Velmont Capital LP, a partnership formed by BST Canada, Phoenix Insurance, and Menorah Mivtachim, each holding equal one-third stakes, acquired three residential rental buildings in Toronto totaling 487 housing units for approximately $153 million (roughly NIS 332 million). The properties are 10, 15, and 16-storey residential buildings located in central Toronto areas near employment hubs, with occupancy rates ranging from 97 percent to 99 percent and combined annual income of approximately $9.5 million. This marks the first transaction completed under the joint investment platform, which began operating in January 2026 with a focus on acquiring, improving, and managing rental housing complexes in Ontario. BST Canada, led by CEO Alaa Tannous, serves as the managing partner responsible for local operations. The three partners have committed roughly $160 million in capital to the platform, intended to support acquisitions totaling approximately $450 million; approximately $63 million of equity was deployed for this transaction, with the balance financed through debt. The stated long-term target is to build a portfolio exceeding 5,000 rental housing units in Canada. Group chairman Rafi Bisker and Tannous both characterized the deal as the start of an expanded joint venture and continued growth for BST's Canadian operations, which have run for more than two decades.