Michael Nemanic spearheaded one of the largest mixed use redevelopments in Toronto. He is now on Wellington Towers. The operating bench behind a development matters more than the brochure. Today we introduce ours.
PV, Mit & Jeff
You are funding the operating bench behind the build. Today we introduce the two senior operators executing Wellington Towers, plus a tease on the third senior addition coming soon.
16 minutes · PV & Jeff · Full Wellington Towers deck, the capital stack, the NOI math, and the institutional buyer pool we are building for.
Most development funds you see at the investor level are a slick deck and three names. Once the wire clears, you find out the operating team behind the build is light, junior, or non existent. The principals raise the money. Somebody else they have never built with has to actually deliver.
That is not how we are building Wellington Towers. The senior operators executing this project have a combined track record measured in billions of dollars of built real estate. Today we walk through who they are and what they own on the project.
Michael spearheaded the $2 billion Sheridan Mall redevelopment in Toronto, one of the largest mixed use transformations in the country. His career includes some of the biggest real estate projects ever built in Canada. He is also one of the most respected planning lawyers in the country. That combination, senior development manager and top planning lawyer in the same operator, is rare and it is the single most useful skill set a project like Wellington Towers can have.
On Wellington Towers, Michael owns the development management and the planning law track. That means moving the project through site plan approval, municipal entitlement, zoning, and every step of the Planning Act process. The detail work where development deals quietly succeed or quietly die.
We are not learning how to develop a 432 unit tower on your money. Michael has done this scale before.
Dean leads the construction execution out of HFA Construction. HFA is a Canadian builder with a deep bench in residential and mixed use development. Dean owns the precast strategy, the trade selection, the build schedule, and the cost control.
Precast is the single biggest risk reduction lever in this project. Factory pricing instead of site pricing. Compressed timeline. Fewer trades on site. Weather neutral build. Dean is the operator turning that strategy into actual concrete on actual land.
We are bringing on a senior advisor with decades of leadership inside the city of London. Someone whose name on a development file is recognized at city hall before the package is opened. He most recently held one of the highest profile public roles in the city.
On a 25 storey, 432 unit project, local relationships and municipal expertise are not nice to have. They are the difference between an approvals path that takes 18 months and one that takes 36. Formal announcement coming soon.
432 Units · 25 Storey Purpose Built Rental · London, ON
$100K Minimum · Cash Only · Accredited / Existing FC Investors
Tranche 1 Extension: 24% Net Annualized Targeted Return
FCPRET is open continuously at a $10,000 minimum, eligible for RRSP, TFSA, RESP, LIRA, and cash. 7% targeted distributions paid monthly, 15% targeted total return. The same operating discipline applied to stabilized buildings instead of new development.
Stabilized Multi Family Buildings · Southwestern Ontario
$10K Minimum · RRSP / TFSA / RESP / LIRA Eligible
Targeted Return: 15% Annualized (7% cash + 8% appreciation)
To your success,
PV, Mit & Jeff
P.S. The single best diligence question you can ask a development fund is who is actually building the building. Not the brochure, not the principals raising the capital. The operating bench. On Wellington Towers, the answer to that question includes a billion dollar Toronto development on Michael's resume and a Canadian builder with HFA on Dean's. If you want to walk through the team, the deck, or the math, reply Wellington and we will set up a call this week.
