Tempus Capital, TUK Group close Toronto project

Executive Summary

• Tempus Capital Inc. and TUK Group have closed a new joint development project in Toronto, expected to deliver up to 18 residential units.
• The partnership has secured several additional sites under contract, supporting their broader $100-million investment program aimed at increasing purpose-built rental housing supply in Toronto through 2026.
• The project targets mid-scale rental communities for working professionals and families, aligning with the companies' strategy to capitalize on Toronto's housing demand and provide stable, long-term returns.

Key Details

• Transaction Closure: Tempus Capital Inc. (CSE: TEMP) and TUK Group closed a new joint development project in Toronto.
• Project Scope: The closed project is expected to deliver up to 18 residential units.
• Pipeline Expansion: Several additional sites are currently under contract, positioning the partnership for continued expansion throughout 2026.
• Investment Program: This project is part of a $100-million investment program focused on increasing the supply of purpose-built rental housing across Toronto.
• Target Demographic: The partnership targets well-located urban sites for mid-scale rental communities designed for working professionals and families.
• Strategic Focus: The companies are focusing on professionally managed purpose-built rental communities that offer affordability, modern design, and long-term stability.
• Market Rationale: The development addresses Toronto's housing demand which continues to outpace supply, with a shift toward mid-sized rentals that provide space at workable price points.

Notable Quotes

• Russell Tanz, President and CEO of Tempus Capital: "This project reflects the market reality we are seeing today. Families need attainable, well-designed rental options, and municipalities need partners who can deliver responsibly. Purpose-built rentals are a stabilizing asset class that revitalize neighbourhoods and create long-term value while providing reliable performance for shareholders."
• Jordan Alexander King, Partner at TUK Group: "Toronto is experiencing a shift in how people choose to live. The growth of mid-sized purpose-built rentals gives families the space they need at a price point that works. These projects strengthen communities while also providing predictable, sustainable returns. We are proud to continue scaling our development pipeline alongside Tempus."
• Evan Ungar, Partner at TUK Group: "Our development pipeline continues to grow as we secure strategic sites across the city. This project and the additional properties under contract reflect our confidence in the long-term strength of the Toronto rental market. Purpose-built rentals remain resilient, support community growth and provide the steady income characteristics long-term investors are seeking."