Board of Trustees
Stephen Evans, Chairman of the Board of Trustees, CFO
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. 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.
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.