Investment Team

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Sanjil Shah

Managing Partner
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Sanjil Shah

Managing Partner

Sanjil Shah is a Trustee of the REIT and a Partner of the General Partner, as well as a Partner and Chief Financial Officer of Alignvest Management Corporation, an alternative asset management company with interests in a broad spectrum of investments, including real assets and real estate. Prior to joining Alignvest, Mr. Shah was the Chief Financial Officer and Chief Operating Officer of StorageNow, a niche real estate business that consolidated a fragmented real estate sector in Canada.

Mr. Shah oversaw the acquisition, development and operations of 11 self-storage stores in Ontario, Saskatchewan and Alberta. The portfolio was successfully built over a four-year period and sold to InStorage REIT for cash consideration of $110 million. Prior to joining StorageNow, Mr. Shah was a Senior Manager at KPMG LLP. Mr. Shah holds a Bachelor of Arts from the University of Toronto and is a Chartered Professional Accountant and Certified Professional Accountant (Illinois).

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Celia Chan

Chief Financial Officer
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Celia Chan

Chief Financial Officer

Celia Chan is the Vice President of Finance at Alignvest Management Corporation. Ms. Chan was previously the Controller since joining Alignvest in 2013. Prior to joining Alignvest, Ms. Chan was a Manager at Ernst & Young LLP, a global professional services firm, where she specialized in providing audit and advisory services to clients in the financial services industry, specifically asset management companies.

Ms. Chan is a CPA, CA and holds a Bachelor of Commerce and Finance from the University of Toronto.

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Jake Mandel

Senior Associate
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Jake Mandel

Senior Associate

Jake Mandel is a Senior Associate at Alignvest Management Corporation.

Prior to Alignvest, Jake was actively involved in underwriting and conducting due diligence for prospective transactions at Dundee Private Equity, which included the qualifying acquisition for the first listed Canadian Special Purpose Acquisition Corporation. He also spent two years overseeing Dundee Corporation’s portfolio management strategy, as well as the Purpose-Built Student Accommodation (“PBSA”) activities of Dundee Acquisition, including the due diligence of over $400 million of PBSA acquisitions in Canada.

Mr. Mandel earned an HBA from the Richard Ivey School of Business, graduating on the Dean’s Honour List and passing with Distinction.

Trustees of REIT

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Nancy Lockhart

Chair, Board of Trustees
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Nancy Lockhart

Chair, Board of Trustees

Ms. Lockhart is a director of George Weston Limited, Choice Properties REIT and Atrium Mortgage Investment Corporation. Previously, Ms. Lockhart was the Chair of Gluskin Sheff + Associates, Inc., and a director of Loblaw Companies Limited, Canada Deposit Insurance Corporation, Retirement Residence REIT and Barrick Gold Corporation. Additionally, Ms. Lockhart was formerly the Chief Administrative Officer of Frum Development Group and a Vice President of Shoppers Drug Mart Corporation. Currently, she is the Chair Emeritus of Crow’s Theatre Company and Director of The Royal Conservatory of Music, and was previously Chair of the Ontario Science Centre, President of the Canadian Club of Toronto, Chair of the Canadian Film Centre, Director of the Centre for Addiction and Mental Health Foundation and Director of The Canada Merit Scholarship Foundation. Ms. Lockhart was awarded the Order of Ontario in 2006.

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Robert Wolf

Trustee
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Robert Wolf

Trustee

Robert Wolf is a corporate director, active investor and financial management professional. Since 2008, through RTW Capital Corporation, he has been making active investments in and providing advisory services to North American businesses in a variety of sectors. Mr. Wolf is currently a trustee/director of (i) WPT Industrial REIT (TSX:WIR.UN), serving as Lead Trustee and member of the Audit Committee; (ii) Crosswinds Holdings Inc. (TSX:CWI), serving as Chair of the Audit Committee. Mr. Wolf previously was also a director of (i) InnVest REIT (TSX:INN.UN), serving as Chair of the Investment Committee and member of the Audit Committee, Nominating and Governance Committee and Capital Structure Task Force; (ii) OneREIT (TSX:ONR.UN), serving as Chair of the Investment Committee and member of the Governance and Compensation Committee; (iii) C.A. Bancorp Canadian Realty Finance Corp. (TSX:RF.A), and (iv) Monarch National Insurance Company, serving as Chair of the Audit Committee. Prior to 2008, Mr. Wolf was the Chief Financial Officer of RioCan REIT (TSX: REI.UN) from its inception in 1994. In this role, he led all efforts to successfully raise over C$3 billion of equity and debt capital. In addition to being responsible for all financial reporting and compliance functions, he also played a key role in number of significant transactions, including corporate acquisitions, joint ventures and debt restructurings. Prior to 1994, Mr. Wolf held a variety of positions in both public accounting and private/public real estate companies. He obtained his Chartered Accountancy designation in 1984 and holds a Masters of Business Administration from the Schulich School of Business at York University (1982) and a Bachelor of Commerce from McGill University (1981).

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Rajiv Silgardo

Trustee
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Rajiv Silgardo

Trustee

Rajiv Silgardo is a director of the OMERS Administration Corporation, where he serves as a member of the Board’s Investment and the Human Resources Committees. Mr. Silgardo has over 30 years’ experience in the investment industry as a senior executive in the areas of asset and wealth management. He retired in late 2019 as President and CEO of UBC Investment Management Trust, where he spearheaded the allocation and investment of the University’s Endowment and Pension portfolios across private and public asset classes. Prior to joining UBC in December 2016, Mr. Silgardo was Co-CEO of BMO Global Asset Management (“BMO GAM”), which he helped establish and grow from approximately $50 billion in assets under management in 2009 to over $300 billion by mid-2016. Earlier, Mr. Silgardo spent 14 years with Barclays Global Investors (“BGI”). Mr. Silgardo served initially as Chief Investment Officer and subsequently led the firm as President and CEO in Canada. In addition to OMERS, Mr. Silgardo serves as Chair of the Investment Advisory Committee of Greyhawk Investments. He is a past member of the Investment Committee of the Vancouver Foundation, the TSX Trading Advisory Committee and of the Board of Governors of the Bishop Strachan School in Toronto. He has also served on the Advisory Board at The Ted Rogers School of Business at Ryerson University and the Board of Directors of Canada Exchange Traded Funds Association. Mr. Silgardo received his B. Comm (Honours) and M. Com degrees from Delhi University, India, and an MBA from the University of North Carolina at Chapel Hill. He is a CFA Charterholder.

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Reza Satchu

Trustee
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Reza Satchu

Trustee

Reza Satchu is a Trustee of the REIT. Mr Satchu is a Managing Partner and co-founder of Alignvest Management

Corporation. Mr. Satchu has co-founded, built, and/or managed several operating businesses from inception including: Alignvest Management Corporation, SupplierMarket, a supply chain software company with over 125 employees and investors that included KKR & Co. L.P. executives and Sequoia Capital, which was sold to Ariba Inc. for share consideration implying an enterprise value of US$924 million; StorageNow, which became one of Canada’s largest selfstorage companies prior to being sold to InStorage REIT for cash consideration of $110 million; and KGS-Alpha Capital Markets L.P., a U.S. fixed-income broker dealer with over US$150 million of equity capital. Mr. Satchu has a bachelor’s degree in economics from McGill University and a Masters of Business Administration from Harvard University.

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Sanjil Shah

Managing Partner & Trustee
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Sanjil Shah

Managing Partner & Trustee

Sanjil Shah is a Trustee of the REIT and a Partner of the General Partner, as well as a Partner and Chief Financial

Officer of Alignvest Management Corporation, an alternative asset management company with interests in a broad

spectrum of investments, including real assets and real estate. Prior to joining Alignvest, Mr. Shah was the Chief Financial Officer and Chief Operating Officer of StorageNow, a niche real estate business that consolidated a fragmented real estate sector in Canada. Mr. Shah oversaw the acquisition, development and operations of 11 self-storage stores in Ontario, Saskatchewan and Alberta. The portfolio was successfully built over a four-year period and sold to InStorage REIT for cash consideration of $110 million. Prior to joining StorageNow, Mr. Shah was a Senior Manager at KPMG LLP. Mr. Shah holds a Bachelor of Arts from the University of Toronto and is a Chartered Professional Accountant and Certified Professional Accountant (Illinois).