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November 16, 2023
People & Company News for November 17, 2023
- Hines has appointed Michael Masotti as senior director of leasing in Canada. He will oversee the Houston-based company’s Canadian leasing strategy and commercial real estate portfolio. He will also play a key role in managing the project and property leasing teams and maintaining the company’s third-party intermediary relationships. The 11-year industry veteran most recently served as senior director of industrial leasing for Montreal-based Ivanhoé Cambridge. Before then, he served as an associate vice-president at Toronto-based Devencore.
- Canada’s T&T Supermarket has hired Chris Pine as the head of its U.S. real estate business. T&T, which specializes in Asian groceries, described Pine as an “American real estate guru” in a news release. He formerly served as executive vice-president of anchors and big-box leasing at Brookfield Properties. T&T also also announced that it will open a regional office in the greater Los Angeles area. The moves come Richmond, B.C.-based T&T is preparing to open its first U.S. location, at Marketplace Factoria in the Seattle suburb of Bellevue, Wash., in 2024. The 76,000-square-foot location will be the largest Asian supermarket in the state and create 300 jobs.
- Dream Industrial REIT has promoted Alexander Sannikov to president and CEO. Sannikov moves up from his president and COO post. He will assume his new duties on January 1. After leading DIR for six years, his predecessor Brian Pauls has been appointed president and CEO of Dream Residential REIT. Pauls will focus on Dream’s multi-family real estate investments in the U.S.
- Joe Schneider has joined real estate technology firm RESAAS Services as head of industry development. The company’s letters translate to real estate software as a service. The Vancouver-based firm serves about 600,000 real estate agents in 160 countries. Schneider joined the company’s advisory board in September 2022. His previous experience includes serving as head of industry relations at U.S.-based national real estate brokerage firm Compass. Before taking on that role, he served for six years as director of global strategy and engagement for the U.S.-based National Association of Realtors, covering both commercial and residential real estate.
- Alate has promoted Courtney Cooper to partner. Alate is a Toronto-based early-stage venture capital fund manager that specializes in real estate technology. She previously served as a principal and corporate development director. Cooper will lead investments of the current fund, which has backed 17 proptech companies. The fund is set to facilitate 10 more investments in Canadian and American early-stage real estate and construction technology firms. In March, Cooper received the Canadian Venture Capital and Private Equity Association‘s Rising Woman Star award. She co-founded, and still serves with, the Proptech Collective.
- Colliers has appointed Achem Degen as its CEO for Germany, effective immediately. Degen has been serving as managing director of the company’s Munich office. He joined company in 1989 and has managing director and managing partner for Germany at various times. Toronto-based Colliers said his predecessor Matthias Leube mutually agreed with the company to leave and pursue other interests.
- Brookfield Asset Management has expanded its operations in Germany through the opening of a new Frankfurt office. Toronto-based Brookfield said the new office reinforces the company’s conviction in Germany and enables it to be closer to its investors, portfolio companies and investment opportunities across the German-speaking region. Brookfield’s German commercial real estate holdings include the redeveloped Potzdamer Platz in Berlin and Alstria Office REIT, which the company took over in 2021.
- Kevin Smith has relinquished his post as president of Canada’s Northland Living, the real estate development division of Northland Properties, to become CFO at U.S.-based Aspen One. Headquartered in the Colorado community of the same name, Aspen One is the parent company of Apen Skiing Company, Aspen Hospitality and ASPENX. The companies’ real estate holdings include four ski resorts, equipment rental and retail shops, a collection of on-mountain food and beverage outlets and a portfolio containing hotels and residences. Before becoming Northland Living’s president, Smith was the parent company’s executive vice-president and CFO. In those roles, he oversaw 65 hotels, 175 restaurants and two ski resorts.
- Altus Group has agreed to purchase Forbury Property Valuation Solutions, a commercial real estate valuation software provider serving the Asia-Pacific market. New Zealand-based Forbury’s cloud-based solutions provide valuation tools tailored for the APAC market, helping users make informed decisions on when to refinance, refurbish, reposition or divest their CRE assets, said Toronto-based Altus in a news release. The addition of Forbury’s widely adopted valuation solution bolsters Altus’ valuation offer and solidifies its strategic commitment to Australia and its growing APAC region, added the Canadian company. The transaction is expected to close around December 1.
- Kingsett Capital‘s historic Fairmont Royal York Hotel has received the Zero Carbon Building Performance certification from the Canada Green Building Council. The $65-million certification project was completed after about five years of detailed planning and execution, said Kingsett in a news release. The sustainability effort will remove 80,000 tonnes of carbon annually, or 80% of the hotel’s emissions. The Royal York opened in 1929.
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