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Fundraising & Other Ventures

Image by Julia Cheperis

Ashlar Urban Story

Founded in 1999, Ashlar Urban was originally set-up in partnership with the SNC Lavalin to provide support to the first facility manager and Canada Profac (subsequently SNC facility management) Ashlar became independent in 2004 and pursued an urban brokerage platform in Toronto and became the much imitated and most dominant player in b class office leasing and the peripheral office.  Ashlar grew to 50 people and successfully acquired by Cushman & Wakefield in 2017. 

 

Arguably Cushman’s best acquisition in Canada. 

Image by Karl-Heinz Müller

Skye Trillium Debt Fund

Set-up as a partnership in 2008 Skye Trillium successfully raised close to 50 million dollars and deployed it to take advantage of the financial crisis through the purchase of discounted CMBS notes leading to a great financial outcome.

Image by Nate Watson

CHC Student Housing Fund

CHC was the first institutional structured acquisitor and builder of purpose built student housing in Canada.  Having raised close to 200million in 2012 and CHC acquired 9 buildings leading to a successful exit in 2018.  

 

In the private LP we had 4 properties with over 2,000 beds with acquisition price of approx. $165,000,000 and in the public company we had another 4 properties with approx. 800 beds with acquisition price of $70,000,000. Investors in the LP received a cash on cash return of 7.6% and a 14.2 IRR

 

The Public company had to be wound down after the sale of the LP companies as the market was not yet ready for the public student housing reit.

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