Working Capital The Real Estate Podcast
Building a Real Estate Legacy, with Allied REIT’s Michael Emory | EP43
Apr 19, 2022
In This Episode
Michael Emory is a graduate of Queen’s University (BA, Hons., 1977) and the Faculty of Law, University of Toronto (JD, 1982). Prior to entering the real estate business in 1988, Michael was a partner with the law firm of Aird & Berlis, specializing in corporate and real estate finance.
Michael is the founder, a Trustee and the President & CEO of Allied, a leading owner, manager and developer of (i) distinctive urban workspace in Canada’s major cities and (ii) network-dense urban data centres in Toronto that form Canada’s hub for global connectivity. Allied’s business is providing knowledge-based organizations with distinctive urban environments for creativity and connectivity.
Allied went public in February of 2003 with assets of $120 million, a market capitalization of $62 million and a local urban-office portfolio of 820,000 square feet. Allied now has assets of $9 billion, a market capitalization of $5 billion and a national urban-office platform of 14 million square feet.
Michael is also a Director of Equitable Group Inc. and Equitable Bank.
In this episode, we talked about:
- How Michael transitioned from law to real estate
- Living through the real estate collapse in the 90s
- How Michael approached his first capital raise
- The recovery of office space after the COVID-19 pandemic.
- What was difficult about Allied’s IPO.
- The importance of Environmental, Social and Governance (ESG)