Noah Rechtsman has joined the company in the position of EVP, private equity. Aly Damji has been promoted to EVP, investments and asset management and Leona Savoie is now senior vice president, development.
The company says that while Hullmark may be best known for identifying, investing in, developing and managing commercial property in urban locations, it also operates a private equity vertical through which it has direct investments in existing development projects with an enterprise value of more than $850 million.
Rechtsman was formerly a senior vice president in Cushman & Wakefield’s Capital Markets Group, where he oversaw transactions of more than $1.5 billion of commercial assets and several million square feet of residential/commercial density. He will lead Hullmark’s private equity and debt verticals and contribute to the overall capitalization of the management platform’s strategic expansion.
“Noah’s distinguished 12-year career in real estate investment sales have positioned him well to lead the growth of Hullmark’s established – yet relatively unknown – private equity and debt verticals,” says Jeff Hull, president of Hullmark.
As a real estate developer and investment firm, Hullmark actively manages a portfolio of retail, office and multi-family rental properties. The company says 10 years ago, it “developed a strategy to invest in urban neighbourhoods within Toronto and to focus on design-led real estate projects that attract and retain users in the new economy.”
“From Parkdale, Liberty Village and Ossington in the west, to Riverside in the east, our approach to asset management, development and the tenant experience has been key to our success,” says Hull, adding that the success of this strategic approach was led by executive team members Aly Damji and Leona Savoie.
“Aly has, and continues to play a vital role in the development of our active platform, sourcing acquisitions together with me, as well as leading the asset management and tenant experience divisions within Hullmark,” says Hull, adding that Leona Savoie has “played an instrumental role in helping deliver our best-in-class developments to market, by leading planning and project management activities at our company.