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Alternative Investments

TDAM Real Estate

At a glance

We believe income drives real estate returns over the long run. Therefore, we acquire and build diversified real estate portfolios designed to generate sustainable income and income growth, backed by active management and multi-dimensional risk management.

A Leading Canadian Real Estate Solution

  1. Over 30 years of Experience: We have been managing real estate since 1988, delivering strong risk-adjusted performance in real estate.

  2. Relationship-driven Investing: Historically, over 80% of our transactions have been off market. 

  3. Relationship-driven Investing:, All our investments have been sourced from bi-lateral negotiations or processes with limited competition. 

  4. Private asset class held to public asset class standards: Aligned with global best practices, the strategy also conducts independent, external appraisals on a quarterly basis.

  1. High-quality Portfolio: The strategy owns some of the most strategic real estate investments across Canada. With the first dollar invested, a client is invested in over 250 properties diversified across location, property type and risk strategy. 

  2. Active Build to Core Strategy: Our ability to not only acquire but organically build core assets through value-add and opportunity strategies is a key competitive advantage for the strategy. 

  3. Significant Multi-unit Residential Exposure: The strategy is one of the largest owners of multi-unit residential assets in Canada. This property type has exhibited the lowest volatility and correlation among the major property types. 

Philosophy and approach

  • With over 30 years of experience managing alternative investments, our competitive advantage is a firmly established Canadian and global alternative assets platform. Our philosophy is to protect, grow and build the income stream of our clients’ portfolios.

    We follow an active income and income growth approach and believe real estate can play a strong role as foundational real asset exposure for most clients. As allocations to real estate increase, global markets and sectors provide further diversification and can potentially improve risk-adjusted returns.

     

    Our investment process consists of:

  • Top-down Analysis: From a top-down perspective, diversification and disciplined debt management are key risk controls – ultimately our goal is to achieve broad diversification by location, property type and risk strategy, and through conservative debt targets so that no single asset, location or tenant can significantly shock the portfolios.

     

    Bottom-up Analysis The bottom-up analysis determines what locations, partners, tenants and buildings to consider. Portfolio construction involves quantitative research on major metro markets globally, including economic and population growth, education and income levels, new real estate supply projections, rental growth and valuations. Qualitative research is also performed and includes manager site visits, building inspections, property management and tenant interviews. The result of our quantitative and qualitative research is fed into our House View process where we provide formal ratings on our cities of focus and major property types.

  • Model: All investment decisions are placed into a proprietary portfolio modelling system to provide clarity on availability of capital and visibility to any potential compliance issues. The model allows us to dynamically focus on investment decisions that meet portfolio requirements both in the present and into the future.

    Execution: Our team has developed strong personal and professional relationships with an array of global advisory, banking, pension fund, investment fund and industry players in their previous experiences. Possessing transactional experience in North America, Europe, South America and Asia, we focus on securing a significant number of negotiated and proprietary transactions stemming from these existing relationships. Participation in competitive public auctions is only pursued if we feel the competitive and strategic makeup of our consortium ensures a high probability of success.

ESG

Environmental, Social and Governance (ESG) integration aligns with our philosophy of seeking investments in sustainable, long-term assets through a risk-managed process. We strive for a fully integrated ESG engagement process in our investment products.

Our Alternatives Team seeks to integrate best-in-class sustainability practices across all real estate, infrastructure, and mortgage investment and portfolio management processes. This includes acquisitions, developments, capital planning and ongoing operations. We believe our sustainability strategy is fully aligned with our cultural focus on risk management, disciplined processes and sustainable returns.

We adhere to the following commitments, which also apply to management partners and related external service providers:

Environmental Impact We are committed to minimizing the environmental impact of our investments by staying attentive to resource utilization and waste. Some of those efforts include reducing energy and water use, reducing greenhouse gas emissions, considering renewable energy sources, minimizing waste output, focusing on waste diversion, using sustainable materials and equipment, and pursuing third party certification standards relating to sustainable practices wherever possible.

Health and Welfare We are committed to improving the health and welfare of our tenants, residents, suppliers and the communities in which we operate. Efforts toward this end include ensuring assets meet or exceed all health and safety regulation, requiring sustainable and responsible contracting principles to be used by our management partners, and fostering community involvement.

Integrity and Accountability To encourage the continuous improvement of sustainability best practices and to support our values of integrity and accountability, we are committed to promoting sustainable practices and embedding sustainability considerations into our disciplined investment processes and policies. We will continue to measure our progress towards these commitments. Both the Real Estate and Infrastructure teams are participant members of the Global Real Estate Sustainability Benchmark (GRESB).

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