Track Record
Our record follows one pattern: buy what others overlook, do the work, and sell into institutional demand.
REALIZED INVESTMENTS
A selection of our past investments, each bought below replacement cost or through a distressed process, then repositioned and sold.
3.7×
193 Yonge Street, Toronto
1998 to 2000
$2.8M bought · ~$10.3M sold
Bought functionally vacant for $2.8 million with a syndicate led by Intracorp. Within ten months the retail was relet to Toys R Us and the office to Corby's Distilleries, and the building sold to a Canadian pension fund for about $10.3 million.
5.4×
99 Spadina Avenue, Toronto
2000 to 2003
$2M bought · ~$10.8M sold
Bought vacant and obsolete for about $2 million with David Chard. We re-skinned it, replaced the electrical and mechanical systems, added two storeys and relet it to six tenants. It sold for $10.8 million and became the first building Allied Properties REIT acquired.
3.4×
55 Athol Street East, Oshawa
2002 to 2008
$3.6M bought · $12.1M sold
Bought from Bell Canada for $3.6 million, with every lease within two years of expiry. We repositioned it onto three long-term tenants, Ontario Power Generation, Bell Canada and the Ministry of Finance, lifting net income from about $400,000 to close to $1 million. It sold for $12.1 million.
4.4×
53 Yonge Street, Toronto
2008 to 2020
$2.6M bought · ~$11.5M sold
Bought for $2.6 million in the financial core with Tom Murphy. We relet it as ground-floor retail with office above and secured zoning for about 14,500 SF of additional density. It sold for $11.5 million.
PLATFORMS
Alongside Smycorp, Craig has co-founded investment platforms that brought partners into opportunities early.
2012 to 2018
CHC Realty Investments
The first institutionally structured acquirer and builder of purpose-built student housing in Canada, started when the sector was still a cottage industry here. CHC raised close to $200 million across a private LP of more than 2,000 beds and a publicly traded company of about 800 beds. The LP was sold in 2018 with attractive returns to investors, and the public company was then wound down and sold.
2008
Skye Trillium
Launched at the height of the financial crisis, while most capital was heading for the exits. The fund raised about $50 million and bought discounted Canadian CMBS notes from major American institutions, and investors realized significant returns.
CURRENT PORTFOLIO