been widely optimistic, which has been reflected in escalating valuations and continued increases to the purpose-built rental pipeline.

  • Sizeable portfolio sales remain a key influencer to valuation benchmarks and represent a significant portion of market share.
  • On the tailwinds of the second most active Q2 on record, sales volume propelled to become the most active Q3 on record reaching an astounding $1.209B. This represents a YoY increase of 123.8% and is approximately $670M above the 5-year average.
  • The sale of 3,474 suites over 39 transactions represents a 91.4% increase in suites traded vs. a 30.0% increase of transactions, indicating substantial growth in average deal size.



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Greater Toronto Area Multifamily Market Report Q3 2021

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Kyle Lindsay

Senior Sales Representative | Multifamily

Toronto Downtown

Kyle Lindsay leads the Multifamily Group for Colliers in Toronto, and is a core member of the National Multifamily Team.  Working out of the downtown Toronto office, he extends his services to investors locally and throughout the country. Engaged in multi-residential sales since 2010, Kyle brings with him over a decade of real estate and multifamily experience. Integrating a strong development and urban planning background, Kyle thoroughly analyzes market trends when investment planning and finding viable real estate solutions. Kyle has years of experience working with all tiers of investors, including institutions, international investors, REIT’s, developers, and private-capital individuals. He has merited long term customer loyalty due to his talent for providing strategic advisory solutions tailored to the needs of each client.

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Dayma Itamunoala

Associate Vice President | Sales Representative

Toronto West

Dayma leads the Colliers Multifamily Team in Toronto. As part of the National Investment Team at Colliers, Dayma is recognized as a leading specialist in the disposition of multifamily property across Ontario. As a member of the Federation of Rental-Housing Providers of Ontario (FRPO), he is an active member of the multifamily community, regularly participating on expert panels and in industry events. Dayma has a consistent and reliable pulse on the most active and aggressive purchasers, ensuring they are highly engaged on each transaction. In the last 6 months Dayma has sold over $300M worth of apartment buildings. His experience has allowed him to work with all tiers of investors, including institutions, international investors, REIT’s, developers, and private-capital individuals. He is recognized for his unsurpassed market knowledge, diligent focus on client success, and for his commitment to integrity.

Dayma was born and raised in Toronto, Ontario. He attended the Ivey School of Business at Western University where he graduated with Honors.

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Matthew Bruchkowsky

Executive Vice President

Toronto Downtown

Matt joined the real estate industry in 2008 after graduating from a Bachelor of Commerce degree specializing in Housing and Real Estate Management at the University of Guelph. Matt has worked in both the property tax consulting and fee appraisal sectors. Matt is the Ontario Practice Leader for the Self Storage and Multi-Family Investment teams.

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