The Globe and Mail reports in its Wednesday edition Peter Munk says he is largely out of the real estate game, but he is putting his money in one surprising spot -- Toronto condos. The Globe's Tara Perkins writes the 85-year-old founder and chairman of Barrick Gold who also ran Trizec Properties, is now spending some of his personal wealth on financing condo projects in Canada's most populous city. Policy makers in Ottawa, including Finance Minister Jim Flaherty and Bank of Canada governor Mark Carney, have suggested that they think too many condos are being built in Toronto's core. Some developers have shelved project plans amid a sales downturn, and the number of new buildings that opened in the first quarter of this year was the lowest since the third quarter of 2009. The number of unsold units in projects that are going ahead has climbed to 18,845, up 21 per cent from a year ago. Mr. Munk is unfazed. The developer Mr. Munk is backing is CD Capital. CD Capital's projects include the 300-unit Sixty Colborne project near the St. Lawrence Market, which is yet to be built but launched last year, and 155 Redpath, near the intersection of Yonge Street and Eglinton Avenue, which is just launching.