Peterson Real Estate, established in 1959 and headquartered in Vancouver, British Columbia, is a privately held firm specializing in real estate investment, development, property management, capital lending, and private equity. The company is dedicated to forging long-lasting relationships to create positive change in communities, emphasizing a values-driven culture, entrepreneurial spirit, and team integrity. Over the decades, Peterson has expanded from a single building on Alberni Street to a diverse portfolio across North America, including iconic developments like the Fairmont Pacific Rim in Vancouver and the Shangri-La in Toronto.
Key Strategic Focus
Peterson's strategic focus encompasses several core objectives:
- Real Estate Investment and Development: Engaging in the acquisition, development, and management of residential, commercial, and mixed-use properties.
- Property Management: Overseeing both commercial and residential properties to ensure optimal performance and tenant satisfaction.
- Capital Lending: Providing financing solutions for revenue properties, land acquisitions, and development projects.
- Private Equity: Investing in diverse sectors to foster growth and innovation.
The company targets markets across North America, with a significant presence in Vancouver and Toronto, aiming to create communities that bring long-term value to neighborhoods.
Financials and Funding
As of recent estimates, Peterson Real Estate generates an annual revenue of approximately $15.2 million, with a revenue per employee of $150,000. The company employs around 101 individuals, reflecting a 17% growth in employee count over the past year. Specific details regarding funding history and notable investors are not publicly disclosed.
Pipeline Development
Peterson has been involved in several significant projects:
- Fairmont Pacific Rim, Vancouver: A mixed-use luxury hotel and condominium development completed in 2010, coinciding with the Vancouver Winter Olympics.
- Shangri-La, Toronto: A mixed-use luxury hotel, condominium, and retail property completed in 2012.
- Frame, East Vancouver: Launched in 2022, this development is part of Peterson's initiative to create new communities in East Vancouver and Oakridge.
- 6800 Lougheed Highway, Burnaby: Acquired in 2019, this site is slated for a future 14 million square foot mixed-use master-planned community, marking Peterson's largest active-led development to date.
Technological Platform and Innovation
While specific proprietary technologies or AI-driven capabilities are not detailed, Peterson's approach to real estate development emphasizes:
- Community-Centric Design: Creating spaces that foster community engagement and long-term value.
- Sustainable Practices: Incorporating environmentally responsible methods in development projects.
- Innovative Partnerships: Collaborating with various stakeholders to bring unique developments to life.
Leadership Team
Peterson's leadership team comprises experienced professionals guiding the company's strategic direction:
- Ben Yeung, Chairman: Oversees the strategic direction of the company's assets, with a background in dentistry and real estate.
- Raymond Choy, President & CEO: Leads the company's operations and strategic initiatives, with over 20 years of experience in real estate and business management.
- Paul McIntyre, CFO: Provides leadership and oversight for accounting, finance, and investor relations, with a background in acquisitions and asset management.
- Chris Jackson, Chief Legal Officer & SVP, Operations: Advises on legal matters and risk management, with experience in real estate law.
- Jane Young, VP, Corporate Relations: Oversees the company's philanthropic initiatives and community engagement.
- Karen Power, VP, Human Resources: Leads the company's human resources initiatives, focusing on optimizing the employee experience.
- Barrett Sprowson, SVP, Sales & Project Marketing: Develops and implements sales and marketing strategies for the residential real estate portfolio.
- Eric Hughes, SVP, Development: Oversees development projects, ensuring alignment with the company's strategic goals.
- Shawna Cryer, SVP, Finance & Accounting: Leads the corporate and development accounting teams, overseeing financial reporting.
- Brendan Yee, VP, Development: Manages development projects, focusing on delivering value to stakeholders.
- Jason Howell, VP, Construction: Provides strategic oversight on major redevelopment projects across various sectors.
- Kayleigh Johnson, Director, Marketing: Oversees marketing strategies and execution across the company's portfolio.
Leadership Changes
Recent significant changes in the leadership team include the appointment of Jason Howell as Vice President of Construction, bringing over 25 years of experience in real estate development and construction.
Competitor Profile
Market Insights and Dynamics
The real estate industry in North America is characterized by steady growth, driven by urbanization, population growth, and economic development. The demand for mixed-use developments and sustainable communities continues to rise, presenting opportunities for companies like Peterson.
Competitor Analysis
Peterson Real Estate operates in a competitive landscape with several notable firms:
- Peterson Companies: Founded in 1965 and headquartered in Fairfax, Virginia, Peterson Companies is one of the largest privately-owned real estate development firms in the Washington, D.C. metropolitan area. The company has developed over 38,000 residential units and more than 26 million square feet of retail, office, and industrial space. Notable projects include National Harbor, Fair Lakes, and Virginia Gateway.
- MJ Peterson Real Estate: Established in 1930 and based in Amherst, New York, MJ Peterson is a full-service real estate firm offering residential, commercial, rental, relocation, and new build services. The company has been recognized as one of the top private companies in Western New York.
- Peterson Development: Founded in 1967 and headquartered in Salt Lake City, Utah, Peterson Development specializes in commercial real estate construction, infrastructure development, land acquisition and sales, and entitlement. The company has developed over 1.4 million square feet of retail space and constructed more than 1,200 homes.
Strategic Collaborations and Partnerships
Peterson Real Estate has formed collaborative partnerships to bring iconic developments to life, such as the Fairmont Pacific Rim in Vancouver and the Shangri-La in Toronto. These partnerships have been instrumental in the company's growth and success.
Operational Insights
Peterson's strategic considerations include:
- Market Position: Leveraging its strong presence in Vancouver and Toronto to capitalize on urban growth and development opportunities.
- Competitive Advantages: Emphasizing a values-driven culture, long-term relationships, and a diversified portfolio to differentiate from competitors.
Strategic Opportunities and Future Directions
Peterson's strategic roadmap includes:
- Expansion: Continuing to develop mixed-use communities in key markets, such as the 6800 Lougheed Highway project in Burnaby.
- Sustainability: Integrating sustainable practices into development projects to meet evolving market demands.
- Innovation: Exploring new technologies and methodologies to enhance project delivery and community impact.
Contact Information
- Website: Peterson Real Estate
- LinkedIn: Peterson Real Estate LinkedIn
Please note that specific contact details such as address, phone number, and email are not provided in this report.
