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KingSett shuffles executives as Joe Mazzocco departs

KingSett Capital announced several major changes to its leadership team on Wednesday, including t...

KingSett Capital announced several major changes to its leadership team on Wednesday, including the departure of executive managing director Joe Mazzocco.

KingSett Capital logo.In a post on LinkedIn, KingSett CEO Jon Love announced Mazzocco will be leaving the company. KingSett is Canada’s  leading private equity real estate business.

“Joe has been with KingSett for nearly 13 years, the last seven as a partner, has been a key team member in building KingSett and will be sorely missed,” wrote Love in his post.

“Joe shared with me that after considerable reflection, he is now looking for a new chapter in his life after having contributed for a number of years to the growth of KingSett.

“These are never easy decisions, and I wish him every continued success in what the future brings.”

Before joining KingSett in 2005, Mazzocco was a director with CIBC Capital Markets from 1999 until his move to the private equity real estate company. From 1996 to 1999, he was a vice-president at RealNet Canada Inc. and from 1993 to 1996, he was a real estate appraiser with Morassutti Group Appraisal.

Mazzocco has a Bachelor of Arts – BA, Economics from Western University and a Master of Business Administration – MBA, Real Estate from the Schulich School of Business at York University.

In his LinkedIn post, Love also announced two organizational changes to the KingSett leadership team.

New roles for Kumer, Coates

“Rob Kumer shall assume sole responsibility for the Investment Group as chief investment officer. Reporting to Rob will be the full investment team as well as Scott Coates as leader of the Mortgage Team,” wrote Love.

“In recognition of the important role of the mortgage team, Scott Coates will also be joining the Executive Committee . . . The role of the Executive Committee is to set the strategic direction of KingSett.”

According to KingSett, Coates has been managing director since 2006. He leads KingSett’s national commercial and residential mortgage lending business.

Prior to KingSett, Coates held progressive positions with The Toronto-Dominion Bank, Scotiabank, Sun Life Financial, MCAP Financial and Trez Capital. He has more than 25 years of experience related to senior and subordinate mortgage lending including land, construction and income-producing property financing; loan syndication; whole loan sales; loan securitization; and general corporate finance.

Coates is a graduate of the Schulich School of Business at York University with a Bachelor of Business Administration Degree.

Kumer joined KingSett in 2004. As executive managing director, he leads the investments team which sources, underwrites and structures investment transactions for KingSett’s various equity strategies.

In addition, Kumer serves as fund manager for KingSett’s Growth Funds and Urban Fund businesses. Kumer has overseen transactions in all real estate asset classes, capital markets and joint-venture structures in markets across Canada. He holds a degree in Honours Business Administration from the Richard Ivey School of Business at the University of Western Ontario.

KingSett manages $13B portfolio

KingSett manages assets of $11 billion in a $13-billion portfolio. KingSett co-invests with institutional and high-net-worth individuals, using active management to deliver premium risk-weighted returns. KingSett invests through its growth, income and mortgage funds.

“KingSett has a robust development program executing mixed-use, residential, retail, commercial and industrial development projects in major urban centres across Canada,” says the company on its website.

There is $1.4 billion in completed development and more than $2.9 billion in the development pipeline. Featured developments in Toronto include Two St. Thomas, 37 Yorkville, YC Condos and Yonge Sheppard Centre.

It has extensive office, retail, residential, industrial and hotel assets.

The office portfolio has featured properties in Toronto that include 130 Bloor Street West, 700 University Ave., 2 Bloor West and Scotia Plaza.

Assets include Eglinton Square

Featured retail assets include the Bayshore Shopping Centre in Ottawa, the Cornwall Centre in Regina, the Aberdeen Mall in Kamloops and Eglinton Square in Toronto.

Its multi-family residential portfolio includes more than 3,700 units in major urban centres across Canada. Featured residential properties include The Lex in Vancouver, Cherryhill Villagein London, Grid 5 in Calgary and Kanata Lakes in Ottawa.

Featured industrial assets include 1802 Centre Avenue in Calgary, 6020 20th Street in Edmonton and 185 William Smith Drive and 1602 Tricont in Whitby, Ont.

Major hotel properties include the Fairmont Royal York hotel and the Courtyard Marriott, both in Toronto.

RENX has reached out to KingSett for further comment for this story, but as of publication time has not received a reply.


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