Darren Latoski, the co-founder of Canada’s first trust focused exclusively on industrial real estate, passed away Sept. 9 after a battle with cancer. Described as one of the country’s most successful young entrepreneurs, colleagues praised Latoski for his expertise and energy in leading both Vancouver-based Pure Industrial Real Estate Trust and Pure Multi-Family REIT LP.
Rick Turner, the trust’s chairman said in a release: “We are deeply saddened to have to say goodbye to Darren. His talent and boundless energy helped lead the trust to its current success. He was proud of the trust’s growth, the considerable depth of management now in place at all levels, and the unblemished record of payments to security holders since its 2007 initial public offering.”
Latoski worked as co-chief executive officer of Pure Industrial Real Estate Trust and was co-founder and executive chair of the Pure Multi-Family REIT LP.
As of June 2013, Pure Industrial Real Estate Trust consisted of 161 properties with gross leasable space of over 12.7 million sq. ft.
Latoski graduated with a Masters in Business Administration from Simon Fraser University. Over the past 20 years, he was involved in the acquisition and development of over $800 million Cdn in Canadian real estate and over $350 million in U.S. real estate.
As co-founder and president of Sunstone Realty Advisors, Latoski helped that company since 2002 identify, acquire, manage and divest approximately $1.2 billion in income producing real estate in Canada and the U.S. That included over $200 million in U.S. multi-family real estate properties acquired since 2008.
Latoski garnered several awards and recognition during his career. In 2007, Business in Vancouver named him to their annual Forty Under 40 List. And in 2011, he was nominated for Ernst & Young’s Entrepreneur of the Year Award.
Business in Vancouver also cited Pure Industrial Real Estate Trust in their annual list of B.C.’s fastest growing companies in 2011, and again in their “fastest 100, top 10” list in 2012.
The publication cited the company’s five-year growth at 2,062 per cent and said, “The company’s strategy is to balance the maintenance of the properties it owns with accretive acquisitions carefully chosen based on quantifiable upside potential.”
Previously, Latoski worked as vice-president of Macluan Capital Corporation, a Vancouver-based private equity firm.