Real Estate News Exchange (RENX)
c/o Squall Inc.
P.O. Box 1484, Stn. B
Ottawa, Ontario, K1P 5P6
Canada: 1-855-569-6300

People Space: Hoffman hired as CIBC Square GM … and more

David Hoffman is switching downtown Toronto addresses, to become general manager of CIBC Square,...

IMAGE: David Hoffman, the general manager at Toronto's CIBC Square. (Courtesy Ivanhoé Cambridge, Hines)

David Hoffman, the general manager at Toronto’s CIBC Square. (Courtesy Ivanhoé Cambridge, Hines)

David Hoffman is switching downtown Toronto addresses, to become general manager of CIBC Square, the two-tower, 2.9 million-square-foot office campus being developed by Ivanhoé Cambridge and Hines (HIRT).

Prior to joining CIBC Square, Hoffman was GM of the Toronto-Dominion Centre, Canada’s largest business community with over four million square feet. He was responsible for day-to-day operations and a key force behind the sustainable transformation of the centre.

“David’s contributions to the revitalization of TD Centre and its culture have been significant,” said Hines senior managing director and Canadian head Avi Tesciuba in a release. “He has a wide and resourceful perspective on the many issues and opportunities facing property owners and managers.”

Hoffman has 18 years of industry experience.

“David is widely regarded as one the best general managers in Toronto and beyond, and we are lucky to have him lead the operation and management of CIBC Square,” said Jonathan H. Pearce, executive vice-president, leasing, office and industrial, North America for Ivanhoé Cambridge, in the release.

Phase 1 of CIBC Square at 81 Bay St. is scheduled for completion in 2020 and is fully pre-leased. Phase 2 at 141 Bay St., which is 50 per cent pre-leased, will be completed in 2023.

Teresa Neto becomes CFO at Granite

Granite REIT (GRT.UN-T) has appointed former PIRET CFO Teresa Neto as its new chief financial officer effective July 8.

Neto has over 13 years of real estate experience and was previously the CFO at both PIRET and Northwest Healthcare Properties REIT. She has a chartered professional accounting designation and is a member of the Institute of Corporate Directors.

“Teresa is a seasoned and well-respected public REIT CFO and will be a great addition to our  leadership team,” said Kevan Gorrie, president and CEO, in a release. 

Granite owns over 80 industrial, warehouse and logistics properties representing approximately 34 million square feet of leasable area in North America and Europe.

She replaces Ilias Konstantopoulos, who left to pursue other opportunities.

IMAGE: Alfred Buggé is the new executive vice-president, mergers and acquisitions at MACH.

Alfred Buggé is the new executive vice-president, mergers and acquisitions at MACH.

Buggé becomes VP at MACH

Alfred Buggé has been appointed executive vice-president, mergers & acquisitions, by MACH.

Buggé will oversee MACH’s non-real estate strategic expansion, and has already become involved in a major file for the firm. Groupe MACH is in a competitive bidding process for Air Transat.

He was previously a partner at Borden Ladner Gervais LLP and a partner at Blake, Cassels & Graydon LLP where his transactional practice focused on M&A, private equity and corporate finance.

“With over 20 years of experience in mergers and acquisitions, Alfred will significantly contribute to MACH’s strategic diversification of its investment portfolio,” said Vincent Chiara, president of MACH, in the announcement.

Quebec-based MACH has a portfolio of over 30 million square feet of properties and 10 million square feet of land. It includes over 20 properties in development (including Quartier des lumières) in Montréal, Québec City and also in Ontario and in Florida.

Bianconi joins Inside Edge

Inside Edge Properties has appointed Jordan R. Bianconi as vice-president responsible for acquisitions & business development.

He joins IEP with more than 12 years of commercial real estate experience, offering advisory expertise in the office, retail, industrial and land development sectors. He has executed more than $500 million in real estate transactions in the private, institutional and REIT sectors.

Bianconi’s responsibilities will include growing the overall business and real estate portfolio. He will also assist with management of client portfolios, value-add creation, negotiating and closing transactions.

He began his CRE career at Newmark Knight Frank Devencore before moving to Colliers International to become a member of the National Investment Team. In 2016, Bianconi joined Bassi Construction, managing the growth of all service divisions including tenant fit-ups and renovations, building restoration, new construction and additions, and 24-hour emergency disaster services.

Cove names new VP acquisitions

Cove Communities has welcomed Jeff Schwartz as its vice-president of acquisitions. Over his 30-year career, Schwartz has played key roles in over $1 billion of real estate transactions, including the development of single-family and multi-family parcels.

“The addition of Jeff to the Cove Acquisitions Team supports Cove’s focus on aggressively acquiring high-quality MH communities and RV resorts in prime destinations in the U.S. and Canada,” said Cove chairman Dave Napp in a release.

Cove Communities, a REIT founded in 2017, owns and operates 21 manufactured homes and recreational vehicle communities with 6,626 developed sites in Florida, Maine and Canada.

Di Donato becomes Redberry’s director of development

Toronto-based Redberry Group has appointed Rick Di Donato to the new position of director of development. He will be responsible for overseeing new store development and accelerating Redberry’s Canadian expansion strategy.

With over 16 years of experience in retail, Rick is an expert in both full-service and quick-service restaurant real estate.

Prior to joining Redberry, he led the real estate function for Starbucks Coffee Canada, Inc. Before Starbucks, he was director of real estate for Prime Restaurants Inc. and worked a number of years leading new store development at Tim Hortons.

Earlier this year, City Capital Ventures, a private investment partnership headquartered in Chicago, acquired Redberry Group. It plans to accelerate growth for both the Burger King and Pizza Hut brands in Canada.

Founded in 2005, Redberry is one of the largest quick-service restaurant franchisees in North America with 111 Burger Kings and 23 Pizza Huts.

Brian Mackenzie hired at NAI Vancouver

Global CRE brokerage firm NAI Commercial has hired Brian Mackenzie as vice-president of leasing and sales at its Vancouver office.

“We are delighted to welcome Brian to NAI Commercial. Brian adds an exciting dimension of experience and market connectivity to our business.” said managing partner, Rob DesBrisay in the announcement.

Mackenzie has over 30 years of experience, particularly in leasing and owner-occupier sales in the Metro Vancouver market. He joins NAI Commercial from Colliers, where he was responsible for thousands of transactions.

Lassonde retiring from Fronsac board

Michel Lassonde has informed Fronsac REIT (FRO.UN-X) this will be his final year as chairman of the board of trustees. Lassonde served as Fronsac’s president and CEO for six years, from his appointment in 2011 until 2017.

A former lawyer and judge in Quebec, Lassonde was one of the REIT’s co-founders.

“After 12 years as a trustee and chairman of the board, I have achieved my objectives alongside the co-founders of Fronsac,” Lassonde said in a prepared statement.

Riggin departs Skyline Investments

Skyline Investments (TASE: SKLN) says former COO Bruce Riggin left the company on June 1 to pursue other opportunities.

Skyline specializes in hospitality real estate investments in Canada and the U.S. The company owns 18 assets in 18 Canadian and the U.S. cities, with 3,219 hotel rooms under management.

It also owns development lands with rights for almost 2,315 residential units in three areas north of Toronto.

Industry Events