Trustees / Directors & Officers
Trustee/Director & Chairman
Since November 1, 2017, Mr. Marshall is Executive Vice President of Strategic Partnerships at Ontario Municipal Employee Retirement System (“OMERS”) where he leads the growth of the pension fund’s strategic partnerships, including its relationships with third-party organizations, co-investors and other finance partners. Prior to OMERS, Mr. Marshall served as Managing Partner, Corporate Finance at Brookfield Asset Management Inc. (“Brookfield Management”) where he was responsible for the global corporate finance activities and oversaw all financings in each core region and business line. Throughout his 16 years with Brookfield Asset Management, he had completed in excess of US$100 billion in debt and equity transactions. Those transactions involved corporate and asset level issuances in North and South America, Europe, UK, Australia and India for all of Brookfield Asset Management’s real estate, renewable power and infrastructure businesses.
Mr. Marshall has over 25 years of finance experience, which was initially developed working for Olympia and York Developments Ltd. at Canary Wharf. This was followed by periods of employment with Citibank, in its real estate asset management group, and then two prominent U.S.-based real estate finance investment companies, Fortress Investment Group and Lonestar Opportunity Fund.
Mr. Aghar is the founder and President of Crux Capital Corporation, a value-add real estate investor, developer and venture capital investor active across Canada. Since 2013, Crux and its partners have purchased over 3 million square feet of commercial property and are participating in over 1 million square feet of development. Mr. Aghar has a successful 20 year track record as an opportunistic value investor on an institutional scale, having been responsible for more than one hundred real estate transactions totaling over $10 billion in value. Transactions have consisted of investments in Canada, the United States and internationally, including equity investments, developments, joint ventures, structured and mezzanine debt, open and closed end private equity funds as well as the privatization and launch of several public entities. Mr. Aghar was formerly President and Chief Investment Officer of KingSett Capital and a Managing Director of Institutional Accounts at GE Capital Real Estate.
Mr. Aghar is a board member in a variety of companies and investment funds as well a member of the Young President Organization. He is a CPA, CMA and is a graduate of the University of Waterloo with an Honors Mathematics Degree.
Donald E. Clow
Mr. Clow has been the President and Chief Executive Officer of Crombie REIT, a Canadian Real Estate Investment Trust that owns and operates shopping centres, freestanding grocery stores and office buildings with an enterprise value of approximately $4.75 billion, since 2009.
Prior to joining Crombie REIT, Mr. Clow was the President of ECL Developments Limited, a real estate development subsidiary of Empire Company Limited (“Empire”). Prior to joining Empire, he was the President of Southwest Properties, an entrepreneurial real estate developer and owner of commercial and residential property.
Mr. Clow serves on the Board of Governors of Acadia University, the Board of Directors for REALpac, the BOMA National Advisory Board and the ICSC Foundation Canada.
Mr. Clow holds a Bachelor of Business Administration from Acadia University, earned his CA designation with KPMG and was designated a Fellow Chartered Accountant in 2002. He is a recent graduate of the YPO President’s Program in Leadership at the Harvard Business School and is a member of World Presidents’ Organization (WPO).
Mr. Daal has been President of Canadian Real Estate for QuadReal Property Group since its establishment in June 2016, responsible for QuadReal’s domestic operations, including investment, development, and the management operation of the Canadian property portfolio. QuadReal is a global real estate company owned by the British Columbia Investment Management Corporation (bcIMC), one of Canada’s largest institutional investors, and has managed assets valued at over $18 billion.
From 2000 to 2016, Mr. Daal worked at Bentall Kennedy Group, one of North America’s largest real estate investment advisors and Canada’s largest property manager, most recently as President and Chief Operating Officer from 2009 to 2016. Prior to joining Bentall Kennedy, Mr. Daal held senior positions with CIBC Development Corporation and a private Toronto-based development company. Mr. Daal has over 25 years of experience in the real estate sector.
Mr. Daal currently serves on the board of Parkbridge Lifestyle Communities Inc. as well as the Faculty Advisory Board of UBC’s Sauder School of Business.
Mr. Forsayeth is Granite’s Chief Executive Officer and is also a director and trustee. He first joined Granite in August, 2011 as its Chief Financial Officer and was formally appointed Chief Executive Officer in March 2016. Over the course of his 30 plus‑year career, Mr. Forsayeth has held senior executive financial and operating positions in several public and private Canadian companies, including Intrawest, Cara Operations Ltd, Laidlaw Inc., Derlan Industries Limited and Bank of Montreal. Mr. Forsayeth is a CPA, CA and also spent nine years with Coopers & Lybrand (now PricewaterhouseCoopers) in various areas including the audit practice, the insolvency group and on a secondment in their London, England office.
Mr. Forsayeth graduated from Queen’s University with an Honours Bachelor of Commerce degree.
Mr. Manji has a long history in real estate. He is the founder and CEO of Sandpiper Group, a Vancouver-based real estate private equity firm established in 2016. In the early 90’s, Samir founded Amica Mature Lifestyles Inc. (a public company listed on the TSX), where he built Canada’s leading luxury seniors housing brand, and was the Chairman and CEO of the company until exiting in 2015 with the sale of the Company to Ontario Teachers’ Pension Plan for an enterprise value of $1.1 billion.
Through his family controlled company, Barney River Investments Ltd., he has been involved in over $2 billion in hospitality, seniors housing and multifamily residential real estate acquisitions and dispositions. Over the past decade, Barney River has acquired several significant properties in the Greater Toronto Area, including the Hilton and Westin Harbour Castle hotels in downtown Toronto.
Mr. Manji was recognized in 2006 as a recipient of Canada’s Top 40 Under 40 and was also named the Ernst & Young Entrepreneur of the Year award winner in the business-to-consumer products and services category in British Columbia in 2010.
Mr. Manji graduated from the University of Waterloo and received his CPA, CA with KPMG LLP in Toronto.
He is an active member of the Young Presidents’ Organization and he is the current President of the Ismaili Council of British Columbia.
Mr. Mawani is currently a Principal of Exponent Capital Partners Inc., a private equity investor and real estate advisory firm. Mr. Mawani has over 35 years of experience in the commercial real estate industry. His 15-year c-suite experience includes: 11 years as EVP & CFO of then TSX-listed Oxford Properties Group from 1989 to 2001, President & CEO of TSX-listed Calloway/ Smart REIT during 2011 to 2013, and President & CEO of privately-owned Rodenbury Investments during 2015 and 2016. He was an executive at a private equity investment firm during 2002 to 2004.
He has served on many TSX-listed boards since 2002 including serving as chair of Audit Committees and Governance & Compensation Committees. Mr. Mawani has also been a director of Extendicare Inc. since December 2017.
Mr. Mawani is a CPA, CA, has a Master of Business Administration from University of Toronto and a Masters in Law from York University.
Mr. Miller was Executive Vice President, Finance and Chief Financial Officer of West Fraser Timber Co. Ltd. (“West Fraser”) from January 2009 until his retirement in July 2011. Mr. Miller has been a director of West Fraser since April 2012. From February 2007 to December 2008, Mr. Miller’s principal occupation was Executive Vice President, Operations of West Fraser. Prior to that, since 1986, Mr. Miller held several other senior finance, administration and operations offices at West Fraser, including Vice‑President, Corporate Controller; Vice‑President, Administration; and Executive Vice‑President, Pulp and Paper.
Mr. Miller is an experienced CPA, CA and has been a member of the Chartered Professional Accountants of British Columbia and the Chartered Professional Accountants of Canada for over 30 years. Prior to joining West Fraser in 1986, he was a Senior Audit and Tax Manager with one of the major Canadian Chartered Professional Accounting firms.
Mr. Miller holds a Bachelor of Commerce degree from the University of British Columbia.
Chief Executive Officer
Mr. Forsayeth is Granite’s Chief Executive Officer and is also a director and trustee. He first joined Granite in August, 2011 as its Chief Financial Officer and was formally appointed Chief Executive Officer in March 2016. Mr. Forsayeth has also been a director of Imvescor Restaurant Group Inc. since November 2014. Over the course of his 30 plus‑year career, Mr. Forsayeth has held senior executive financial and operating positions in several public and private Canadian companies, including Intrawest, Cara Operations Ltd, Laidlaw Inc., Derlan Industries Limited and Bank of Montreal. Mr. Forsayeth is a CPA, CA and also spent nine years with Coopers & Lybrand (now PricewaterhouseCoopers) in various areas including the audit practice, the insolvency group and on a secondment in their London, England office.
Mr. Forsayeth graduated from Queen’s University with an Honours Bachelor of Commerce degree.
Chief Financial Officer
Mr. Konstantopoulos joined Granite in September 2016 as Chief Financial Officer and brings a diverse and global background that includes over 25 years of corporate finance, mergers and acquisitions, and capital markets expertise as well as extensive experience in real estate. Previously, Mr. Konstantopoulos served as Managing Partner at Brookfield Financial and Managing Director at BMO Capital Markets where, over the course of 20 years, he advised on domestic and international public market and private transactions having an aggregate value in excess of $100 billion. Prior to that, Mr. Konstantopoulos worked for several years at Ernst & Young where he earned his Canadian and United States professional accountant designations and for Bechtel where he worked as a structural design engineer and earned his professional engineering designation.
Mr. Konstantopoulos graduated from McGill University with a Bachelor of Engineering (B. Eng.) and a Master of Business Administration (MBA). Mr. Konstantopoulos is also a P. Eng. CPA,CA and CPA-US.
Executive Vice-President, Head of Global Real Estate
Mr. Kumer oversees all aspects of Granite property operations related to Granite’s global real estate platform including asset management, acquisitions, dispositions, and development. He is also responsible for the global Magna International relationship.
Mr. Kumer has over 25 years of experience in the real estate industry working for both public and private development companies. His experience includes property development, leasing, land planning and construction. For over 15 years, Mr. Kumer has worked for Granite and Magna in various roles including the management of Granite’s North American income‑producing properties portfolio. Prior to joining Granite, Mr. Kumer held senior positions in the real estate industry including Vice President at C. Hunter Real Estate Corporation in Toronto and Vice President with Peregrine Hunter Properties Ltd.
Mr. Kumer holds a Bachelor of Arts (Honours), business administration, from the Richard Ivey School of Business at the University of Western Ontario.