- Mr. Ward's international development experience and tenure with
Grosvenor extends 20+ years
- Now oversees C$1.5bn in value
across active projects within Grosvenor's Structured Development
Finance business in North
America
- Will lead the overall growth and strategy of Programme
investing in for-sale and rental residential developments
VANCOUVER, BC, Sept. 13,
2024 /PRNewswire/ -- Grosvenor, an international
property owner and developer with a 70+-year track record in
North America, has announced
Michael Ward as Managing Director,
Co-Investment. Based in Vancouver,
BC, Michael will lead the company's Structured Development
Finance (SDF) Programme which supplements Grosvenor's core urban
property development and investment activities in the US and
Canada by providing capital to
leading residential developers in its chosen markets.
With 20+ years of experience in property development, Michael
has been directly involved in the delivery of 14 mixed-use and
residential projects throughout North
America. Most of these projects involved partnerships with
large institutional Canadian pension funds, family offices and
high-net-worth individuals. Michael's most recent role at Grosvenor
involved guiding the strategic direction of the firm's Vancouver development programme valued at
CAD$5.3bn and advancing capital
partner relationships.
Jamie Delmotte, Chief
Co-Investment Officer for Grosvenor's North American property
business said, "Not only does Michael's new role and
responsibility reflect Grosvenor's commitment to internal
promotion, but his movement into SDF is also a natural progression
given his vast industry experience, relationships and market
knowledge. His work establishing and building partnerships has been
vital to our growth to date and I look forward to what the future
holds for the Programme under his leadership."
Michael Ward
added: "Being on the Development side of our
business for over two decades, I value the opportunity to lead this
important business line and feel well-suited to the task – working
with our developer partners to ensure the delivery of best-in-class
properties across our key markets and leading a team of
professionals to outperform return expectations for our
partners."
Michael joined Grosvenor's Vancouver office in 2002 following an
internship he completed the year before. He held a succession of
development roles in the firm's Washington, D.C. and Calgary offices before returning
to Vancouver in 2014. Here he expanded the development team
and oversaw notable projects including the delivery of the
multi-award-winning Grosvenor Ambleside, Connaught and The Pacific. Michael also
held the role of General Manager of Grosvenor's Vancouver office between 2014 – 2022.
The SDF Programme, which operates from Grosvenor and partner
capital, is actively fund raising for the fourth iteration of the
True North partnership, timed to take advantage of the current
dislocation in core gateway markets where Grosvenor is active. The
Programme seeks opportunities to work with developers on the new
construction of mixed-use developments, apartments, condominiums,
and townhomes located in Vancouver, Toronto, California, Washington, D.C., and Seattle.
Grosvenor established the SDF Programme nearly 25 years ago to
help address the structural shortage in supply of quality urban
infill housing in gateway cities in the US and Canada. Since 2000, the SDF business has acted
as a capital provider to 79 residential development projects with
9,500+ residential units. Lending over $625m to-date, Grosvenor's SDF projects represent
$5bn in gross development value.
Michael will manage a team of 7 professionals who are based in
Grosvenor's Vancouver, BC,
San Francisco and Washington, D.C. offices. Educated at the
University of British Columbia, Michael
is a member of the Urban Land Institute (ULI) and is a 'Business in
Vancouver 40 Under Forty'
recipient. He has also been involved with numerous community
organizations in Vancouver
providing advice as to their real estate needs and participating in
the selection of recipients for the Coast Mental Health - Courage
to Come Back Awards.
About Grosvenor
Grosvenor has operated a diversified
real estate business in North
America since 1952. We focus on vibrant urban locations,
making a positive difference to local neighbourhoods and
communities.
As of December 31, 2023, we had
assets under management of US$3.8bn/C$5.0bn,
including 71 high-quality properties, and is executing on a
US$4.9bn/C$6.5bn development pipeline across its active
markets. Consistent with the firm's farsighted approach to
ownership and development, we value long-term partnerships; across
our nine active capital partners, the average relationship is 18
years.
Follow us on
LinkedIn: Grosvenor
Instagram: ThisisGrosvenor
For more information, please contact:
Great Ink
Communications
Tom Nolan, Eric Waters
+1 212-741-2977
383224@email4pr.com
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SOURCE Grosvenor