TORONTO -- The end of a private investigation into the murders of Barry and Honey Sherman should not be mistaken for a sign that an arrest is imminent, according to a journalist who has closely followed the case.

Kevin Donovan, a Toronto Star investigative reporter who has written a book about the murder of the wealthy Toronto couple, told CTV's Your Morning that he suspected Monday's announcement of the investigation ending had more to do with the leads it generated drying up.

"Nothing had gone to the police since July, so it was probably time to finish it up," he said.

The Shermans' bodies were found in the basement of their home on Dec. 15, 2017. Police have said they were in "semi-seated" positions, with belts fastened around their necks and tied to a railing.

Police initially investigated the deaths as a likely murder-suicide before changing their focus to a double homicide. The Sherman family has criticized the police investigation, with a family-hired lawyer saying last year that private investigators were able to find significant evidence that police detectives missed.

The relationship between the Shermans and police seems to have improved since then, Donovan said, noting Monday's joint announcement that the private investigation was wrapping up.

Police and the Sherman family said that police have received 205 tips since the murder investigation began, with 343 more coming in via the private investigator. They want the people who contacted the private investigator to resubmit their information directly to police, which Donovan ascribed to fears that the information may have undergone "editing" before it was passed along.

They also reiterated that they want anyone who knows anything that might help detectives to come forward, no matter how insignificant the information might seem. Donovan voiced skepticism that this would bear fruit.

"I don't think a lot of new information is going to come out of this, but I think the police feel they have to do this so that they're never accused down the line of having tunnel vision on a case," he said.

Still, a lack of tips isn't the same thing as a lack of progress in the case. Donovan said he has been told that police are "cautiously optimistic" about their ability to solve the murders.

"I do suspect we're going to see something in the early part of 2020, unless this case has become a cold case," he said.