Grosvenor Appoints Michael Ward to Lead North American Structured Development Finance Programme

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Sep 13, 2024, 08:41 ET

Mr. Ward's international development experience and tenure with Grosvenor extends 20+ years
Now oversees C$1.5bn in value across active projects within Grosvenor's Structured Development Finance business in North America
Will lead the overall growth and strategy of Programme investing in for-sale and rental residential developments

VANCOUVER, BC, Sept. 13, 2024 /PRNewswire/ -- Grosvenor, an international property owner and developer with a 70+-year track record in North America, has announced Michael Ward as Managing Director, Co-Investment. Based in Vancouver, BC, Michael will lead the company's Structured Development Finance (SDF) Programme which supplements Grosvenor's core urban property development and investment activities in the US and Canada by providing capital to leading residential developers in its chosen markets.

Michael Ward, Managing Director, Co-Investment for Grosvenor, to lead the company's Structured Development Finance (SDF) Programme.

With 20+ years of experience in property development, Michael has been directly involved in the delivery of 14 mixed-use and residential projects throughout North America. Most of these projects involved partnerships with large institutional Canadian pension funds, family offices and high-net-worth individuals. Michael's most recent role at Grosvenor involved guiding the strategic direction of the firm's Vancouver development programme valued at CAD$5.3bn and advancing capital partner relationships.

Jamie Delmotte, Chief Co-Investment Officer for Grosvenor's North American property business said, "Not only does Michael's new role and responsibility reflect Grosvenor's commitment to internal promotion, but his movement into SDF is also a natural progression given his vast industry experience, relationships and market knowledge. His work establishing and building partnerships has been vital to our growth to date and I look forward to what the future holds for the Programme under his leadership."

Michael Ward added: "Being on the Development side of our business for over two decades, I value the opportunity to lead this important business line and feel well-suited to the task – working with our developer partners to ensure the delivery of best-in-class properties across our key markets and leading a team of professionals to outperform return expectations for our partners."

Michael joined Grosvenor's Vancouver office in 2002 following an internship he completed the year before. He held a succession of development roles in the firm's Washington, D.C. and Calgary offices before returning to Vancouver in 2014. Here he expanded the development team and oversaw notable projects including the delivery of the multi-award-winning Grosvenor Ambleside, Connaught and The Pacific. Michael also held the role of General Manager of Grosvenor's Vancouver office between 2014 – 2022.

The SDF Programme, which operates from Grosvenor and partner capital, is actively fund raising for the fourth iteration of the True North partnership, timed to take advantage of the current dislocation in core gateway markets where Grosvenor is active. The Programme seeks opportunities to work with developers on the new construction of mixed-use developments, apartments, condominiums, and townhomes located in Vancouver, Toronto, California, Washington, D.C., and Seattle.

Grosvenor established the SDF Programme nearly 25 years ago to help address the structural shortage in supply of quality urban infill housing in gateway cities in the US and Canada. Since 2000, the SDF business has acted as a capital provider to 79 residential development projects with 9,500+ residential units. Lending over $625m to-date, Grosvenor's SDF projects represent $5bn in gross development value.

Michael will manage a team of 7 professionals who are based in Grosvenor's Vancouver, BC, San Francisco and Washington, D.C. offices. Educated at the University of British Columbia, Michael is a member of the Urban Land Institute (ULI) and is a 'Business in Vancouver 40 Under Forty' recipient. He has also been involved with numerous community organizations in Vancouver providing advice as to their real estate needs and participating in the selection of recipients for the Coast Mental Health - Courage to Come Back Awards.

About Grosvenor
Grosvenor has operated a diversified real estate business in North America since 1952. We focus on vibrant urban locations, making a positive difference to local neighbourhoods and communities.  

As of December 31, 2023, we had assets under management of US$3.8bn/C$5.0bn, including 71 high-quality properties, and is executing on a US$4.9bn/C$6.5bn development pipeline across its active markets. Consistent with the firm's farsighted approach to ownership and development, we value long-term partnerships; across our nine active capital partners, the average relationship is 18 years.

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For more information, please contact:
Great Ink Communications
Tom Nolan, Eric Waters
+1 212-741-2977
[email protected]

SOURCE Grosvenor