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People Space: Exec hirings at MACH, Colliers, Epic… | RENX – Real Estate News EXchange

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Daniel Arbour is the Daniel Arbour to the vice-president, major projects at Montreal’s Groupe MACH. (Courtesy Groupe MACH)

Montreal-based real estate developer, owner and operator Groupe MACH has appointed engineer and urbanist Daniel Arbour to the position of vice-president, major projects.

Considered a pioneer in modern urban planning and championing Québec expertise in that field across the globe, Arbour was one of MACH’s very first patrons. Until recently, he was senior partner at architectural firm Lemay,  dealing mainly with major urban projects in Québec and Asia.

Previously to that, he had founded Daniel Arbour and Associates, which was eventually acquired by Lemay.

At MACH, Arbour will lead the development of major mixed-use projects, including the Quartier des lumières in Montréal.

He will take his post Sept. 8.

“We are very happy to welcome Daniel to the MACH family,” said Vincent Chiara, president of MACH, in a release. “His arrival at MACH feels like a perfect fit. We share a common vision and the same desire to innovate. Moving forward, his invaluable expertise and remarkable managerial talent will be real assets for our current and future major projects.”

Jackson managing director at Colliers Toronto

Colliers International (CIGI-T) has hired Jamie Jackson as managing director of the office practice group in the Greater Toronto Area.

Jackson’s diverse career reflects the broad skillset he brings to Colliers.

Most recently, Jackson was director of financial services for Iron Mountain, creating and selling multi-million-dollar technology solutions for major banks, insurers and law firms, while overseeing teams of account managers, sales representatives and support teams.

In this role, he was recipient of the firm’s achievement in sales awards in 2016 and 2017.

Prior to this, he was CEO of Fundraising Initiatives North America Inc., leading 500-plus staff during a period of rapid development that resulted in more than 100 per cent revenue growth.

 “We’re excited to have Jamie as part of our leadership team where he will bring in new ideas and drive business development,” says Daniel Holmes, executive managing director of Colliers GTA.

“Jamie has an impressive track record of achieving substantial revenue increases, while doing so with a commitment to excellent client service.”

Sullivan joins Epic board

Toronto-based Epic Investment Services has appointed Kevin Sullivan to its board of directors. He is the board’s first independent director and his appointment expands the board to five members.

“(Sullivan’s) 25 years of experience in investment management and established relationships in the capital market industry will be a great complement to our board’s skills and experience as we execute our growth strategy and create value for our clients,” said Jeff Kohn, chair and co-CEO of Epic Investment Services, in the announcement.

Sullivan was president of KMS Capital Ltd., a Toronto-based advisory firm.

Previously, Sullivan was at GMP Capital since its inception, serving as president and as CEO. He oversaw the creation and growth of GMP Securities and Richardson GMP, a leading Canadian independent investment dealer and wealth management firm, respectively.

He also helped facilitate GMP’s IPO and oversaw its growth from a market capitalization of $300 million to over $1 billion within a seven-year period.

Prior to GMP, he spent three years in the European capital market and was also a lawyer in general practice in Calgary.

Lemay moves to Colonnade BridgePort

IMAGE: Joe Lemay is manager, investment management, at Colonnade Bridgeport. (Courtesy Colonnade Bridgeport)

Joe Lemay is manager, investment management, at Colonnade BridgePort. (Courtesy Colonnade BridgePort)

Colonnade BridgePort has added Joe Lemay to its investment management team as manager, investment management. In the role, Lemay will lead the transaction management for new acquisitions and dispositions of assets on behalf of the owner.

Lemay moves to Colonnade BridgePort from a national institutional real estate management firm, where he worked on the acquisitions and disposition team. Prior to this he was an analyst in the valuation and advisory department at Altus Group.

Jackson holds two bachelor of commerce degrees, one in finance and the other in entrepreneurship, from the University of Ottawa. Also, he is a candidate member of the Appraisal Institute of Canada.

Three new board members at Minto

Minto Group has appointed three new members to its board of directors. Floriana Cipollone, Gabriel Greenberg and Rachel Greenberg have joined the board of the privately held company.

Cipollone is the chief financial officer of MCAN Mortgage Corporation and previously CFO of Plaza REIT. She brings over 30 years of financial experience to the table including mergers and acquisitions, capital markets, corporate governance and risk, and investor relations.

Gabriel Greenberg is a corporate director of the Greenberg Family Enterprise. Before joining Minto’s board, he spent his career in the banking and real estate management industries in both Canada and the U.S.

Rachel Greenberg continues to work for the Greenberg Family Enterprise, most notably driving the creation of a philanthropy strategy for the third generation of the family.

Freed names Jiwa manager of investments

Imran Jiwa has been named the manager of investments at Freed Developments in Toronto.

Jiwa was most recently involved in real estate asset and investment management at Lux Equity, where he worked for over four years.

He also held a role in in asset management and operations, with a focus on seniors living at Metta Lifestyles, and spent a year as asset manager at Impact Equity.

He is also an executive board member at the Ontario Retirement Communities Association.

Graham retiring as Horizon North co-CEO

Horizon North Logistics Inc. (HNL-T) reports Rod Graham is retiring as co-CEO and president for modular solutions.

Graham will stay on for up to three months to assist with the transition. He will remain a Horizon North director until the next annual meeting as part of the transition plan.

“Mr. Graham was a key contributor in the completion of the Horizon North and Dexterra transaction and in the initial post transaction integration efforts,” said board chair Bill McFarland in the announcement.

“The board and Fairfax Financial Holdings Limited remains fully committed to all three lines of business at Horizon North. All parties agree that one leader and one voice is in the best interests of the corporation at this time as we create a world-class platform and organization.”

John MacCuish will become CEO, with continued leadership as president of the facilities management business.

Mark Becker becomes COO and will be involved in the modular solutions transition and continue to lead as president of the workforce, accommodation, forestry and energy services business.

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The state of multi-family real estate in Canada – Mortgage Broker News

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If any readers are friendly with commercial real estate junkies, they’ll already have heard an earful about how industrial and multi-family properties are where the smart money is being spent by CRE investors. But with unemployment still over 10 percent in August, and rents in some of Canada’s tightest markets showing signs of softening, investors eyeing the multi-family space for the first time may feel there’s reason for worry.

Not so, says Geoff McTait, executive director of origination for Timbercreek in Canada.

“The underlying fundamentals of this market are exceptionally strong here in Canada,” he says. “We continue to see a significant shortfall in terms of new supply meeting demand. That remains true, even once things normalize post-COVID.”

McTait does, however, acknowledge that the pandemic has thrown the tiniest of wrenches into the gears of the multi-family space in the form of increased vacancies and falling rents.

He says the rise in vacancies that Timbercreek has been tracking could be tied to several issues: a significant drop in immigration, an increase in the number of renters taking on roommates to cover their expenses, or unemployed apartment dwellers returning home. 

“I think a lot of people are moving home,” he says.

The same factors are contributing to an overall softening in rents, which has made for some tasty headline fodder in Toronto and Vancouver. But McTait feels rents, like housing prices, could see significant growth once the economy levels out, immigration returns to normal levels and those renters who moved home temporarily are ready to get back out on their own.

“Normalization will occur,” he says. “Demand will return, which will put pressure back on pricing. And I think you’ll continue to see a shortage on the new supply side of things coming to the market.”

Where’s the demand? Follow the jobs

With densification being the order of the day in most space-starved metropolitan areas and smaller buildings being economically unfeasible for most developers, McTait says much of the future demand will be for mid- to high rises, even outside major urban areas.

But he is less convinced by the concept of the urban exodus many market hounds have been touting since the beginning of COVID-19. He says most people will still want to live within an hour or so of their employers in case they need to commute part-time or access their offices.

“The suggestion that people will go to rural locations is a nice idea at this point in time – certainly it’s more affordable – but I don’t think it’s necessarily a solution nor practical in the long-term,” he says. “Employment opportunities will continue to dictate where people live and how they live, and that will continue despite the fact that we have this new potential to work from home.”

It’s little surprise, then, that McTait identifies areas like the GTA, Greater Vancouver, and Greater Montreal as markets poised for strong growth in the multi-family sector. But surging secondary markets like Hamilton, Quebec City, and Kitchener-Waterloo will also attract attention thanks to their affordability, strong employment environments and continued population growth.

Even multi-family markets in Canada’s more problematic economies, like Calgary and Edmonton, have “pleasantly surprised” McTait. There may not be a slew of demand for new properties in these cities, but current demand levels are strong enough to support the existing inventory.

“Multi-family, more broadly, is really the one asset class that we’ve seen over time, from primary, secondary, even into tertiary markets, where you do, in general, see strong demand, even in the tougher markets,” where vacancy ranges from three to seven percent, he says.

And Timbercreek isn’t the only company bullish on the future of multi-family real estate in Canada. In its recent Multi-Family Market Update for Victoria, BC, Colliers International said multi-family properties continue to outperform many other asset types.

“This sustained performance leads many to believe that the asset class will weather the storm of the crisis and thrive in the recovery,” reads the report.

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Calgary real estate sales improve despite ongoing pandemic – CTV Toronto

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CALGARY —
Calgary realtor Shaukat Hayat had his busiest summer ever, during the COVID-19 pandemic.

“During the pandemic people realize the value of a property, value of a house while they were staying inside,” said Hayat, who has been in the industry since 2006. 

Hayat said homes in the $300,000 to $500,000 price range are the ones moving, with homes selling within 30 to 45 days. 

“Whoever is going out, they are a very determined buyer, and whoever has listed the property, very determined seller,” said Hayat.

“Summer 2019 and summer 2020, there is an increase in the price and increase in the number of the units sold all over the city.”

Hayat points to a number of factors, including inventory levels and low interest rates on monthly mortgage payments.

The Canada Mortgage and Housing Corporation says sales started to pick up toward the end of June, but were soft in April, May and June. 

CMHC released its latest Housing Market Assessment on Monday, looking at the health of the market during the second quarter of 2020.

“We had a huge economic shock in labor markets, in the oil markets which Calgary is a centre of,” said Michael Mak, senior analyst, economics with CMHC. 

“This shock basically gave consumers a level of uncertainty and both sellers and buyers didn’t really have a certain outlook on the future. It may be that they decided to wait and see how the government responded how the pandemic responded before making any sales or buys.”

April to June 2020, Mak said approximately 3,400 homes sold in Calgary, compared to 5,200 during the same time period in 2019.

“The MLS average price was $423,311, in the second quarter of 2020, down four per cent from the same period in 2019,” reads the report. 

Mak said the report also found there is increased supply in new homes being built in the city compared to demand. 

Final sales numbers for the summer aren’t available yet, but Mak says sales are slightly higher and prices are about 10 per cent higher also.

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Don’t be a stranger! Sooke real estate agent won’t shy away from your questions – Sooke News Mirror

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When you’re buying your first house, you’re likely to have a thousand questions. You may even ask the same questions more than once. The same goes for selling — whether it’s your first sale or your fifth, you’ll likely ask the same questions over and over.

Most real estate agents can answer your questions the first time you ask, but it takes a special kind of ‘people person’ to treat you with genuine compassion the fourth time you ask.

“I want my clients to feel comfortable reaching out to me for anything, even if they’ve asked me before,” says Paula Wensley, a real estate agent with Macdonald Realty Ltd. “My goal is to reduce stress for my clients so they don’t lose sleep — they’ll probably lose sleep anyway, but I can do my best to make the process easier.”

Find the right fit

Paula is relatively new to Sooke but she’s no stranger to southern Vancouver Island, having lived in many Island communities over the years. That local knowledge comes in handy when helping clients find their forever-home.

“I’ve had some amazing experiences with clients who weren’t happy with where they lived, but didn’t know where to move,” she says.

They’d describe their personalities, lifestyles and goals, and ask Paula ‘Where can you see us? What community would suit us?’ Using her knowledge of local communities and her talents for connecting with clients, she’d make a recommendation.

“One client reached out a year after they’d moved in just to say thanks. She said ‘we wouldn’t have found this community without you.’ It’s amazing to have that kind of impact.”

3rd generation in real estate

Paula comes from a family of real estate agents including her grandpa, dad, uncles and cousins, so she draws from a wealth of experience beyond her years. Before real estate she worked as a property manager and commercial sales assistant, so she’s seen the industry from all sides.

“I try to offer a fresh approach — I’m up to date on new negotiating techniques and other strategies,” she says.

Paula finds she connects well with clients who prefer a bit more time and attention to their individual needs. If you have a unique situation or just want a little extra help with your listing, Paula will give you her full attention.

“I don’t see myself in sales, I see it as a service. It’s not just a conveyor belt of clients.”

Follow Paula Wensley on Facebook for her latest insights on the tight real estate market, and visit paulawensley.com to browse current listings from Mill Bay to Sidney to Sooke. Get in touch by calling 250-388-5882 or at pwensley@macrealty.com.

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