maestro
Senior Member
There is only one owner.... First Capital. It loses out on rental income, but there is no flipping to be had.
These buildings do get flipped. In this case, First Capital already flipped majority ownership of the rentals to CAPREIT. The point here is there's still deadlines to get this turned over and repercussions for the contractor if possession gets delayed. Time costs money and there's even less of that in rentals. Comparably rentals are being built faster than condos in Toronto.