Two years after acquiring Toronto-based Blackwood Partners Inc., Nicola Wealth Real Estate is taking the next step in its integration of the firm by rebranding it as Nicola Blackwood Realty Advisors.

Nicola had acquired Blackwood in January of 2021 to bolster its commitment to the institutional investment sector. Prior to the acquisition, Nicola Wealth primarily represented high-net-worth individuals and families.

“Nicola Wealth has two distinct real estate units, the Nicola Wealth Real Estate team and the newly rebranded Nicola Blackwood Realty Advisors team,” Mark Hannah, managing director of Nicola Wealth Real Estate, said in the announcement. “Each team will continue to service their respective clients and funds. 

“However, there is a unique opportunity for collaboration to provide our clients with access to a wider range of asset classes in Canada and the United States.”

Nicola Blackwood has an established team based in Toronto with a track record dating back to 2000. It provides real estate development and asset management services to institutional clients seeking investment opportunities in Canada.

Nicola Wealth's platform

With over $13.7 billion of assets under management, Vancouver-based Nicola Wealth offers a range of investment opportunities in public and private asset classes. Real estate is a significant player in its client portfolios through three evergreen, open-ended limited partnerships.

Its properties span a range of asset classes including industrial, multifamily rental apartment, office, self-storage, retail and seniors housing.

In total, Nicola’s real estate portfolio under management is valued at approximately $8 billion.

When Nicola Wealth acquired Blackwood, Hannah told RENX the two firms would maintain their own branding and some operational independence for a period of time, while they identified synergies and opportunities to integrate and collaborate.

“With the addition of Nicola Blackwood Realty Advisors, our fully integrated real estate platform further underlines our commitment to growing our market presence,” Hannah said in the re-branding announcement. “The collaboration of the two real estate units will enhance the access to what we determine to be quality assets and to service our private clients as well as grow our institutional client base.”

Nicola, Blackwood joint ventures

Nicola Wealth and Nicola Blackwood have already joined forces on a number of transactions.

One of these involves Nicola Wealth entering a joint venture with two Nicola Blackwood institutional clients to acquire a 105-acre industrial development site in King Township, in the northern part of the Greater Toronto Area, that will accommodate 1.7 million square feet of prime industrial distribution space. 

Nicola Blackwood Realty Advisors will serve as the development manager on behalf of the co-owners of this project.

The rebranding suggests the two firms remain on a path for closer integration.

“We believe the opportunity to offer sponsor co-investment will further enhance our ability to attract institutional clients who are seeking goal alignment with their advisor,” said John Hayes, managing director of Nicola Blackwood Realty Advisors, in the announcement.