Team

Passionate people with
proven expertise.

It takes a lot of big-picture thinking to develop a successful project, but we never lose sight of the little things. We’ve built a reputation on strong relationships – those relationships start here.

Todd Cowan

Co-Founder and Managing Partner

416.637.9307

todd@capitaldevelopments.com

Todd Cowan

Co-Founder and Managing Partner

Phone:  416.637.9307

Todd has over 30 years of real estate experience in North America and Europe and co-founded Capital Developments in 2007. He is responsible for oversight and management of all business areas with a focus on corporate strategy, executive resources, investments and capital partners. Prior to Capital Developments, Todd represented TrizecHahn Corporation and was one of the founding executives and CEO of TriGranit Development Corporation from 1996 – 2006. During this time the company established operations in 12 countries throughout Central and Eastern Europe, developed a large portfolio of award-winning projects and positioned TriGranit as one of the leading developers in Central and Eastern Europe. Todd graduated with an HBA designation from the IVEY School of Business and is a member of the Young Presidents Organization. He was a founding investor and Board Member of JCM Power, a leading renewable energy provider in emerging markets and has held positions on various corporate and community Boards. Todd continues to pursue a lifetime passion for the outdoors and competitive sports.

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Jordan Dermer

Co-Founder and Managing Partner

416.637.9308

jordan@capitaldevelopments.com

Jordan Dermer

Co-Founder and Managing Partner

Phone:  416.637.9308

Jordan co-founded Capital Developments in 2007 and is responsible for overseeing the firm’s management including strategy, acquisitions, partnerships and development. He has accumulated over 27 years of real estate experience in North America and Europe. He was formerly the Chief Development Officer of TriGranit Development – one of the leading developers throughout Central and Eastern Europe. Jordan is currently a member of the Innovation Committee at the Peter Munk Cardiac Center, Board Member of Hold’em for Life Charity Challenge (an organization that has raised in excess of $30 million for cancer research), and a member of the Board of Governors of the Bishop Strachan School and a Co-Founder of Kids for Kids. Jordan has a love of family, and enjoys travel and fitness. Jordan has a B.A. from McGill University.

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Andrew Adams

Senior Vice-President, Finance and Investment

416.637.9309

andrew@capitaldevelopments.com

Andrew Adams

Senior Vice-President, Finance and Investment

Phone:  416.637.9309

Andrew has over 10 years of real estate experience in Canada. At Capital Developments, Andrew oversees financial operations and planning for all projects including financial modeling, investor relations and investment opportunities. Prior to joining Capital Developments, he worked as an Analyst to the CFO at DREAM while Dundee REIT became the largest office REIT in Canada. Andrew was also involved with DREAM as they completed the IPOs for Dundee International REIT, Dundee Industrial REIT and numerous acquisitions. Prior to working on the finance side of real estate, Andrew was a structural engineer.

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Mohamad Amin

Vice-President, Construction

416-665-9310

mohamad@capitaldevelopments.com

Mohamad Amin

Vice-President, Construction

Phone:  416-665-9310

Mohamad leads the construction department and oversees the overall execution and delivery of projects from conceptualization to execution. His ten years of Construction Management experience include a diverse portfolio of projects in the residential, commercial and industrial sectors. Mohamad’s most accomplished projects include Aura, Canada’s tallest condominium, 155 Redpath Condominium and a 7 acres' state of the art hybrid cannabis production facility. Prior to joining Capital Developments, Mohamad was the Director of Construction and Development at the Supreme Cannabis Company, responsible for the design, development and execution of production, processing and packaging infrastructure. Outside work, Mohamad pursues a passion for playing Water polo as well as a strong interest in the culinary arts. Mohamad has a B.Eng (Civil) from McGill University.

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Joe Bartkiw

Analyst

416.904.2144

joe@capitaldevelopments.com

Joe Bartkiw

Analyst

Phone:  416.904.2144

Joe is primarily responsible for monitoring the performance of ongoing projects, preparing materials for internal and external decision makers, as well as assisting in the underwriting process for new investments. Prior to Capital Developments, Joe held summer internships at both Revera Inc. and Graywood Developments within Corporate Development, Investments, and Development groups. Joe has an HBA from the Ivey Business School. Joe enjoys canoe tripping, playing guitar, and trying to outsmart Jeopardy! contestants.

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Dichelle Catu

Project Accountant

647.834.3508

dichelle@capitaldevelopments.com

Dichelle Catu

Project Accountant

Phone:  647.834.3508

Dichelle is an accounting professional with extensive experience in real estate development. At Capital Developments, she is responsible for managing corporate accounting and finance as well as overseeing various projects. Prior to joining Capital Developments, she worked with JD Development Group which she led the accounting team. Dichelle enjoys nature tripping, love watching basketball and taking care of her family.

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Jay Cowan

Vice-President, Western Canada Development

604.499.6438

jay@capitaldevelopments.com

Jay Cowan

Vice-President, Western Canada Development

Phone:  604.499.6438

Jay joined the firm in February of 2021, and is responsible for overseeing acquisition and development activities in western Canada. Providing the team with over 26 years of real estate experience in development and asset management across Canada, Jay has worked for the industry leading firms of Aspen Properties, Cadillac Fairview, GWL Realty Advisors and Brookfield Properties. He has a BA (double major) from the University of Guelph in Business and Economics. He is an avid skier and sports enthusiast. Jay loves the outdoor activities, spending time with his family and getting involved with the local community.

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Sarah Chu

Manager, Development

416.578.0119

Sarah@capitaldevelopments.com

Sarah Chu

Manager, Development

Phone:  416.578.0119

Sarah is responsible for the day-to-day management of many of the company’s development projects. Prior to joining Capital Developments, Sarah worked at Core Development Group as the Manager of Acquisitions, reviewing and underwriting acquisition opportunities for various development sites in the GTA. She also worked at Altus Group on the commercial research team. Sarah enjoys art and design, painting, and caring for her houseplant collection. Sarah holds a M.SC in Planning from the University of Toronto.

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Chris Dynes

Director, Development

416.631.9317

chris@capitaldevelopments.com

Chris Dynes

Director, Development

Phone:  416.631.9317

Chris manages a portfolio of development projects at Capital Developments, from feasibility and design through delivery and has over 8 years of experience working in the development industry in the GTA. Prior to joining Capital Developments in 2018, Chris was as a Development Associate and Analyst at Minto Communities where he worked on numerous high-rise and low-rise projects in the GTA and Ottawa. Chris is a member of BILD’s Young Builders’ Committee where he and other young leaders facilitate educational and networking opportunities for the next generation of leaders of the GTA home building and land development industry. Chris has a B.Comm with a major in Real Estate and Housing from the University of Guelph.

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Marc Elmer

Vice-President, Development

905.933.0598

marc@capitaldevelopments.com

Marc Elmer

Vice-President, Development

Phone:  905.933.0598

Marc oversees acquisitions, planning, development, and sales for low- and mid-rise projects. Prior to joining Capital Developments, he worked as a Vice President of Operations for Sun Communities and Equity Lifestyle Properties the 2 largest REIT’s in North America in the manufactured housing sector. Marc has also been involved with numerous acquisitions of individual properties as well as the acquisition of the Thousand Trails and Carefree Communities portfolios. Marc is also an avid cinephile and a devoted husband and father. Marc has a B.A. from the University of Western, Ontario.

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Sari Goldstein

647.351.9312

sari@capitaldevelopments.com

Sari Goldstein

Phone:  647.351.9312

Sari is a designated CPA, CA with approximately 15 years of experience in the finance and accounting industries. At Capital Developments, she is responsible for overseeing all aspects of the corporate accounting and reporting functions for Capital Developments, as well as overseeing various projects. Prior to joining Capital Developments, Sari held senior finance or accounting positions with PC Financial, Loblaw Companies Limited, George Weston Limited and KPMG. She has also sat on the board of directors and acted as the treasurer of multiple charitable organizations in Toronto. She is also a proud mother of three growing boys.

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Michael Lirio

Manager, Construction

416.832.2591

michael@capitaldevelopments.com

Michael Lirio

Manager, Construction

Phone:  416.832.2591

Michael is responsible for ensuring excellence in execution on-site during construction. Prior to joining Capital Developments, Michael was an Assistant Project Manager at CentrecCourt where he oversaw tendering and site reviews. Michael has a B.Eng (Civil) from Ryerson University and is a member of the Professional Engineers of Ontario.

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James Lynde

Vice-President, Finance and Accounting

416.520.5014

james@capitaldevelopments.com

James Lynde

Vice-President, Finance and Accounting

Phone:  416.520.5014

At Capital Developments, James oversees the corporate and property accounting of current and future projects, including reporting and cash management. In addition, James supports the financial and business strategy of the Company. Prior to joining Capital Developments, James worked at Oxford Properties in the Canadian Development team where he led the Analyst and Associate team who underwrote and reported on all Canadian development projects and investment pursuits across residential, industrial, retail, office and hotel assets at varying stages of the development process. While at Oxford, James was also an Associate of Strategy and Risk, focused on executive reporting and the company's strategy. Prior to Oxford James performed audit and consulting services for real estate clients at KPMG where he earned his CPA. James has a MBA from DeGroote School of Business and a Bachelor from Western University. James enjoys spending time outdoors, either cycling, hiking, camping or skiing with his partner and two kids.

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Sam Postelnik

Associate, Finance

416.708.3305

sam@capitaldevelopments.com

Sam Postelnik

Associate, Finance

Phone:  416.708.3305

Sam is responsible for monitoring the performance of ongoing projects, preparing materials for internal and external decision makers, as well as assisting in the underwriting process for new investments. Prior to Capital Developments, Sam work at both Starlight Investments and RioCan. Sam has an H.B.A. from Ivey Business School. Sam is an avid athlete and enjoys Tennis, Squash, and Cooking, having completed Culinary Arts I at George Brown College.

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Aun Qazilbash

Manager, Pre-Construction & Design

437.339.3280

aun@capitaldevelopments.com

Aun Qazilbash

Manager, Pre-Construction & Design

Phone:  437.339.3280

Aun is responsible for preconstruction and design management functions in the early stages of a project’s life-cycle. Prior to joining Capital Developments, Aun worked as Preconstruction Manager at the Canadian office of a global high-rise construction management firm. Aun is a family man, loves to play recreational basketball and is a UAV/drone photography enthusiast. Aun has a P. Eng designation and a B. Eng (Civil) from Carleton University.

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Brandon Shaw

Manager, Construction & Customer Service

416.636.9320

brandon@capitaldevelopments.com

Brandon Shaw

Manager, Construction & Customer Service

Phone:  416.636.9320

Brandon oversees projects that are in the post construction stages, which is pre- first occupancy to final performance audit completion. Prior to Capital Developments, Brandon worked for a developer as their Customer Care Manager for 7 years and completed many projects from pre-occupancy to final performance audit completion.

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George Shivraj

Senior Project Accountant

416.636.9342

george@capitaldevelopments.com

George Shivraj

Senior Project Accountant

Phone:  416.636.9342

George is responsible of all project accounting and finance functions including construction draws, cash calls, deposit release, HST filings and financial reporting. In the past, he has performed similar functions for Liberty Developments, Empire Communities and JD Development group. George is passionate about CD’s brand and expectations and likes to follow trends in real estate. In his spare time, he volunteers at the local community centre. George has a degree from the University of Pune.

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Giancarlo Spataro

Director, Investments

416.571.0771

giancarlo@capitaldevelopments.com

Giancarlo Spataro

Director, Investments

Phone:  416.571.0771

Giancarlo is responsible for the sourcing of development opportunities, strategic expansion of the development pipeline as well as continued cultivation of relationships within the industry. Prior to Capital Developments, Giancarlo managed Land Acquisitions for North American Development Group where he was responsible for the acquisition of mixed-use development opportunities and identifying new growth markets through out Ontario. Giancarlo enjoys travelling, cycling and spending time with his family. He is proud member of the board for Brain Cancer Canada and a 5-time participant of the Ride to Conquer Cancer. Giancarlo has a diploma in Business Management from George Brown College.

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Carlo Timpano

Senior Vice-President, Development

416.636.9381

carlo@capitaldevelopments.com

Carlo Timpano

Senior Vice-President, Development

Phone:  416.636.9381

Carlo oversees the portfolio of development projects at Capital Developments, from inception through delivery. Prior to Capital Developments, Carlo co-led high-rise office development for Oxford Properties Group where he managed a pipeline of over $5 billion and active construction of over $1 billion. Carlo has also been a management consultant for both Boston Consulting Group and Bain & Company. Carlo is an avid traveler having visited over 75 countries, an amateur astronomer, a proud father, and a horror movie enthusiast. Carlo has an MBA from Harvard Business School and a B.Comm from Queen’s School of Business.

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Kara Wilson

Executive Assistant to the Managing Partners

647.748.9313

kara@capitaldevelopments.com

Kara Wilson

Executive Assistant to the Managing Partners

Phone:  647.748.9313

Kara is responsible for office administration, client relations, and general support. Prior to joining Capital Developments, she worked 6 years with Cadillac Fairview’s Operations and Development teams. Outside the office family and friends are the priority along with a love of cooking, foreign film, sci-fi and a beginners vinyl record collection.

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David Zhou

Associate

david@capitaldevelopments.com

David Zhou

Associate

David is responsible for overseeing project reporting and development of complex proformas for assessing potential investment opportunities.

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