Purpose-Built Rental Fund

The Cranson Capital Purpose-Built Rental Fund is partnered with experienced purpose-built rental (PBR) developers to offer accredited investors an opportunity to invest in a portfolio of PBR projects across Southern Ontario to hold for cash flow and long-term capital appreciation.

Watch the introduction video here.

A modern mixed-use building with a red brick front, large ground-floor windows, and a mural of colorful flowers on the side. There are people walking on the sidewalk and cars on the street.
Rendering of a modern multi-story residential building with white and brown exterior, large windows, and a sidewalk with pedestrians in front.
A modern multi-story residential building with glass balconies and brick exterior, with cars parked in front during early evening.
Rendering of a modern multistory building with a dark red brick facade, large windows, and an arched entrance on a city street, under a partly cloudy sky.

  • PBR developments are residential apartment buildings constructed solely for the purpose of renting the units out. They differ from condos as they are built by developers specializing in PBR with one landlord for the entire building. They feature durable, sustainable design, optimized for tenant living and offering professional management services. The fund is focused on mid-rise projects, under 200,000 square feet for time and cost efficiencies.

  • PBR is being supported at all levels of government, including GST/HST relief for new PBR development, eliminated minimum parking requirements, development charge deferrals, a rent control exemption for units first occupied after November 15, 2018, and a 15% reduction in City of Toronto property taxes for new multi-residential builds. CMHC-insured programs can finance a high share of total project costs. Higher leverage reduces the equity required and also increases sensitivity to construction costs, interest rates and achieved rents.

  • Eligible investors may be able to hold units of the Cranson Capital Purpose-Built Rental Fund in registered accounts, including RRSPs and TFSAs, subject to the terms of the offering documents.

  • Ontario’s rental supply has not kept pace with household growth, and new housing starts have slowed. Purpose-built rental, supported by CMHC financing programs, is positioned to address part of that gap.

433 Units

Across 4 Projects, 2 Under Construction.

Fund Leadership and Advisory Board

Portrait of a middle-aged man wearing a suit and tie, with glasses and a beard.

Anthony Heller
President & CEO, Plazacorp

A man with a beard and short hair wearing a dark blue blazer and a light-colored, checkered button-up shirt, crossing his arms and smiling against a plain white background.

Devon Cranson, CPA, CMA
Founder and President,
Cranson Capital

  • Marlon Bray

    EVP Clark Construction

  • Josh Kaufman

    Co-Founder and Principal InnoDev Partners

  • Shlomo Marder

    CFO, Nortown Electric;
    President, Marder Foundation

  • Oren Turkienicz

    Principal and Vice President Acquisitions
    Pinemount Developments

  • Investment Philosophy: To become equity partners with experienced developers, capitalizing on their ability to generate profits. The Fund seeks to manage risk by investing across a portfolio of projects.

    Diversification: The Fund will invest in new purpose-built rental developments in Southern Ontario, with a focus on mid-rise projects, alongside experienced PBR developers. Diversification comes from holding several projects, locations and development partners rather than a single building.

    Deal Structuring: The Fund, through the Limited Partnership, will structure investments to prioritize return of capital and priority hurdles for the Fund. The Fund may invest as debt or equity. Targeted returns, and the assumptions and risks behind them, are set out in the offering documents.

  • Deal Sourcing: The Fund will utilize existing relationships and deal flow from developers along with our network of industry contacts.

    Due Diligence: The Fund will conduct thorough due diligence to determine the suitability and structure of investments.

    Investment Approvals: The Fund will require approval from its Advisory Board before committing to any investment.

    Project Oversight: Developers will provide the Fund project status reports, bank statements, quarterly financial statements and sales activity reports. Development projects will be governed by a Development Management Agreement (DMA). The DMA will outline the responsibilities of the Developer and include approval rights and certain protections in favour of the Fund.

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