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People & Companies News for March 29, 2024

  • Hazelview Investments has named Gary Welter as its new executive chairman. Welter brings more than 30 years of investment-related experience to the newly created advisory role.  He is a former managing director and chief investment officer of alternative investments at TD Asset Management (formerly Greystone Managed Investments.) He led all aspects of the alternative investments business and drove growth of the organization’s assets under management from $200 million to $34 billion. In his new role, he will provide strategic counsel to the CEO and the executive team while leading Hazelview’s new advisory committee. Welter will also advise on corporate strategy and the long-term direction of the firm. Toronto-based Hazelview invests in, owns and manages $12.2 billion in global real estate assets.
  • The Caisse de dépôt et placement du Québec (CDPQ) has appointed Rana Ghorayeb and Martine Rivard to its subsidiary CDPQ Infra’s board of directors. The company acts as owner-operator of major infrastructure projects. Ghorayeb’s appointment comes after she was recently appointed executive vice-president and head of real estate at the Montreal-based CDPQ. She had previously served as president and CEO of Otéra Capital, a CDPQ subsidiary which is being integrated into the parent firm, along with Ivanhoé Cambridge. Before taking the helm of Otéra, she had spent seven years as a CDPQ executive vice-president with the infrastructure team. Rivard has led human resources and employee experience departments at several major companies, including VIA Rail Canada, CSL Group and Air Liquide Canada. She also sits on Argropur’s board.
  • Killam REIT has announced that Bob Kay will not stand for re-election as board chair. He will retire from the board during Halifax-based Killam’s annual general meeting in May. Kay has served on the board for 22 years and chaired it since 2013. He built and owned the first two properties purchased by Killam. The two assets became the basis of the qualifying transaction to start Killam. Kay joined Killam after the deal closed. James Lawley will succeed him as chair after being re-elected to the board in May. Lawley is a long-serving board member with four decades of experience in the multi-residential real estate sector. His experiences include land acquisitions, permitting, financing, and overseeing the design and construction of many projects.
  • Concert Properties has named Lindsay Brand as its new chief investment officer. Brand moves to Vancouver-based Concert following 10 years with Dream. As CIO of Dream Unlimited and Dream Impact Trust, she led about $2 billion of acquisitions and structured approximately $3 billion of development partnerships. Previously, she financed development deals for Dundee Real Estate Asset Management. In addition, she has worked as a real estate and corporate development analyst for CIBC. Brand will be based in Concert’s Toronto office.
  • Seth Greenspan has been named president and CEO of Terra Firma Capital. Greenspan’s appointment comes after he and Dov Meyer acquired and privatized Terra Firm through their holding company GM Capital in October 2023. Terra Firma has also opened a new Toronto office at 970 Lawrence Avenue West. Founded in 2011, the company provides real estate financings secured by investment properties and real estate developments in Canada and the U.S.

Inside The Story

Lindsay BrandSeth Greenspan

About Monte Stewart

Monte Stewart serves as Content Director - Canada for Connect Commercial Real Estate. Based in Vancouver, British Columbia, Monte provides daily news coverage of major Canadian commercial real estate markets, including Vancouver, Toronto, Montreal and Calgary. He has written about the real estate sector for various media outlets and Avison Young since the early 2000s. In addition, he has covered sports, general news and business for several leading wire services and publications, including The Canadian Press, The Associated Press, The Calgary Herald, The Globe and Mail, Research Money, The Daily Oil Bulletin, Natural Gas World and The Toronto Star. Monte is active in his community as a youth basketball coach and raises funds for such charitable causes as Movember.

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