December 31, 2021
A Letter from Trez Capital’s Chairman & Chief Executive Officer
In 2020, our lives changed and for nearly two years we have been chasing “normal”. Across North America, states, provinces, cities and businesses had different experiences with the pandemic and as the world continues to reopen, our team continues to show tremendous resilience, determination and success.
We are optimistic about 2022. I am very proud of our team that has been able to grow and exceed over the last two years. Trez Capital is what it is today because of its people, and I know that they will continue to lead the industry for years to come.
Growth and Renewal in 2021
We manage approximately $4.2 billion and have hit record highs in our origination business this year. In 2021 alone, Trez Capital had in excess of $4 billion CAD in loan commitments, which will assist in building important communities across North America. In terms of loan payoffs, we received $1.7 billion in 2021, which meant roughly 50% of the portfolio was turned over, a testament to the quality of our loan portfolio.
At Trez Capital, through our funds, we are entrusted with the responsibility of providing income to 30,000 plus retail investors and some of Canada’s largest pension plans with over 35,000 accounts. In 2021 we met our targets and distributed $150M in income to our investors across the funds. In addition, we also returned over $100M in capital to our investors, plus we met all of our redemptions.
We enter 2022 with ample cash on hand and access to credit lines, putting us in a strong position to seize opportunities as we pursue strategic growth objectives.
A Bold, Winning Team
Today, Trez Capital stands strong with over 160 employees and continues to attract incredible talent, grow teams, develop relationships and create new business opportunities.
In 2021 we expanded our leadership team. John Maragliano joined us as Chief Financial Officer (CFO), Christian Skogen as Chief Risk Officer (CRO) and Keiju Yamasaki as Global Head of Credit Risk and Underwriting, and Sandra LaFontaine was promoted to Chief Compliance Officer (CCO).
We have continued to bring focus to the core lending business with several new hires and changes across the U.S., which included promoting John Hutchinson to Global Head of Origination where he is responsible for overseeing the company’s commercial real estate business across North America. Stuart MacFarland was also promoted to Senior Managing Director and is launching our new origination office in Seattle.
The bridge financing business has expanded under Darren Esser’s leadership with the build out of our New York and Los Angeles offices.
Most recently, out of our Toronto office, Vikram Rajagopalan became Executive Managing Director, Global Head of Capital Raising.
Our team continues to lead the industry with their expertise and innovation. We are confident that we have the right leaders in place to take Trez Capital into the next chapter.
Building the future
Since 2015, Trez Capital has financed the development and construction of nearly 80,000 homes across North America. In 2021 alone we financed the building of 16,000 homes with approximately 58,000 people living in those units.
We know that the business we are doing is very important. We are not seeing any slow-down in the market and are projecting strong real estate markets throughout 2022. We continue to watch market and industry data very closely and monitor the regions we invest in. The states where Trez Capital is active, including but not limited to; Texas, Arizona, Colorado, Utah, Florida, South Carolina and Georgia, make up 68.5% of net projected U.S. population growth from 2021 to 2026.
Throughout the last year we remained focused on what matters most, our borrowers, developers and investors. I look forward to a strong 2022 and the celebration of our firm’s 25-year anniversary.
Sincerely,
Morley Greene
Chairman & Chief Executive Officer
About Trez Capital
Founded in 1997, Trez Capital is a diversified real estate investment firm and preeminent provider of commercial real estate debt financing solutions in Canada and the United States. Trez Capital offers private and institutional investors strategies to invest in a variety of opportunistic, fully secured, mortgage investment funds, syndication and joint-ventures and provides property developers and owners with quick approvals on flexible short- to mid-term financing.
With offices across North America, Trez Corporate Group has over $4* billion CAD in assets under management and has funded over 1,600 transactions totaling more than $14.5 billion CAD since inception. For more information, visit www.trezcapital.com. (*Trez Corporate Group AUM includes assets held by all Trez related entities as well as $2.7 billion Manager AUM (Trez Capital Fund Management Limited Partnership)).