Mattamy Homes to Purchase Monarch

/in , /by

Mattamy Homes have announced the purchase of Monarch Developments for $330 million, with the purchase expected to be completed in Q1 2015.

Mattamy Homes are Canada’s largest home builders with a huge market share in the low rise development scene all across the Country and have built over 60,000 homes since 1978.  It is understood that Mattamy have been looking to break into the high-rise boom in Toronto for some years and it looks like this purchase opens that door for them.

Mattamy Homes, Canada's largest low rise developments have announced the purchase of Monarch and will likely enter the high rise market
Mattamy Homes, Canada’s largest low rise developments have announced the purchase of Monarch and will likely enter the high rise market

Monarch are a very well respected developer with a huge portfolio of developments including popular projects such as Picasso, Lago and Waterscapes (check out Monarch’s full construction portfolio by clicking here).

Monarch own a large portfolio of developments including Picasso, located at Richmond & Peter.
Monarch own a large portfolio of developments including Picasso, located at Richmond & Peter.

This is huge news for the condominium market and we are excited to see what this purchase means moving forward.

Roy Bhandari