In the Nicola Wealth Real Estate 2023 Mid-Year Update, Mark Hannah, Managing Director of Real Estate, provides insights into the performance of the Nicola Wealth Real Estate (NWRE) portfolio during the first half of 2023. He also offers his perspective on the prevailing market dynamics. This engaging and enlightening webcast features the NWRE leadership team, who delve into their individual roles and how their strategies are adapting to the evolving investment landscape.
Highlights from the webcast:
- Returns Overview: Alex Messina, Vice President, Acquisitions, presents year-to-date returns for Nicola Wealth Real Estate’s three Limited Partnerships, delving into historical context and what he expects going forward for 2023.
- Fund Composition: Matthew Schaeffers, Director of Acquisitions, outlines pursued asset types, market selection rationale, and strategies for potential Alpha returns.
- Valuations & NAV: Shaun Blythen, Director of Acquisitions, examines property valuation's significance, REIT undervaluation, and Nicola Wealth Real Estate’s diligent appraisal process.
- Interest Rates & Debt: Matthew Middleton, Director of Real Estate Debt, analyzes interest rate impacts, debt portfolio composition, evolving lender dynamics, and inflation's role.
- Build to Own: Josh Anderson, Vice President of Development, discusses the built-to-own strategies, current challenges, favoured assets, and cost dynamics.
- Leasing's Influence: Roz McQueen, Director of Leasing, elaborates on leasing's role in income growth, negotiation nuances, effects on valuations and financing, and prudent capital allocation.
- ESG Commitment: Liz Firer-Gillespie, Vice President, Asset Management, expands on Nicola Wealth Real Estate’s ESG approach, measurement methodologies, and the positive impact on the three NWRE Limited Partnerships.
- Governance & Investment Committee: Wayman Crosby, Real Estate Investment Committee, Independent Advisor, details deal approval protocols, guidelines adherence, Investment Committee focus points, and the underpinning role of governance.
- Challenges & Opportunities: Alex Messina underscores the interplay of capital constraints, interest rate implications, and the pursuit of operational efficiency.
- Closing Insights: Mark Hannah imparts wisdom on portfolio resilience, meticulous construction, astute debt management, and the invaluable human element.
Explore more about Nicola Wealth Real Estate at nicolawealth.com/real-estate, offering announcements, reports, webinars, and a comprehensive asset report.
Presenters
Mark Hannah, Managing Director of Nicola Wealth Real Estate
Mark is the Managing Director of the real estate division of Nicola Wealth. He started in commercial real estate in 1981 and has over 40 years of experience in the brokerage industry. In 1994, he helped establish the Vancouver office of Avison Young Commercial Real Estate, an employee-owned company that has now grown significantly to a worldwide commercial brokerage company.
https://nicolawealth.com/our-team/mark-hannah
Alex Messina, Vice President, Acquisitions
Alex manages the acquisition of commercial real estate assets for Nicola Wealth. With extensive underwriting and transaction experience, he is responsible for sourcing and negotiating the acquisition of commercial real estate assets, coordinating due diligence, as well as structuring joint venture partnerships. Over his career, Alex has participated in over $5.0 Billion of real estate transactions across North America.
https://nicolawealth.com/our-team/alex-messina
Matthew Schaeffers, Director of Acquisitions
Matthew is responsible for identifying, underwriting and coordinating due diligence of acquisition opportunities for the Nicola Wealth real estate funds. Matthew began his career in commercial real estate brokerage, then worked within institutional commercial real estate investment and management. He brings extensive experience in all asset classes from major and secondary markets within the United States and Canada.
https://nicolawealth.com/our-team/matthew-schaeffers
Shaun Blythen, Director of Acquisitions
Shaun joined Nicola Wealth in January 2016. Prior to joining Nicola Wealth, Shaun worked at an appraisal firm in Downtown Vancouver for seven years. In his appraisal role, Shaun worked on a variety of assignments relating to commercial and residential properties, including office buildings, retail complexes, development sites, single- and multi-family residential projects, assessment appeal negotiations, lease negotiations, and rental studies.
https://nicolawealth.com/our-team/shaun-blythen
Matthew Middleton, Director of Real Estate Debt
Matthew joined Nicola Wealth Real Estate in August 2019 and is responsible for managing the mortgage financing for the real estate funds. Prior to joining Nicola Wealth, Matthew worked at a federal credit union for over seven years most recently in the Commercial Real Estate department. He brings extensive underwriting experience along with a strong record of closing loan transactions across a wide range of asset classes. Matthew has worked with Institutional investors, REIT’s, Private Equity Funds, and Private investors.
https://nicolawealth.com/our-team/matthew-middleton
Josh Anderson, Vice President, Development
Josh works with the firm’s Real Estate Group to oversee the management of development projects, including project feasibility, design & development management, budgeting, entitlements, marketing and construction management. Before joining Nicola Wealth Real Estate, Josh was working for one of Vancouver’s largest development companies, overseeing many of the firm’s residential, office and mixed use development projects in the Lower Mainland.
https://nicolawealth.com/our-team/josh-anderson
Roz McQueen, Director of Leasing
Roz brings with her nearly 20 years of commercial leasing experience. She has had the opportunity to work on over 20M sq. ft. of space in leading markets across North America. Her goal has always been to go beyond the six walls and use real estate as a platform to solve business problems for tenants and reinforce relationships across markets
https://nicolawealth.com/our-team/roz-mcqueen
Liz Firer-Gillespie, Vice President, Asset Management
Liz joined Nicola Wealth Real Estate in 2013 and oversees properties in both Canada and the U.S. She has nearly two decades of experience in real estate management working with international funds and institutional owners. Liz holds an undergraduate degree from the University of Iowa and an MBA from the University of British Columbia.
https://nicolawealth.com/our-team/liz-firer-gillespie
Wayman Crosby, Real Estate Investment Committee
A graduate of UBC in Urban Land Economics in 1978, Wayman has an extensive and successful real estate career. Spanning over 40 years, it encompasses the brokerage, investment, development, finance and management aspects. Wayman was a member of the Management Group at Nicola Wealth Management until 2017. He headed up the real estate division as Managing Partner from 2005 to 2019. Currently, Wayman is a member of the Investment Committee for Nicola Wealth Real Estate. He also serves as a director of the Nicola Wealth Private Giving Foundation and the Nicola Gives Back Charitable Committee.
