Spring Newsletter 2017

The NAIOP DL members have been busy over the previous quarter. Below you’ll see news on moves and deals related to your fellow DLs.



Neil Davidge has joined Crestpoint as a Financial Analyst from Proteus, a pension consulting firm.

Mathieu Fleury has joined Forgestone as Vice President, Development Finance from Dream Unlimited where he was Director, Urban Development Finance.

Christopher Ho will join QuadReal as Manager, Asset Management from GWL Realty Advisors Inc. effective July 1, 2017.

Michael Lee has joined KingSett’s investment team from JLL’s national capital markets team.

Zohaid Qureshi has moved from Cushman & Wakefield as a Senior Analyst, Capital Markets to Quadreal as an Associate in their Investments & Development Group.

Michelle Skutelsky has been promoted from Leasing Manager to Director, Leasing at NorthWest Healthcare Properties.

Liam Whelan has been promoted within Sun Life Investment Management to Associate Director.



Joel Goulding at Cushman & Wakefield, recently completed the sale of 430 Adelaide Street West, a 9,773 square feet of stratified retail space at the “Brant Park” condominium in Toronto. The retail space was sold vacant to a local investor for $6,821,550. Joel also recently completed the sale of 543 Queen Street East, where he represented the Bank of Nova Scotia in the sale of a 2,597 square foot standalone bank branch to a local user group for $3,160,000. The purchaser is planning to occupy the premises as an orthodontics clinic.

Aaron Moore, at Avison Young, has recently completed the sale of 581 Downie Street, Stratford, a single tenant 16,255sf building leased on a long term basis to Sobeys Capital. The investment was sold on behalf of a private investor for $2,900,000.

Charlie Musgrave, Senior Director of Office Leasing, North America at Ivanhoé Cambridge (& Team) has recently completed the anchor tenant lease transaction for the ‘AAA’ Class office development - 81/141 Bay Street – with The Canadian Imperial Bank of Commerce (CIBC). The CIBC has committed to leasing between 1.35M sq. ft. – 1.75M sq. ft. of the 2.9M sq. ft. Complex.




Alexandra Khazzam of DREAM Asset Management (left) and Brendan Sullivan of CBRE Limited (right) were both recognized with the NAIOP Greater Toronto Chapter Developing Leader Award at the 16th Annual Real Estate Excellence Awards Gala, April 3, 2017.


Alexandra Khazzam, Director, Investments, for Dream Asset Management, is responsible for acquisitions and dispositions for Dream's Canadian REIT entities. Currently, Alex is overseeing the disposition of over $1.5B of Dream Office REIT's Private Market assets. Specifically, Alex is responsible for the execution of all aspects of maximizing disposition asset value, including strategy, negotiations, underwriting and transaction management.

Prior to Dream, Alex was an Associate Vice President at Brookfield Financial, where she was involved in over $3B of investment sales transactions across all asset classes. She was also part of the launch of the company's private equity placement platform through the successful fund raise of over $200M for a Canadian Landlord and Asset Manager. Alex holds a Bachelor in Mathematics and Economics from McGill University, and an MBA from INSEAD.

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Since joining the CBRE in 2010, Brendan Sullivan has completed over 400 lease transactions with an aggregate value of over $550M. Successfully servicing the needs of regional, national and international tenants and landlords, Brendan provides his clients with strategic commercial real estate consultation.

Brendan is involved with the real estate community as a co-chair for the NAIOP Greater Toronto REX Awards, and he co-chairs the Education Series for the Society of Industrial and Office Realtors (SIOR). An active member of the community, Brendan is a co-chair of the JDRF Ride to Cure Diabetes, helping to raise over $3.5M for diabetes research. He is also a member of his church’s Knight of Columbus charitable organization.

Brendan was a member of the Kansas State University Baseball Team before graduating from the Calvin School of Business with degrees in Management and Marketing. He currently holds professional designations from the Toronto Real Estate Board, Ontario Real Estate Association, and the Canadian Real Estate Association.

Recent DL Events:

TOPIC: Making the entrepreneurial leap in commercial real estate
March 9th - Michael and Adam Lazier discussed their careers in commercial real estate leading to the start-up of their company Northbridge Investment Management.

TOPIC: Centered Leadership
April 25th - Ellen Malcomson (Principal, Ellen Malcolmson Executive Coaching Inc.) presented her research on five dimensions that have been shown to enable self-confidence and resilience. The talk focused on the aspects of meaning, energy, positive framing, connecting and engaging; linked to the ability to develop leadership presence, resilience to change and a sense of belonging.

TOPIC: Setting up your development for success
June 13th - Adrian Sluga (Senior Vice President, JLL) moderated an insightful discussion about Cadillac Fairview's 16 York St. development project.  Representatives from Cadillac Fairview, PCL and B+H Architects shared their thoughts on how to bring a pro-forma into reality.
Panalists included: Darius Zaccak, Director of Operations, Canadian Buildings, PCL - David Handley, Senior Vice President, Special Projects, Cadillac Fairview - Tõnu Altosaar, Senior Principal - Director, Middle East & North Africa, B+H Architects.

Developing Leader Volunteer Day with Eva's
June 7th - A group of Developing Leaders volunteered at the Eva’s Initiative Annual Home for Life Event. Eva's works directly with every youth who comes through its doors to develop a personalized action plan that will empower them to achieve their short and long-term goals. The award-winning programs have been proven to help homeless youth lead productive, self-sufficient, and healthy lives. Pictured below are Ronald DeCoteau (Scotiabank), Farrah Khimji (Forgestone) and Duncan Smith (Daniels)


Sixth annual Development Challenge

  • DLs earn industry-wide recognition
  • DLs Showcase their knowledge and learn from your peers through the analysis of a complex waterfront development site selected for this year's contest
  • Network with Developing Leaders from a wide range of disciplines in a fun, competitive atmosphere
  • Compete for a chance to present your concept live before a panel of high-profile industry experts in the final round of judging on Awards Night, September 26th
  • Cash prizes will be awarded to the First Place, Second Place and Third Place teams.

     >> See the 2017 Competition Agenda


Follow Jobs at torontonaiop.org

On this website, members and non-members may post job descriptions which can be viewed by members of NAIOP Greater Toronto. A post remains viewable for one month, or longer if renewed. View the JOBS BANK website feature to see job descriptions that may currently be posted.


Inspire is the quarterly newsletter produced by the Developing Leaders of NAIOP Greater Toronto. Its purpose is to keep you connected; to follow the accomplishments of young leaders in the commercial real estate industry, and provide inspiration to all Developing Leaders seeking professional growth.

If you want to share interesting news with the DL network, please send your entries to our Editor, Sean Menkes.

Previous issues of INSPIRE:

Winter 2017

Summer 2016

Spring 2016

Winter 2016

Dealmaker of the Quarter

John Stewart, Senior Vice President of Colliers Capital Markets in Canada, has recently completed the following sale transactions:

10 BUILDING single tenant retail portfolio in Western Canada (3 Vancouver, 2 Calgary, 1 Richmond, 1, Victoria, 1 Kelowna, 1 Red Deer, 1 Edmonton). The portfolio consists of ~100,000 sf and was sold for ~$76m.

8 BUILDING industrial complex located at 225 Henry Street in Brantford, ON. The properties consists of ~1,380,000 sf and sold for ~$68m.

8 BUILDING industrial portfolio in the GTA (3 Toronto, 3 Mississauga, 1 Stoney Creek, 1 London). The portfolio consists of ~370,000 sf and was sold for ~$39m.

2 BUILDING suburban office complex located at 25 & 75 Watline Avenue in Mississauga, ON. The properties consists of ~160,000 sf and sold for ~$26m.

3 BUILDING single tenant industrial complex located at 2000 Kipling Avenue, 10 & 13 Bethridge Road in Toronto, ON. The properties consists of ~300,000 sf and sold for ~$22.5m.

Welcome New DL Members

Feb. 1, - July 31, 2017

Kaitlyn Ledingham, Gardiner Roberts LLP

Josh Ball, Jones Lang Lasalle

Jamie McElroy, Jones Lang Lasalle

Michael Rowe, Jones Lang Lasalle

Christopher Colley, QuadReal Property Group

Natasha Kuperman, Schulich School of Business - York University

Thomas Biglands, CBRE Limited

Tayla Simpson, CBRE Limited

Warren Saldanha, KingSett Capital

Philip D'Angelo, Mayfly Capital LP

Selina Tao, CBRE Limited

Clarice Zeon, Faylaura Investments

Neil Davidge, Crestpoint Real Estate Investments Ltd.

Owen McCartney, Morguard

Gabriel Weitz, Morguard

Aaron Therrien, BOMA Toronto

Domenic Ieraci, Tovera Capital Group

Kris Ljubic, Great-West Life Assurance Company

Morgan Rubes, C.F. Crozier & Associates Inc

Ashish Shukla, C.F. Crozier & Associates Inc

Joshua Wynn, Western University

Michael Botting, Jones Lang Lasalle

Joseph Nickerson, Slate Asset Management LP

Ryan Henry, Royal LePage Commercial

David Lay, CIBC Real Estate Finance Division

Sim Manocha, R2 Crowd

Kingsley Ogu, Ryerson University

Samuel Petras, CIBC

Dylan Rappel, CIBC

Ryan Smele, Panattoni Development Company

Frank Le,  Allied Properties REIT

Anthony Martino, Metropolitan Commercial Realty Inc.   

Rossi Piro, ImPark   

Johnathan Rojas, Oxford Properties Group

David Nsa, Green Standards Ltd.

Shaine Currie, Oxford Properties Group

Katie Hutt, QuadReal Property Group

Tiffany Qiu, MCAN Mortgage Corporation

Jason Ko, Avison Young

Ian Lasuardi, Dorsay Development Corporation

Jonathan Lee, CBRE Limited

David Clarke

Ortega Tapambwa, CoStar Group

Robert Fiorino, DIALOG

Michael McIntosh, BMO Capital Markets

Clarke Struthers, Cushman & Wakefield

Douglas, Chen, Blake Cassels & Graydon LLP

Claudia Freire, Altus Group

Enrique Paez, CIBC Real Estate Finance Division

Samuel Frum, RBC Capital Markets

Elizabeth Agbi, Infrastructure Ontario

Robin Hacker Teper, Oxford Properties Group

Isabel Henkelman, McCarthy Tetrault LLP