Forager invests in, develops, and operates well-located industrial and commercial assets with discipline and repeatable execution.
Forager is a highly specialized private equity real estate developer, investor, operator, and manager of industrial and commercial assets in Canada and the United States
Well-located sites in land constrained markets.
High-quality, zoned infill development land.
Experience and expertise from start to finish.
High-growth markets with barriers to new supply.
Mismanaged assets at below replacement cost.
Repositioning via in-house operational execution
Exits
as of 2026
WAVG IRR
of projects to be exited; net of performance fees
Gross Project Value
based on realized and underwritten gross exit value of all Forager projects since inception
Square Feet
developed/acquired since inception
Forager takes a hands-on, opportunistic approach to industrial and commercial real estate, combining proactive management with flexible, partner-first strategies to preserve capital and unlock value through disciplined execution.
Value-add investment and ground-up development opportunities
In-house investment, development, and asset management
Prudent decision making driven by a ‘partner-first’ mentality
Freedom to implement a range of bespoke, high-value business plans
The Bonita Foundry is a 174,000-square-foot Class A flex campus in Bonita Springs, Florida, combining shallow-bay industrial and retail space for lease with luxury recreational storage condominiums for sale. Located on 660 feet of frontage along Old U.S. 41, the project serves critically undersupplied, high-demand market segments. Unanimously approved for zoning in Q4 2025, The Bonita Foundry is positioned to capitalize on strong demographics, limited land supply, and continued growth across Southwest Florida.
Southwell Place was acquired in Q2 2020 through an off-market transaction at a compelling basis, where Forager identified an underutilized industrial site in a land-constrained submarket lacking office-condo supply. The project was repositioned into a 29-unit Class A flex commercial-industrial condominium. All units were successfully sold, ultimately achieving pricing approximately 1.2× above the underwritten exit value. Southwell Place marked Forager’s first strata-condo exit and validated our differentiated investment thesis and execution-driven approach.
Forager acquired a 6.5-acre industrial site in high-demand northeast Toronto, secured all approvals, and developed a 145,000 square foot, class ‘A’, multi-occupant urban warehousing and logistics facility. Designed for a diverse array of industrial users, each unit features dedicated semi-trailer and drive-in loading. The project was built to Toronto Green Standards.
Our team brings deep experience across private equity, brokerage, development, and commercial property operations, allowing us to lead projects with clarity, discipline, and hands-on execution.
Conor brings over 17 years of experience on the principal side of commercial real estate, having worked alongside leading developers, asset managers, and private equity investors. He has held senior roles in the origination, underwriting, and asset management of several billion dollars of real property across core, value-add, and development strategies, spanning all major asset classes. His experience is complemented by deep relationships across debt and equity capital markets and the brokerage community. Conor holds a Bachelor’s degree from McGill University.
Ian is responsible for the origination and financial underwriting of investment opportunities, corporate operations, portfolio management, and capital raising. Prior to joining Forager, he held positions at global asset managers and pension funds, specializing in the investment, development, and asset management of real estate and infrastructure across all asset classes. Ian earned a dual undergraduate degree from Western University in London, Ontario, completing an Honours Business Administration (HBA) at the Ivey Business School and an Honours Specialization in Urban Development.
Canada
52 Scarsdale Road
Suite 200, Southwell Place
Toronto, Ontario M3B 2R7
United States
4850 Tamiami Trail N
Suite 301
Naples, Florida 34103
