In November, KingSett Capital announced the company had elevated Rob Kumer to the position of CEO, while naming former CEO and founder (and previous CRE Talks guest) Jon Love as executive chair of the firm.
Started by Love in 2002, KingSett Capital is a leading Canadian private equity real estate firm that co-invests with institutional and ultra-high-net-worth clients. KingSett manages over $18 billion in assets across its growth, income, urban, mortgage, residential development and affordable housing strategies.
Roughly four months into his new role, Kumer joined Marc Dubé and Arnold Fox from Colliers Montreal to discuss the path that led him to the top of KingSett, and to detail how the Toronto-based company shaped itself into a one-stop shop for the real estate needs of investors, sellers, lenders, capital partners and occupiers with a national portfolio.
While enjoying a 2019 Burgundy, the hosts and their guest assessed the state of the Canadian commercial real estate industry while exploring both the challenges and causes for optimism with regards to the national economy.
Takeaways from the conversation:
- KingSett’s goal is to develop well-rounded real estate investment strategies and take into consideration all parts of the capital stack in every major market across the country.
- Many people underestimated how long interest rates would remain elevated, but the process seems to finally be working at pulling down inflation.
- Kumer doesn’t worry too much about asset valuation because KingSett’s strategy is rooted in being the best landlord and ensuring tenants are happy. With those pillars in place, Kumer believes valuation will take care of itself and weather market turbulence.
- KingSett is fundamentally optimistic about Canada’s future and that’s underpinned by major macro tailwinds including Canada’s stable banking sector and record population growth.