REAL ESTATE INVESTMENTS AND ADVISORY
We invest in opportunistic real estate situations, on a deal-by-deal basis, using established relationships with global partners, including sovereign wealth funds and family offices. We target opportunities where there is deep distress, assets are out-of-favor or there is an operational disconnect. We target 3 to 5 year levered IRRs of 14% to 20%. We focus on developed markets in North America.
REAL ESTATE DEAL HISTORY
ELAD CANADA INC. / AGELLAN REIT
2020
Financial advisor to Rester Inc. in the financing and sale of the US$600M Agellan REITÂ portfolio to a global sovereign wealth fund.
WESTIN CANADA HOTEL PORTFOLIO
2018
Advisory on the C$200M Westin hotel portfolio in Ottawa, Calgary and Edmonton from Starwood Properties.
PARQ VANCOUVER
2016 to 2018
Advisory on the distressed purchase and restructuring of the Parq Vancouver Casino and Hotel.
TRUMP TORONTO
2017
Advisory and investment in purchasing the distressed debt of the Trump Toronto
Hudson Bay Company/
Saks Fifth Avenue
2013
Lead US$500M equity financing on HBC's acquisition of Saks Inc.
MI DEVELOPMENTS
2010
Active engagement in MI Developments to restructure the company into Granite REIT. Shareholders realized a 4x return on their money.
MAGUIRE PROPERTIES
2009
Investment and engagement in perpetual, cumulative preferred shares. Acquisition of Maguire by Brookfield Properties. Investors made 3 times their investment.
TIMBERWEST
2009
Investment in broken situation in Vancouver Island-based land owner/forestry company at distressed asset valuation. Exited in eventual sale to PSP Investments.