Corporate Governance

Pure Multi-Family's operations and business are governed exclusively by the Governing GP.  The board consists of eight directors, the majority of whom are independent.

The board of directors and management of the Governing GP consist of the following individuals:

Name Position AC (1) N&G (2) CC (3) EHS (4)
Fraser R. Berrill Independent Director M C    
Stephen J. Evans Director and CEO        
Paul G. Haggis Independent Director M      
Maurice Kagan Independent Director     C M
Robert W. King Chair and Independent Director M   M  
Richard W. Nesbitt Independent Director   M M  
John C. O'Neill Director       C
Sherry D. Tryssenaar Independent Director C M   M
(1)  Audit Committee
(2)  Nominating & Governance Committee
(3)  Compensation Committee
(4)  Environmental Health & Safety Committee

Directors

Fraser R. Berrill

Independent Director

Mr. Berrill is the President of Fragin Holdings Limited, a private investment company principally involved in real estate income properties and development in Ontario, Texas and Arizona. He is the former President, Chief Executive Officer and director of Renasant Financial Partners Ltd., a financial services and technology trading organization. Mr. Berrill has served as a director of several public and private companies, currently as a director for TWC Enterprises Limited (TSX: TWC) and has previously been on the board of Vicwest Inc. (formerly listed on the TSX) since 2009, and has acted as Board Chair from 2011 to June, 2015, and was formerly a Trustee of Morguard REIT (TSX: MRT.UN). In addition, he is a member of the Law Society of Upper Canada, and holds a designation of Chartered Director from McMaster University. Mr. Berrill is also on the Board of Governors of the University of Windsor.

 

Stephen J. Evans

Co-Founder, Director and Chief Executive Officer

Mr. Evans is the co-Founder and Chief Executive Officer of Pure Multi-Family. Mr. Evans also co-founded Pure Industrial Real Trust (“PIRET”) (formerly listed on the TSX) in 2007 and served as CEO until May 2015 and a trustee until its sale in May, 2018. PIRET was established for the purposes of acquiring, owning and operating a diversified portfolio of income-producing industrial properties in leading markets. Since it’s IPO in 2007, Mr. Evans led the growth of PIRET from a small portfolio to a dominant industrial platform. At the time of the sale, PIRET owned 177 industrial properties in Canada and the United States and was sold for CDN$3.8 Billion. He is also the Chief Operating Officer of and indirectly owns 50% of the shares in Sunstone Realty Advisors Inc. (“Sunstone Realty”). Since 2003, Sunstone Realty, and its predecessors, have raised over CDN$300 million in equity for its Sunstone series of funds (collectively, the “Sunstone Funds”). Sunstone Realty has participated in the negotiation, acquisition, redevelopment and asset management of over CDN$800 million in commercial, residential and office properties in Canada and the United States. Mr. Evans co-founded American Hotel Income Properties REIT LP (TSX: HOT.UN) in 2013 and serves as a Director. In addition, Mr. Evans is the acting Chief Financial Officer of REALnorth Opportunities Fund, an unincorporated, open-ended investment trust which indirectly invests in revenue producing real estate assets and development properties located in northern B.C. Previously, from September 15, 2008 to December 31, 2009, Mr. Evans was a director of IAT Air Cargo Facilities Income Fund and director of International Aviation Terminals Inc. and then commenced as a director of Huntingdon Capital Corporation (formerly Huntingdon Real Estate Investment Trust) on January 1, 2010 until September 26, 2012. Mr. Evans was also formerly a director of WesternOne Inc. (formerly listed on the TSX). Mr. Evans is also a member of the Institute of Corporate Directors.

 

Paul G. Haggis

Independent Director

Mr. Haggis was President and Chief Executive Officer of Ontario Municipal Employees Retirement System (OMERS) from September 2003 to March 2007 and prior thereto, Director and Interim Chief Executive Officer of the Public Sector Pension Investment Board (PSPIB). Mr. Haggis has extensive financial markets and public board experience having served on the Board of Directors of Canadian Tire Bank and PIRET. Mr. Haggis was a director and Chair of the Investment Committee of the Insurance Corporation of British Columbia, Chair of the Audit Committee of C.A. Bancorp and Prime Restaurants Royalty Income Fund, and Chair of Canadian Pacific Railway, Director of UBC Investment Management Inc. He was Chief Operating Officer of Metlife Canadian operations and Chief Executive Officer of ATB Financial. Currently, Mr. Haggis is the Chairman of Alberta Enterprise Corp, a Director and Audit Chair of Home Capital Group Inc., a Director and Audit Chair of Advantage Oil and Gas and a Director of the Bank of Canada.
 
Mr. Haggis holds a Bachelor of Arts degree from the University of Western Ontario and is certified as a Chartered Director through the Directors College at McMaster University. He was a Commissioned Officer in the Royal Canadian Air Force Reserve.

 

Maurice (Maish) Kagan

Independent Director

Mr. Kagan is currently President of Canal Group, a Residential and Commercial Property Holding Company. Mr. Kagan was previously Chief Executive Officer and owner of Sparkle Solutions Inc. a route operator servicing over 13,000 laundry machines serving the multi residential housing industry in Ontario. In 2013, he sold Sparkle to Coinmach, a US based Laundry operator. In 1997, as CFO, he spearheaded the launch of RESREIT a real estate investment trust. In 2003, RESREIT was sold to CAPREIT. He is currently on the Board of Kew Media (TSX:KEW), Cliffside Capital (TSXV: CEW), Atrium Mortgage Investment Corporation (TSX: AI) and Pinehurst Capital I Inc. (TSXV: PHT.P). His previous Board seats were InterRent REIT, and he was Chair of the Audit Committees of both Carfinco and Lonestar West. Prior to that he was the CFO of the Greenwin Group managing over 20,000 apartment units in Ontario. Mr. Kagan has a Bachelor of Commerce and a certificate in the Theory of Accountancy and qualified as a Chartered Accountant in South Africa in 1981.
 
 

Robert W. King

Chair and Independent Director

Mr. King is the Chair of the Board of Pure Multi-Family. He is also the President of King Pacific Capital Corporation, a private company specializing in mortgage finance and real estate development and investment in Western Canada. Mr. King is also a principal of Westbridge Finance Inc., a full-service commercial mortgage brokerage company. Mr. King is a director of Wall Financial Corporation (TSX: WFC), a real estate investment and development company, and was a trustee of PIRET (formerly listed on the TSX) until its sale in May, 2018, and the Chairman of the Board of WesternOne Inc. (formerly listed on the TSX). Mr. King is also a director of the general partner and/or corporate trustee of each of the limited partnerships and real estate investment trusts comprising the Sunstone Funds. Mr. King earned his MBA from Dalhousie University in 1992 and a Bachelor of Arts from the University of British Columbia in 1989. He graduated from the ICD-Rotman Directors Education Program in November of 2015 and received the ICD.D designation from the Institute of Corporate Directors in February 2016. Mr. King is also a member of the Institute of Corporate Directors.

 

Richard W. Nesbitt

Independent Director

Mr. Nesbitt recently completed his tenure as Chief Executive Officer of Global Risk Institute in Financial Services, which is building a globally recognized research organization in the management of emerging risks.
 
Mr. Nesbitt is an Adjunct Professor of the Rotman School of Management (“Rotman”), University of Toronto, and chair of the Advisory Board of the Mind Brain Behavior Hive at the same University. He has also recently been a Visiting Professor at the London School of Economics, United Kingdom.
 
At Rotman, Mr. Nesbitt created and teaches a course entitled “How Banks Work: Management in a New Technological Age”. He is also an active public speaker at conferences and events across North America where he presents on the topics of risk management and securities market structure.
 
Mr. Nesbitt, who serves on a variety of corporate and community boards, was recognized in 2014 by the organization Women in Capital Marks with its Visionary Award. This honour was bestowed on Richard for work over his career to sponsor gender diverse management teams and boards in order to produce better companies. He also received the Queen Elizabeth II Diamond Jubilee Medal for community service and the Arbor Award from the University of Toronto for his work with the school.
 
Before joining the Global Risk Institute, Mr. Nesbitt was Chief Operating Officer of Canadian Imperial Bank of Commerce (TSX: CM) until he retired from that position in September 2014. In this role, he was responsible for the global operations of Wholesale Banking, Technology and Operations; Strategy and Corporate Development; CIBC’s International Operations, including CIBC FirstCaribbean International Bank; and Treasury. He joined CIBC in 2008 following his more than 20 years of experience in the securities industry which included CIBC Wood Gundy from 1987 to 1997.
 
From 2004 to 2008 Mr. Nesbitt was Chief Executive Officer of TSX Group, the predecessor to the TMX Group (TSX: X), a public company listed on the Toronto Stock Exchange, having joined TSX as President of TSX Markets in 2001. He was responsible for the consolidation of the various local exchanges across Canada into what is today known as the TMX Group.
 
 

John C. O’Neill

Director

Mr. O'Neill was a co-founder and is currently the Chief Executive Officer of American Hotel Income Properties REIT LP (TSX: HOT.UN). Mr. O’Neill was a co-founder of Canadian Hotel Income Properties REIT (“CHIP REIT”) in 1997 and served on CHIP REIT’s Board of Trustees from 1999 to 2002. Mr. O’Neill was also a partner with Intrawest in the ownership and management of Whistler Lodging Company. Mr. O’Neill is a member of the Board of Trustees for the Fraser Institute; a former Director of the Minister’s Council on Tourism on behalf of B.C.’s Ministry of Jobs, Tourism and Innovation; and also Chair of the Collingwood School Foundation. He is a past Member of the Faculty Advisory Board of the UBC Sauder School of Business, a former Member of the Tourism Whistler Board of Directors, a former BC Chapter Chair of Young President’s Organization, a former Member of the Owners’ Advisory Councils of Starwood Hotels & Resorts and Marriott Hotels.
 
 

Sherry D. Tryssenaar

Independent Director

Ms. Tryssenaar is a Corporate Director. She served as the Chief Financial Officer of Ten Peaks Coffee Company (TSX: TPK), and of Ten Peak’s subsidiary, Swiss Water Decaffeinated Coffee Company from March, 2009 to May, 2018. As the CFO, Ms. Tryssenaar was responsible for corporate finance, accounting and financial reporting, compliance and risk management, information systems, human resources, and investor relations. Previously, she was Chief Financial Officer, Vice President, Finance and Administration and a director of QuestAir Technologies (TSX: QAR). Earlier in her career, Ms. Tryssenaar was Director of Corporate Finance with RBC Technology Ventures, and Vice President, Investments of Quorum Funding, a venture capital firm. Ms. Tryssenaar has served on the boards of directors of various companies and not-for-profit organizations. Currently, she is a director and Chair of the Audit Committee of Unit Electrical Engineering, a privately held company. Ms. Tryssenaar is a Chartered Professional Accountant. In addition, she holds a Bachelor of Business Administration (first class honours) from Simon Fraser University, and a M.Sc. (Econ) in International Relations from the London School of Economics, which she attended as a Commonwealth Scholar. In 2011, Ms. Tryssenaar was named the BC CFO of the Year in the small public company category by Business in Vancouver. She was also recognized as a Top 40 Under 40 by Business in Vancouver in 2007.