The Sunstone Team
With input from property managers and the Advisory Board, the principals of Sunstone operate as a unanimous investment committee for all transactions. They have a combined track record totaling over $921 million in successful acquisitions.
Steve Evans, President, Director and Chief Executive Officer
Mr. Evans is the President and owner of Sunstone Realty Advisors Inc. (“Sunstone”). Since 2003, Sunstone, and its predecessors, have raised over CDN$300 Million in equity for its Sunstone series of funds (collectively, the “Sunstone Funds”). Sunstone 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 has founded several platform companies under the PURE brand including Pure Living Developments, which is focused on developing high quality multi-residential homes within proximity to natural amenities, providing live-work-play settings for residents.
Mr. Evans co-founded Pure Multi-Family REIT LP (“Pure Multi”) (formerly listed on the TSX) in 2012 and served as CEO until its successful sale in September, 2019. Pure Multi owned and operated a diverse portfolio of luxury apartment communities in the US Sunbelt growth markets. At the time of its sale, Pure Multi owned 22 apartment communities with over 7,000 units located in Texas and Arizona, and was one of the top-performing REITs on the TSX during its tenure. Pure Multi was sold to the Cortland Group of Atlanta for CDN$1.6 Billion.
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 as a trustee of PIRET for its full tenure until its sale in May, 2018. Since it’s IPO in 2007, Mr. Evans led the growth of PIRET from a small 6-property industrial portfolio to a dominant Canadian industrial platform. At the time of the sale, PIRET owned 177 industrial properties in Canada and the United States and was sold to Blackstone for CDN$3.8 Billion.
Mr. Evans co-founded American Hotel Income Properties REIT LP (“AHIP” - TSX: HOT.UN) in 2013 and serves as a Director. AHIP has grown to own a portfolio of 78 mid-service hotels across 22 states throughout the US. In addition, Mr. Evans is the acting Chief Financial Officer of REALnorth Opportunities Fund, an open-ended investment trust which indirectly invests in revenue producing real estate assets and development properties located in northern B.C.
Mr. Evans is a member of the Institute of Corporate Directors, and serves as a Director of Addy Invest, a crowdfunding digital marketplace platform for investors to purchase quality real estate. 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 focuses on selective acquisitions and development of strategically located multi-family residential communities, mixed-used and light industrial assets throughout Western Canada with a particular focus on Greater Vancouver.
Darren Latoski, Principal (1969-2013)
On September 9, 2013, Sunstone announced the sudden passing of Principal and Co-Founder Darren Latoski. Darren fought a valiant battle with cancer and was active in his role with Sunstone until his death. He was one of Canada’s most successful young entrepreneurs and will be deeply missed by family, friends and colleagues alike.
On
September 9, 2013, PIRET announced the sudden passing of co-founder,
director and Co-Chief Executive Officer, Darren Latoski. Darren
co-founded PIRET and raised $21 million of equity capital for PIRET’s
IPO in August 2005. Under Darren’s guidance from 2005 to 2013, Darren
grew PIRET’s portfolio to over 160 industrial properties and over 12.8
Million square feet. Darren fought a valiant battle with cancer and was
active in his role with PIRET until his death. He was one of Canada’s
most successful young entrepreneurs and will be deeply missed by family,
friends and colleagues alike. - See more at:
http://www.piret.ca/about-us/corporate-governance#sthash.HHytsZ4u.dpuf
On
September 9, 2013, PIRET announced the sudden passing of co-founder,
director and Co-Chief Executive Officer, Darren Latoski. Darren
co-founded PIRET and raised $21 million of equity capital for PIRET’s
IPO in August 2005. Under Darren’s guidance from 2005 to 2013, Darren
grew PIRET’s portfolio to over 160 industrial properties and over 12.8
Million square feet. Darren fought a valiant battle with cancer and was
active in his role with PIRET until his death. He was one of Canada’s
most successful young entrepreneurs and will be deeply missed by family,
friends and colleagues alike. - See more at:
http://www.piret.ca/about-us/corporate-governance#sthash.HHytsZ4u.dpuf
On
September 9, 2013, PIRET announced the sudden passing of co-founder,
director and Co-Chief Executive Officer, Darren Latoski. Darren
co-founded PIRET and raised $21 million of equity capital for PIRET’s
IPO in August 2005. Under Darren’s guidance from 2005 to 2013, Darren
grew PIRET’s portfolio to over 160 industrial properties and over 12.8
Million square feet. Darren fought a valiant battle with cancer and was
active in his role with PIRET until his death. He was one of Canada’s
most successful young entrepreneurs and will be deeply missed by family,
friends and colleagues alike. - See more at:
http://www.piret.ca/about-us/corporate-governance#sthash.HHytsZ4u.dpuf
Advisory Board
Unlike many investment firms, Sunstone does not present its investors with a set Advisory Board. We believe it is important to provide fresh outlooks, opinions and experiences. At any one time we have between three and five Advisory Board members. The Advisory Board's role, through ongoing communication and formal quarterly meetings, is to add to the existing depth of experience of the Sunstone team in making strategic asset allocation decisions as well as expanding on our network of opportunities.
Asset Managers
Sunstone takes a hands-on role as asset managers. Our responsibilities include directing the management firms we select, monitoring the performance of assets against local and national benchmarks and developing medium and long term strategies for the improvement of our properties.
Finance and Reporting
Prompt, accurate and reliable reporting to our investors and their advisors is extremely important at Sunstone. We monitor each asset's monthly financial report from property managers, conduct random audits of individual properties and generate quarterly financial statements for individual investors.
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