real estate transactions financed
Tricon’s business objective is to invest for investment income and capital appreciation through its principal investment business segments and to earn fee income through its private funds and advisory business.learn more
Gary Berman is responsible for Tricon’s overall operations including strategic planning, investment decisions, capital commitments, relationship management and private fundraising. Since joining Tricon in 2002, Mr. Berman has helped transform Tricon from a private provider of equity and mezzanine capital to the for-sale housing industry to a publicly-listed company with multiple residential business lines. Under his leadership, Tricon has established itself as a diversified “housing brand” with a growing portfolio of investments in single-family rental homes, multi-family development projects and for-sale housing assets. Mr. Berman is a member of the Board of Directors and a member of the Company’s Investment Committee and Executive Committee.
Mr. Berman is a Trustee of the Urban Land Institute and serves on the Board of Governors of the Corporation of Massey Hall and Roy Thomson Hall. He is the co-founder of the Pug Awards, an online awards and education-based charity that, over a decade, helped to increase architectural awareness and elevate planning and design standards in Toronto.
Mr. Berman holds a Master of Business Administration degree from Harvard Business School, where he was designated a Baker Scholar, and a Bachelor of Commerce degree from McGill University, where he graduated first overall in the Faculty of Management.
Wissam Francis oversees all aspects of Tricon’s financial management including financial reporting and analysis, treasury, capital market strategies, investor relations, information technology, internal audit and tax functions.
Mr. Francis has extensive experience in financial reporting, capital markets, mergers and acquisitions, corporate finance, and strategy formulation, with over 15 years of experience in real estate, and has been actively involved in various projects and sectors, including residential, retail, industrial, office, mixed-use and development projects.
Prior to joining Tricon in 2014, Mr. Francis was a senior member of Ernst & Young’s Transaction Real Estate advisory practice. Prior to that, he was the Director of Finance and Acquisitions at First Capital Realty. Mr. Francis has a CPA, CMA designation and holds a Master of Business Administration degree from Wilfrid Laurier University, a Master of Arts degree in Economics from the University of Waterloo, a Bachelor of Arts degree in Finance, and an Honours Degree in Economics from the University of Western Ontario.
David Berman has been involved in all phases of Tricon’s development since co-founding the Company in 1988. He served as the Company’s Chairman and Chief Executive Officer until March, 2015 and has since assumed the role of Executive Chairman. Mr. Berman is a member of Tricon’s Executive Committee and Chair of its Investment Committee. He has over 40 years of experience in the real estate industry in the United States, Canada and abroad.
Mr. Berman began his career in North America in 1978 at what is now Citibank Canada where he was Vice President for real estate lending. In 1982, he joined First City Development Corporation as Vice President, with responsibility for real estate acquisitions and equity lending. Prior to co-founding Tricon, Mr. Berman acted as Executive Vice President for Lakeview Estates Limited, where he was responsible for land development and single-family homebuilding.
Mr. Berman is a member of the real estate advisory board for the University of Toronto. He previously held a similar position at the Fisher Center at the University of California, Berkeley. He is also a member of the board of directors of the Royal Conservatory of Music in Toronto.
Mr. Berman holds a Master of Business Administration degree (graduating with high distinction) and a Bachelor of Science degree from the University of the Witwatersrand in Johannesburg, South Africa.
Geoff Matus co-founded Tricon in 1988 and continues to provide consulting services to Tricon. He is a member of the Board of Directors, chairs the Executive Committee, and is a member of Tricon’s Investment Committee.
Mr. Matus is the Chair and co-founder of Cidel, an international financial services group. He is a past member of the board of Mount Sinai Hospital (where he currently serves on the Research Advisory Committee), the board of Governing Council of the University of Toronto (where he currently chairs the Pension and Endowment Investment Advisory Committee and the Real Estate Committee), and the Canadian Opera Company. He is a director of the MaRS Discovery District (where he is Chair of the Real Estate Committee), and an honorary director and past Chair of the board of directors of the Baycrest Centre for Geriatric Care. He is the honorary Chair of the Hospital for Sick Kids / Nelson Mandela Children’s Hospital Project. Mr. Matus has founded several other companies and remains a director of some of them.
In 2005, Mr. Matus was a recipient of the Jewish Federation award for outstanding service to his community. In 2010 he received the Arbor Award for outstanding service to the University of Toronto and in 2011, he was honoured as a “Man of Distinction” by the Israel Cancer Research Fund.
Mr. Matus holds Bachelor of Commerce and Law degrees from the University of the Witwatersrand in Johannesburg, South Africa, and received a Master of Laws degree from Columbia University in New York. In 2018 the University of Toronto conferred on Mr. Matus an honorary Doctor of Laws degree.
Saul Shulman has been a Member of Tricon’s Investment Committee since the formation of the Company in 1988. Mr. Shulman also served as a Director of Tricon from its formation until May 2010.
Mr. Shulman was formerly a senior partner at Goodman and Carr LLP for almost 40 years, and has extensive legal experience in evaluating and structuring real estate transactions in North American and international markets. He is currently the Chief Executive Officer of MLG Management Inc., a director, member of the audit committee and chair of the governance committee of Acadian Timber Corp., a trustee of Summit Industrial Income REIT, where he serves on the audit committee and is the chair of its governance committee and a director, member of the audit committee and chair of the governance committee of Brookfield Office Properties Inc. His previous directorships and trusteeships include: Brookfield Renewable Power Inc., Brookfield Renewable Power Trust, Brookfield Asset Management, Summit Real Estate Investment Trust, Trizec Corporation Ltd., Edper Investments, JDS Investments Limited and Triumph Energy, as well as a number of private companies.
Mr. Shulman holds a Bachelor of Commerce degree from the University of Windsor. He graduated from Osgoode Hall Law School in Toronto, and was called to the Ontario Bar in 1965. Mr. Shulman was appointed as Queen’s Counsel in 1984.
Jonathan Ellenzweig currently serves as co-head of Tricon Housing Partners, the Company’s dedicated land and homebuilding finance vertical, as well as oversees the strategic direction of Tricon American Homes, Tricon’s U.S. single-family rental home platform. In both of these roles, Mr. Ellenzweig designs and implements strategy, manages senior relationships with key stakeholders, sources investment opportunities and oversees dedicated teams responsible for business plan execution, operations and asset management. Since joining Tricon in 2005, Mr. Ellenzweig has been an integral part of many of the Company’s defining strategic initiatives, including Tricon’s IPO in 2010 and the launch of Tricon American Homes in 2012, a business he ran day-to-day through mid-2015. Mr. Ellenzweig is also responsible for managing Tricon’s San Francisco office, which he helped open in 2013 to expand Tricon’s west coast presence.
Prior to joining Tricon in 2005, Mr. Ellenzweig worked in investment banking in New York and Toronto for Citigroup Global Markets, where he was a member of the coverage and transaction execution teams for financial services and media / telecom companies.
Mr. Ellenzweig holds an Honours Bachelor of Commerce degree and was awarded First Class Honours from Queen’s University. He currently serves as a member of the Policy Advisory Board for the Fisher Center for Real Estate and Urban Economics at the University of California, Berkeley, is a member of the Residential Neighborhood Development Council of the Urban Land Institute and serves on the Board of Directors of the Lark Theater, a nonprofit single-screen community film center in Marin County, California.
Andy Carmody serves as co-head of Tricon Housing Partners, the Company’s land and homebuilding vertical. In this role, Mr. Carmody designs and implements strategy, manages senior relationships with key stakeholders, sources investment opportunities and oversees the investment team responsible for business plan execution and asset management. He is also responsible for overseeing Tricon’s master planned community development platform operated through the Johnson Companies LP.
Mr. Carmody has extensive experience in the acquisition, planning, development and asset management of large-scale master planned and mixed-use communities, and has over 20 years of diverse experience in real estate, business strategy, new business development, product development, marketing, manufacturing, and operations across a wide range of industries.
Prior to joining Tricon in 2017, Mr. Carmody was President, Residential at Crescent Communities where he led all aspects of business strategy, acquisitions, entitlements, planning & design, development & construction, asset management, and operations across a portfolio of 18 master-planned communities. Prior to that, Mr. Carmody was Senior Vice President at Kitson & Partners responsible for investment strategy, land acquisition, and early-stage investment management for an institutionally-backed real estate investment platform. He has also held roles as a Director of Strategic and Operational Marketing at Centex Homes and as an Engagement Manager at McKinsey & Company, a global management consulting firm. Mr. Carmody has significant technical experience in a variety of engineering roles including prior work as an Engineering Specialist at The Boeing Company and Plant Manager at Amerigon, Inc.
Mr. Carmody holds a Master of Business Administration degree from Harvard Business School, and a Bachelor of Engineering degree from the University of Michigan. He currently is a member of the Community Development Council of the Urban Land Institute.
Andrew Joyner serves as Head of Tricon Lifestyle Rentals, Tricon’s vertically integrated platform focused on Class A purpose-built rental apartments. Mr. Joyner is responsible for all aspects of the day-to-day divisional operations, including transaction sourcing, financing, investor reporting, and overall asset management.
Prior to joining Tricon in 2016, Mr. Joyner worked at CPP Investment Board (CPPIB) in Toronto with a focus on real estate investments throughout North America. Previously, Mr. Joyner worked at Hines in London, U.K where he was responsible for acquisitions in Western Europe, and worked in investment banking at Goldman Sachs in New York.
Mr. Joyner holds a Master of Business Administration degree from Columbia University, an undergraduate degree in Economics from Queen’s University, from both of which he graduated with Distinction, and is a CFA Charterholder.
Kevin Baldridge is President of Tricon American Homes (“TAH”). In his role, Kevin leads the company’s acquisitions, renovations and daily operating activities. Kevin is part of Tricon’s key management team that establishes strategic direction for TAH.
Prior to joining TAH in May 2015, Mr. Baldridge served as President of Irvine Company Apartment Communities, overseeing all property operations, asset management, reinvestment and acquisitions. Prior to his time with the Irvine Company, Mr. Baldridge served as SVP for General Investment and Development in Boston.
Mr. Baldridge serves on the board of directors of the National Rental Housing Council and Families Forward, an Orange County charity which helps displaced families find homes and re-establish self-sufficiency. He also held board positions on the National Multifamily Housing Council, the California Apartment Association, Serving People In Need, and JSerra High School.
Mr. Baldridge holds a degree in Economics from the University of California, Los Angeles (UCLA) and a Masters of Science in Finance and Accounting from the London School of Economics (LSE).
Andrew Gray is the President of Tricon Development Group (TDG), Tricon’s wholly-owned subsidiary that serves as the principal developer for Tricon Lifestyle Rentals purpose-built rental apartment buildings. In his role, Andrew leads development and construction activities.
Prior to joining Tricon in 2018, Mr. Gray served as Head of Eastern Canada at Concert Properties, overseeing development high-rise purpose-built rental apartment and condominium projects. Previously, Mr. Gray was Vice President, Development at Waterfront Toronto, where he was responsible for Toronto’s East Bayfront redevelopment and at Tribute Communities, where he developed several large scale master planned communities in the Greater Toronto Area. Mr. Gray is a former member of the Board of Directors of the Building Industry and Land Development (BILD) Association.
Mr. Gray holds a Master of Business Administration degree from the University of Toronto, a Masters of Urban and Regional Planning from Queen’s University, and an undergraduate degree in Urban Geography & Economics from the University of Toronto.
David Veneziano is responsible for managing all legal and governance matters relating to Tricon. Mr. Veneziano advises on legal issues relating to all aspects of the Company’s investments and asset management, corporate structuring and finance, compliance and corporate governance. He is also Tricon’s Corporate Secretary and its Chief Compliance Officer.
Prior to joining Tricon in 2014, Mr. Veneziano served as Vice President and General Counsel of Leisureworld Senior Care Corporation (now Sienna Senior Living), where he was responsible for all legal and governance matters relating to the company. Prior to joining Leisureworld, Mr. Veneziano practiced law at Goodmans LLP, where he advised a wide array of public and private enterprises in matters relating to tax, mergers and acquisitions, corporate finance, compliance and restructuring.
Mr. Veneziano is a graduate of the University of Toronto Law School and holds a Bachelor of Science (Honours) degree in Human Biology and Bioethics from the University of Toronto, where he graduated with High Distinction.
Douglas Quesnel is responsible for all aspects of Tricon’s financial management, including external public reporting, private funds and advisory reporting, and investment fund administration.
Prior to joining Tricon in 2014, Mr. Quesnel served in senior executive roles with Dream Unlimited, including Chief Accounting Officer and Chief Financial Officer of Dream Global REIT, and Chief Financial Officer of Dream Unlimited Corp., where he was responsible for business planning and analysis, investor relations, financial reporting, debt and equity financing and tax planning.
Mr. Quesnel has a CPA, CA designation and holds a Graduate Diploma in Public Accountancy from McGill University and a Bachelor of Commerce degree from Concordia University.
Evelyne Dubé is a Managing Director at Tricon focused on business development and private capital fundraising.
Prior to joining Tricon, Ms Dubé spent 15 years in London, UK, where she held senior business development positions at private equity real estate managers Forum Global Partners, Apollo Management/Citi Property Investors, and Curzon Global Partners/AEW Europe. She also previously held corporate finance advisory roles at KPMG Corporate Finance in London and Montreal. She currently serves as a board member of the Academy of St Martin in the Fields in London, UK.
Ms Dubé holds a Masters in Business Administration (MBA) from HEC-Montréal and a Bachelor of Laws (LL.B.) from Université de Montréal. She has also studied at the London Business School in the UK and is a member of the Bar of Quebec, Canada.
Wojtek Nowak is responsible for managing Tricon’s corporate finance and investor relations functions, including budgeting and forecasting, management reporting and analysis, and investor communications.
Mr. Nowak has over ten years of experience in equity research, covering real estate and diversified industries, as well as prior experience in asset management and investment banking. Prior to joining Tricon in 2015, he was most recently Managing Director, Research at AltaCorp Capital.
Mr. Nowak holds an Honours Business Administration degree from the Richard Ivey School of Business at the University of Western Ontario, where he was a Dean’s List graduate. He also holds a Chartered Financial Analyst designation.
Julie Burdick serves as Vice President of Tricon Capital Group, with a focus on Tricon Housing Partners. In her role, she leads the underwriting and asset management of THP investments located in the western U.S. and assists with other new investment initiatives.
Prior to joining Tricon, Ms Burdick was Vice President, Multi-Family Investments with Shorenstein Properties, overseeing the planning and development of apartment buildings in Northern California and New York. Previously, Ms Burdick worked on investment sales in Eastdil Secured’s San Francisco office and was an acquisitions and asset management associate with Crow Holdings in Dallas, where her portfolio included select master planned communities.
Ms Burdick holds a Bachelor of Business Administration degree from Southern Methodist University in Dallas, Texas.
Rick Timmins is responsible for providing strategic oversight and day-to-day investment management for Tricon American Homes, including execution of corporate initiatives and coordination of efforts between TAH and Tricon Capital. Mr. Timmins also sources and underwrites new for-sale housing and multifamily opportunities in the western U.S. as well as manages a portfolio of for-sale housing development investments in California and Arizona.
Prior to joining Tricon in 2015, Mr. Timmins worked at Rockwood Capital, a real estate investment manager, focusing on acquisitions and asset management for west coast investments, and previously was at Bank of America Merrill Lynch in the real estate investment banking group.
Mr. Timmins attended the University of Southern California and graduated magna cum laude with a Bachelor of Science degree in Business Administration and a concentration in finance.
J. Kiel O’Sullivan is responsible for sourcing, underwriting and managing new and existing investments for Tricon Housing Partners, with a geographic focus on Houston, Dallas and Toronto, Canada. He is also responsible for managing Tricon’s corporate investment in The Johnson Companies LP.
Prior to joining Tricon in 2010, Mr. O’Sullivan worked in investment banking in Toronto for TD Securities, where he was a member of the real estate, gaming and lodging team.
Mr. O’Sullivan holds a Master of Business Administration degree from Columbia Business School and a Bachelor of Business Administration from the Schulich School of the Business at York University.
Alan Leela is responsible for sourcing, underwriting and managing new and existing investments for Tricon Lifestyle Rentals and managing existing investments in Calgary for Tricon Housing Partners.
Prior to joining Tricon in 2012, Mr. Leela worked in the investment banking division at Credit Suisse in Los Angeles and Toronto.
Mr. Leela holds an Honours Bachelor of Arts from the Richard Ivey School of Business where he graduated with Distinction.
Sandra Pereira is responsible for the Company’s global tax function, including strategy, planning, reporting, governance, and compliance tax matters. Ms. Pereira has over 20 years of experience in international tax, structured transactions, capital markets, derivative products, acquisitions and divestitures.
Prior to joining Tricon in 2014, Ms. Pereira was a Tax Partner at the Toronto office of Deloitte Canada where she led the post-merger integration practice in Canada. She was responsible for advising global clients on operational tax issues, such as improving tax governance, transforming the tax function, and optimizing the tax benefits of business synergies arising from strategic acquisitions. Ms. Pereira was previously a Tax Director at GE Capital Canada and, over her 15 years at GE, led numerous acquisitions and corporate initiatives. She is currently a Board member of the Trillium Health Partners Volunteer Board.
Ms. Pereira has a CPA, CA designation and holds a Bachelor of Commerce degree from the University of Toronto (gold medalist). She has completed the leadership training program at GE’s John F. Welch Leadership Development Center in New York and was an Adjunct Professor at the University of Toronto Masters of Tax program.
David Mark is responsible for the Company’s corporate and project-level financing in the U.S. and Canada, including managing the origination, structuring, and execution of debt solutions.
Mr. Mark has broad experience in the commercial real estate sector, with extensive leadership in real estate lending. Most recently he served as Chief Risk Officer at GE Capital Real Estate in Canada and was responsible for vetting, approving, and negotiating debt and equity real estate transactions. While at GE Capital, Mr. Mark also served as a Trustee and Investment Sub-Committee member of the Canadian GE Pension Fund. Prior to joining GE Capital in 2002, Mr. Mark was an appraiser and consultant for Arthur Andersen in New York City, as well as at Richard Ellis and Royal LePage in Toronto.
Mr. Mark holds an Honours Business Administration degree from the Richard Ivey School of Business at the University of Western Ontario. He also holds the AACI, MAI, and MRICS professional appraisal designations.
Gina McMullan is responsible for overseeing the corporate accounting and overall quality of financial reporting. This includes regulatory public reporting and various aspects of private reporting, including management analysis.
Prior to joining Tricon in 2016, Ms. McMullan was a senior member of the PwC LLP assurance practice where she spent over 10 years servicing many companies in real estate, retail, media and technology sectors. She has an in-depth understanding of IFRS and U.S. GAAP and extensive experience with M&A accounting.
Ms. McMullan has a CPA, CA designation and attended the business school at Rutgers University in the U.S. and holds a Bachelor of Commerce degree in accounting from Ryerson University in Canada.
Siân Matthews is a corporate director. Until 2009, she was a partner and head of the Private Services Group at Bennett Jones LLP, and she began her legal career at Macleod Dixon LLP in Calgary.
Ms. Matthews is also a director of Cidel Bank Canada, a director of The Calgary Foundation, a director of the Southern Alberta Opera Association, a past director and Chair of the Governance Committee of the Calgary Municipal Lands Corporation, a past director and Chair of the Governance Committee of the Heritage Park Society, and a past director of the Calgary Opera Association. She is also a director of several private corporations.
Ms. Matthews is the past Chairperson of Canada Post Corporation, where she had also been the Chair of the Strategic Initiatives Oversight Committee, the Chair of the Corporate Social Responsibility and Environmental Risks Committee, and a member of the Audit Committee, Governance Committee, Human Resources Committee and Pension Committee.
Ms. Matthews has nationally-recognized legal expertise in the areas of taxation and governance, and has been distinguished by her peers by inclusion on the Best Lawyers in Canada and the Lexpert Leading Practitioners lists. She is a member of the Law Society of Alberta, holds a Bachelor of Arts degree from the University of Waterloo, a Juris Doctor degree from the University of Ottawa, and an ICD.D designation.
Michael Knowlton retired from Dundee Realty Corporation in 2011, where he held the position of President and COO of Dundee Real Estate Investment Trust. He joined Dundee Realty in 1998, holding various positions with Dundee Realty and Dundee Real Estate Investment Trust including Executive Vice President and COO, Executive Vice President and CFO and Managing Director Limited Partnerships, before becoming President of the REIT in 2006. Prior to that, he worked at OMERS Realty Corp. from 1990 until 1998 as Senior Vice President and CFO.
Mr. Knowlton currently serves as a trustee and chair of Crombie Real Estate Investment Trust (TSX: CRR.UN), is a former trustee and member of the audit committees and governance committees of Dream Industrial Real Estate Investment Trust (TSX: DIR.UN) and Dream Global Real Estate Investment Trust (TSX: DRG.UN), and a former member of the board of trustees for True North Apartment Real Estate Investment Trust and Northwest Healthcare Properties Real Estate Investment Trust.
Mr. Knowlton holds Bachelor of Science (Engineering) and Master of Business Administration degrees from Queen’s University in Kingston, Ontario. He is a Chartered Accountant and holds an ICD.D designation.
Peter Sacks (B.Comm., CA) retired as the founding partner of Cidel Asset Management Inc., now part of Cidel – a Canadian Private Bank. His experience in Wealth Management followed an extensive career in banking where he held executive positions in Treasury Management with CIBC, Chase Manhattan Bank Canada and Midland Bank Canada.
Mr. Sacks remains an independent director/trustee of several U.S. publicly traded closed-end and open-end funds managed by Standard Life Aberdeen Plc. Past directorships include Kinross Mortgage Corporation Ltd., CIBC Trust Company Ltd., CIBC Limited, and Horizons BetaPro ETFs. He also served on the Investment Advisory Committee of the Ontario Public Guardian & Trustee and was Chair of the Independent Review Committee of Children’s Education Funds Inc. His community service has included directorships in Young People’s Theatre, Childhood Now and TSCC 1849.
Ira Gluskin, a well-known industry commentator, is the co-founder and an honorary lifetime Director of Gluskin Sheff + Associates Inc., one of Canada’s pre-eminent wealth management firms. He served as the firm’s President and Chief Investment Officer through December 31, 2009, and as a Director and the firm’s Vice-Chairman through December 18, 2013.
He is a member of the Advisory Board of Vision Capital Corporation and Capitalize for Kids and is on the University of Toronto’s Real Estate Advisory Committee, the University of Toronto’s Boundless Campaign Executive Committee, the Sinai Health System’s Board of Directors and Investment Committee as well as the Boards of the Canadian Jewish News, The Walrus Magazine and the National Theatre School of Canada. Mr. Gluskin is also the former Chair of the University of Toronto Asset Management Corporation and the former Chair of the Investment Advisory Committee for the Jewish Foundation of Greater Toronto and is currently a member of its Investment Committee.
Camille Douglas is a senior executive in the real estate industry with over 30 years’ experience in real estate development and finance, executing real estate transactions and financial strategy. Her work has included corporate and project-based acquisitions, dispositions and financing, including pioneering work on commercial mortgage backed securities and cross border equity investment.
Ms. Douglas is currently a Senior Managing Director, Acquisitions and Capital Markets, at LeFrak, a real estate investment and development company. Since joining the firm in January 2010, she has been responsible for strategic real estate acquisitions and development outside New York and led the company’s expansion into the Miami market in 2011 after focusing on the UK in 2010-2011.
Ms. Douglas is also a member of the Real Estate Advisory Committee of the New York State Common Retirement Fund and serves on the Board of Trustees of Starwood Property Trust, where she is a member of the Audit Committee. In addition, she is an Adjunct Professor in Finance and Economics at Columbia Business School. She received her Master of Urban Planning degree from Harvard University Graduate School of Design, and also holds a Bachelor of Arts degree from Smith College.
Tracy Sherren joined Starlight Group Property Holdings Inc. (“Starlight”), a real estate and investment company, in October 2012 as the Chief Financial Officer of True North Commercial REIT (TSX: TNT.UN) and became Chief Financial Officer of Starlight in May 2016 and Group Head, Commercial in October 2017. Prior to joining Starlight, Tracy was the Chief Financial Officer of Pacrim Hospitality Services Inc. from January 2005 to September 2012 and the Chief Financial Officer of Holloway Lodging Corp. (TSX: HLR.UN) from its inception in 2005 until July 2011, where she was responsible for construction and long-term financing of commercial properties, operations management, financial reporting, investor relations and corporate tax planning.
With over 25 years of experience, Ms. Sherren has participated in over $1 billion of financings and led asset management teams, acquisition due diligence, real estate development and has extensive experience in transaction structuring and risk management. Ms. Sherren is a Chartered Accountant and obtained her Bachelor of Business Administration from Acadia University.
real estate transactions financed