An Entrepreneurial Company in an Institutional Market
Special Supplement to Canadian Property Management
MARKET LEADERSHIP REDEFINED. CBRE congratulates Redbourne for their bold moves, strategic acquisitions and service excellence. We wish Redbourne continued success across the marketplace.
www.cbre.ca
REDBOURNE REALTY ADVISORS An Entrepreneurial Company in an Institutional Market
It’s been over 20 years since Peter Coughlin and Norman Spencer first turned on the lights at Redbourne Realty Advisors’ Montreal headquarters in 1995. In the decades since, the property management duo have grown their company into one of Montreal’s largest landlords of Class-A office properties and are a flourishing player in the Toronto market. “Norman and Peter saw opportunity in the Montreal market when few others did,” reflects Allan Taylor, Executive Vice President with Rebourne. “Their vision and creativity for value creation is incredible, and they have created a corporate culture that allows employees to learn from them and be empowered to make decisions.” This culture has been the foundation for Redbourne’s evolution and ongoing success. In addition to investing in commercial properties in the mid-1990s, the company leveraged joint partnerships with financial institutions and high net worth individuals across North America between 1995 and 2004 to purchase several Class AA buildings in Montreal, some of which remain in its portfolio to this day. In 2005, Redbourne parlayed its reputation into the creation of the first of three private real estate investment funds. “These funds are made up of investors representing Canadian pension funds, financial institutions, and some of Montreal’s high net worth individuals,” says Spencer. “Throughout the creation of each fund, our mandate was to acquire strategic properties in both Quebec and Ontario, and that’s exactly what we did.” In 2006, the company made its move on the Toronto market. It opened a new office in the city and purchased its first property within
the region, a 200,000 sq. ft. property at 5500 North Service Road in Burlington – the first of many stand-out properties it would add to its Ontario portfolio.
Quebec and Ontario. Redbourne’s 70-plus staff manage approximately 4 million square feet of real estate valued at approximately $1 billion.
Shortly after buying Burlington, another path opened. “We saw an opportunity to make a three-asset purchase at 95/105 Moatfield and 225 Duncan Mill Road in Toronto and I really believe that’s what put Redbourne on the map in Ontario,” recalls Boon Khaw, Executive Vice President, who joined Redbourne in 2005.
Yet while the company takes pride in how far it’s come, it is prouder still of its ability to do so while maintaining the same culture of customer care, creativity, and value creation that the Redbourne name has stood for since Norman and Peter first set up shop. “From day one, our philosophy has been to treat our tenants as customers and provide a professional property that allows their business to succeed,” says Coughlin. “That’s the approach that has made us the company we are today, and the one we always carry forward into new opportunities.”
Ten years later, Redbourne’s momentum is still going strong. Today, it provides a full suite of property management and asset management services specializing in office, industrial, and retail management in
GOOD REAL ESTATE Throughout the years, Redbourne has been proud to name real estate industry leaders as current and past tenants within its buildings. These include CBRE, Colliers International, Cushman & Wakefield, Lennard Commercial Realty, and other high-profile companies who have trusted Redbourne to provide a home for their operations. “When highly respected real estate companies choose to be your tenant, you must be doing something right,” says Taylor.
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ASSET REPOSITIONING
Creating a more productive and professional environment in office buildings Part of creating value in today’s real estate is understanding each property’s potential. With this in mind, Redbourne consults with its existing customers to get a better idea of what works and what can be improved. This means that each property has its own personality. Add over 30 years of experience in the industry, and you get a formula for improving assets for tenants and their workforce. Examples of Redbourne’s skill set are found in the Place Telus, Tour Bell Media, Complexe Metro Longueil, and Heron’s Hill. Each of these properties has been improved with a focus on providing a better environment for the tenants within them.
REDBOURNE INVESTMENT FUNDS Redbourne Funds are governed by Investment Committees helmed by investors’ nominees. They provide Canadian pension funds and institutions with a platform to invest in real estate, without the cost of establishing an “in house” real estate department; as well as diversity across their portfolios and an experienced team of property management and financial professionals. Redbourne is currently raising money for investment in its fourth Fund. For interest please contact Peter Coughlin or Norman Spencer (514) 940-1555 or RBC Capital Markets: Jean-Charles Angers (514) 878-7236, Gary Morassutti (416) 842-8918
Communicate First. Construct Second. Congratulations to The Redbourne Group on your continued success. www.flatiron.ca
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COMPLEXE METRO LONGUEUIL Complexe Metro Longueuil enjoys an excellent location as the only south shore office building directly connected to the Metro. Once perceived as one of Montreal’s older and “tired” buildings, it has since been transformed by Redbourne through strategic capital improvements
to its common areas, washrooms, elevators, surface parking, and other improvements throughout. New amenities like an on-site day care are also being added, and enhancements have been made to help occupants get greater use out of its park-like courtyard and greenspaces.
25 Lafayette, 1000/1010 de Serigny
“We’ve put a lot of love into Complexe Metro Longueuil throughout the last couple years, and the result is a tenant community that loves it back,” says Cheryl Dufour, Redbourne’s Vice President Property Management.
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PLACE TELUS
630 René-Lévesque Boulevard
Redbourne partnered with its major tenant, Telus, to transform the main lobby of this iconic tower into a stylish modern entrance. Moreover, it added cutting edge amenities such as a state-of-theart telecom conference facility, available for use by the tenants of the building, and revitalized the front courtyard and street presence on René-Lévesque Boulevard. “Each property is defined by its tenants, so bringing these modern and cutting-edge enhancements to the Place Telus was only natural,” says Caroline Lambert, Vice President Property Management.
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Redbourne Realty Advisors
120 offices across Canada
TOUR BELL MEDIA
1800 McGill College
This property was the first of its kind in Montreal to install “destination dispatch” elevator controls as part of a massive elevator upgrade initiative. Additional highlights include lobby art installations and interior upgrades which reflect the property’s prestigious reputation. Moving ahead, Redbourne is working with neighbouring developments to expand the PATH network, creating greater access to the property and enhancing an important underground network in the core of Montreal.
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HERON’S HILL Electrical outages used to be a concern at Heron’s Hill until Redbourne partnered with a local utility in upgrading its electrical system to today’s A Class standards. Upgrades to improve traffic flow in and out of the property has also helped tenants deal with the challenge of GTA traffic, and outside, the rejuvenation of the elevated courtyard into an urban park-like setting has further enhanced the property’s environment, positioning it as a market leader.
2001/2005 Sheppard Avenue East
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Inside, Redbourne has collaborated with CBRE to showcase its new innovative design and workplace standards. “What we’ve done at Heron Hill has shown the market that existing buildings may efficiently be modernized to today’s standards for office space excellence,” says Taylor.
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EMPLOYEE CULTURE Long term and Loyal
Cheryl Dufour, Redbourne’s Vice President Property Management, has been working with Norman Spencer and Peter Coughlin even before Redbourne began in 1995. Dufour’s dedication to Peter and Norman is not unique, as there are others who have been at Redbourne since it began, and the list of employees that have been with the company for over a decade continues to grow annually. This loyalty is owed to a corporate culture that empowers employees to make decisions for the betterment of their customers and their properties. It’s a culture that takes a day-to-day commitment from Redbourne’s team, and depends on employees listening to tenants, learning about their businesses, and assessing their needs. It’s about not only taking feedback, but taking it to heart and using Redbourne’s resources to continually improve its customer’s ability to operate their businesses in the building. “I can honestly say we know each tenant in our Montreal portfolio very well,” notes Dufour, “We speak frequently, we’re very hands on, and we’re always open to suggestions. We’re not the type of manager that says we’re going to do something and then doesn’t do it. That’s why our employees are proud to see tenants in an elevator or hallway because we know they’re happy with the service we’re providing them.” Employees are encouraged to think about their responsibilities and react appropriately to each situation. This ranges from proactively replacing washroom flush valves to suggesting new building efficiencies to managers that will improve the lives of its tenants. Surely, every Redbourne employee has contact with the tenants in different ways, and the feedback into improving the building gets executed into the day-to-day management of the property. Adds Dufour, “This ensures our employees know they are a large part of the company’s success.”
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GROWING FORWARD Cautiously Optimistic
It’s no secret that investing in any Canadian real estate market is challenging. Looking for the right purchase and knowing you will pay more for it than next in line can make the opportunities harder to come by. Fortunately, the experience Redbourne has gained over its 30-plus years of investing in commercial properties gives it a razor-sharp focus on finding the right properties in which to invest. “We know what we are good at, and we do not stray from that,” says Coughlin. Redbourne has raised its three funds and executed on its investment mandate with success over the past 11 years. Investors enjoy working with Redbourne because it is small enough to allow them to participate in major decisions for their investments, yet big enough to execute on capital investments into significant real estate projects.
Place Telus (Montreal, QC)
“We have invested in $5 million assets and in assets over $100 million, each with the goal of and improving the property. By doing so, we’ve contributed to the betterment of the community and add value as a result,” says Spencer. Redbourne will continue its focus on fundbased investment, and is currently raising money for its fourth fund, noting Taylor: “This fourth fund will be a continuation of our successful model of buying office or industrial properties in both Quebec and Ontario need of repositioning or a ‘little love’.” Looking ahead, Spencer adds, “We understand the goals our stakeholders expect and we work hard to execute the business plan and deliver returns to our investors. Redbourne really is an entrepreneurial company in an institutional market.”
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Providing consistently superior professional services at competitive prices
SERVICES • • • •
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Congratulations on your continued success from H.W. & Associates
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COLLIERS CONGRATULATES REDBOURNE ON
SUCCESSFUL YEARS The foundation of our service is the strength and depth of our advisors and specialists. Our Services Include: • • • • • • • • •
Brokerage: Landlord Representation Brokerage: Tenant Representation Corporate Solutions Investment Services Project Management Property Marketing Real Estate Management Services Research Services Valuation & Advisory Services
To find out how our advisors can help maximize the value of your property or portfolio, contact us today.
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