Board of Trustees
Stephen Evans, Chairman of the Board of Trustees, CFO
Mr. Evans is a co-founder of Pure Industrial Real Estate Trust, which raised approximately $800 million in equity financing and acquired a portfolio of over 170 industrial properties in Canada and the US, having a total value of approximately $1.4 billion prior to its privatization in 2018. He also co-founded and is the Chief Executive Officer of Pure Multi-Family REIT LP (TSXV: RUF.U, RUF.UN, RUF.DB.U), which has a portfolio of approximately 7,000 luxury apartment units located in strong growth markets of the Southwestern United States. He is the Chief Operating Officer of, and indirectly owns 50% of the shares in, Sunstone Realty Advisors Inc. As well, he co-founded and serves as a Director of American Hotel Income Properties REIT LP (TSX: HOT.UN), a REIT LP that currently owns approximately 110 hotels in the U.S.
Antony Kalla, Trustee
Mr. Kalla is a Principal of Westbridge Mortgage Services Ltd. and has been a commercial mortgage broker in Vancouver since graduating from the University of British Columbia in 1987. He began his career with TerraFund Financial Inc., where he became an owner/partner in 1991 before he co-founded Westbridge Capital Group, a boutique commercial mortgage brokerage firm, in 1993. To date, he has been directly involved in placing over $3 billion in mortgage debt across all segments of the market across Canada, with a focus on British Columbia. Mr. Kalla continues to run his business at Westbridge today as well as his personal ventures in commercial real estate, which encompass acquisition, management and repositioning of a variety of property types including retail, industrial, multi-family, office and hospitality (hotel) in Southern British Columbia.
William Randall, Trustee
Mr. Randall is a Senior Vice President of Cushman & Wakefield Ltd. (Vancouver) where he has consistently been awarded for his top sales achievements and was the division’s top salesperson in 2003, 2004, 2010, 2011 and 2013. Mr. Randall has extensive experience with the real estate markets in Northern British Columbia and has completed well in excess of 100 real estate transactions in Northern British Columbia for clients such as BCR Properties Ltd., Shell Canada, the Province of British Columbia and Canfor Corporation. He holds direct or joint venture interests in several properties in British Columbia, many of which are in Northern British Columbia.
The audit committee (the “Audit Committee”) of the Board of Trustees consists of Stephen Evans, Antony Kalla and William Randall. Messrs. Kalla and Randall are “independent” within the meaning of National Instrument 52-110 - Audit Committees. Each member is financially literate within the meaning of applicable securities laws and has an understanding of the accounting principles used to prepare financial statements, experience preparing, auditing, analyzing or evaluating comparable financial statements and experience as to the general application of relevant accounting principles, as well as an understanding of the internal controls and procedures necessary for financial reporting.
The Trustees have adopted a written charter for the Audit Committee, which sets out the Audit Committee’s responsibility in reviewing the financial statements of REALnorth Opportunities Fund (“REALnorth”) and public disclosure documents containing financial information and reporting on such review to the Board of Trustees of REALnorth, ensuring that adequate procedures are in place for the review of REALnorth’s public disclosure documents that contain financial information, overseeing the work and reviewing the independence of the external auditors and reviewing, evaluating and approving the internal control procedures that are implemented and maintained by management.