Tempus Capital Announces Joint Development Project in Toronto with TUK Group

Executive Summary

• Tempus Capital Inc. announced a joint development agreement with TUK Group to build up to 14 residential units in Toronto, contributing to a total of 28 units under their $100 million investment program slated for completion by Fall 2027.
• The partnership highlights continued expansion opportunities through 2026‑2027 amid a shifting housing market focused on mid‑scale rentals for professionals and families.
• Tempus disclosed the resignation of director Brian Roberts (with a new director to be appointed) and confirmed it will not proceed with the previously considered Oak Street Partners transaction.

Key Details

• Joint Development Agreement: Tempus Capital Inc. and TUK Group entered into a joint development for a Toronto project delivering up to 14 residential units; combined total with existing projects will reach 28 units.
• Project Timeline: Expected completion by Fall 2027.
• Investment Program Context: Part of the $100 million investment program announced on April 10, 2025, aimed at expanding mid‑scale rental housing.
• Market Rationale: Emphasis on growing demand for attainable, well‑designed rentals for families and working professionals; positioning rentals as a stabilizing asset class.
• Director Change: Resignation of Brian Roberts as director; Tempus will appoint a replacement in the near future.
• Transaction Update: Completed due diligence on the Oak Street Partners transaction (announced Sep 24, 2025) and decided not to proceed at this time.

Notable Quotes

“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… This opportunity, when completed will be accretive for our shareholders.” – Russell Tanz, President and CEO, Tempus Capital Inc.