Blackstone establishes real estate office in Toronto

Blackstone has hired Janice Lin to head its real estate business in Canada, officials announced.

She has been tasked with helping to drive Blackstone Real Estate’s Canadian footprint as it continues to invest across all asset classes, with a focus on is long-term presence in the country. Lin previously served as chief investment officer at Revera, a global owner of differentiated retirement living operators with residences throughout Canada, the U.S. and U.K. Prior to that she held senior investment roles across multiple sectors at the Canada Pension Plan Investment Board. 

“We are excited to officially open a real estate office in Canada and welcome Janice to lead our real estate business in the country,” said Nadeem Meghji, Blackstone’s head of Real Estate Americas, in a statement. “We are long-term believers in the strength of the Canadian economy, and we look froward to leveraging her expertise and on-the-ground views to help us expand our presence in the Canadian real estate market.”

To date, Blackstone has built up its business in Canada to the tune of C$14 billion of real estate assets totaling approximately 450 properties — consisting primarily of logistics. Blackstone’s real estate business dates back to 1991 and today totals $298 billion. The New York-based firm is the largest owner of commercial real estate globally, owning and operating assets across every major geography and sector, including logistics, residential, office, hospitality and retail.

Blackstone recently relocated to a new office space near Seoul’s central business district of Gwanghwamun and hired Chris Kim to lead a newly created local real estate team.

“Blackstone’s long-term investment approach has enabled it to build a growing logistics, office, and residential footprint across Toronto, Montreal, and Vancouver,” commented Lin in a statement. “Canada’s population growth is the highest among G7 nations and is nearly double that of the U.S., and I believe that will continue to create exciting opportunities in the market. I look forward to strengthening Blackstone’s strong presence in Canada and supporting businesses across a number of different sectors.”